Margaret Rome's Blog

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Not The Time For Bluffing

 Poker Hand

 

Being a good poker player requires bluffing.

Bluff defined:

False threat or claim intended to deter or deceive someone. 

 

This is not a recommended tactic in Real Estate.

 And it’s never a good time to bluff during negotiations.

 

Recently, it happened with a buyers agent who was under contract.  This is a deal killer was stated a couple of times. There were many requests and stalls and 'my buyer is thinking about it' and requests for extensions. And then a signed release which she planned to take back right away.

 

This was after the seller took care of all the minor requests.

 A few hours later, the agent emailed asking for another minor thing, thinking the seller would want to continue since we were a couple of weeks from the closing date.

Wrong!

The seller signed the release and accepted a backup offer.

 

 

Not now, not ever is it a good time to bluff!

 

Margaret Rome

 

 

 

 

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Broker-Owner HomeRome Realty 

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Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

 

 

Comments

Hello Margaret - a good strategy in one situation is definitely not transferable to all scenarios.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 1 year ago

Michael Jacobs Great comment!

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 year ago

Innteresting scenario....and not one we could see here.

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) about 1 year ago

I've always said, Margaret, that pesky Karma will come bite you in the you know what if you don't behave with integrity.... be it in life, in general, or in real estate negotiations. Served that buyer right!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Realty) about 1 year ago

This reminds me of a recent story from an agent that had multiple offers with two being cash. They accepted one of the cash offers and within 2 weeks had sent an addendum to move to a loan. Hmmm. I consider this a sort of bluff. Now we have to put verbiage into the counters to minimize this potential action. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Realty) about 1 year ago

Using deadlines as a way to squeeze a seller is wrong.  A good agent would have never allowed the buyers to play those kinds of games.... or perhaps it was the agent playing the games. Game over!

Posted by Carol Williams, Retired Agent / Broker / Property Manager (Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.) about 1 year ago

Sally K. & David L. Hanson We all have interesting scenarios to share.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 year ago

Nina Hollander Hope the agent was really conveying the buyer's position and their own.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 year ago

Sheri Sperry - MCNE® There is an Alternate Financing clause in our contract that allows the buyer to go with different financing as long as it does not affect the seller. 

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 year ago

Carol Williams Game over, was my original title.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 year ago

Huffing, puffing, and bluffing are not very effective tools in any situation, but especially in negotiation mode. Well okay, maybe in poker. Hope the buyer, and the agent?, learned a valuable lesson. 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) about 1 year ago

Debb Janes EcoBroker and Bernie Stea JD 

Not sure if they learned but this was also a case of analysis paralysis.  Maybe in a really slow buyer's market, it may have worked. 

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 year ago

Ah yes, "bluffing."  It can be a risky maneuver, especially in a strong seller market, where there are multiple buyers, and the sellers can easily sort through more serious offers.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) about 1 year ago

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) about 1 year ago

Myrl Jeffcoat The backup buyer and her agent are so unbelievably happy and excited.

Thanks for the feature!

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 year ago

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