Ken's Naperville Real Estate Blog : CATHOLIC GUILT

CATHOLIC GUILT

Despite a fair amount of Irish blood pumping through my veins, I wasn't raised as a Catholic.

Do I have to be Catholic to suffer from Catholic Guilt?

I have always felt "bad" for things, even when I haven't done anything wrong.  I sometimes feel guilty when I am just doing my job. 

I feel that way today.

I wrote up an offer for a home in Naperville this morning.  The listing agent had told me the sellers were "extremely motivated" before I had even showed the home to the buyers.  The home was vacant.  Nice, but vacant.

The sellers were already offering a nice payout for me, and they added a $2000 bonus at closing.

It dripped of desperation...

My buyers liked the home.  Why wouldn't they?  Great yard.  Four bedrooms.  Hardwood floors.  Great neighborhood.

But only for the right price...

So we made an offer.  It was pretty low, about 15% below the asking price.

I figured, "Why not?  The home is vacant.  And the sellers are very motivated."

So when I received a call from the listing agent this afternoon, I was almost expecting a flat rejection.  The listing agent spent a few minutes telling me how low the offer was...

The sellers made plenty of improvements, she said.  District 203 schools, too.  Blah, blah, blah.

So when she countered $20,000 below the asking price, I found myself feeling sorry for the sellers.

They are probably nice people.  They are losing money on this home.  Such is today's real estate market.

But I have a job to do.  I am not representing the sellers.

My clients are the buyers. 

And today, it's the buyers that hold the cards.

Ken

To find your next home, go to my Naperville real estate website anytime.

 

Comment balloon 23 commentsKen Tracy • November 16 2008 02:20PM

Comments

Ken, confession is good for the soul.  And you don't have to be Catholic.

Posted by Kenneth Cole, NYS Licensed Real Estate Salesperson (Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com -) almost 9 years ago

Catholics do not hold a monopoly on guilt.  Does it help to remember that your buyers are helping the sellers out of their desperate situation and once the home sells, even for a low price, they will be able to move on?

Posted by Dianne Deming (RE/MAX Realty Group) almost 9 years ago

Imagine the same home's value declines  another 20% by 2011...

The original seller feels fortunate for having gotten out early.  Sudedenly your buyer is hurting for not waiting.  Should you  feel guilty then?   It is a market. Guilt should be felt after lying, cheating,  and such...you did nothing of the sort.

 

I love you for having a conscience, though.

 

Posted by Anonymous almost 9 years ago

Only 15% below asking price for an opening offer?  10% is fluff anyway.  Not much room to negotiate.  

Confession may be good for the soul, but guilt is no way to represent either party in the transaction.  We all have hearts, but we also have clients.

Quite a dilemma for anyone to be caugth up in.

 

Posted by Mick Michaud, Your Texas Lifestyle is Here! (Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107) almost 9 years ago

Hi Mike, _, Dianne, and Ken.  Thanks for reading.

I will get over the guilt.  I do need a closing.

And I will represent my clients to the best of my ability.

But I do feel "bad" too often.

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

Ken,

 

I had just made a humorous post on religious and philosophical reasons why stuff happens and why we feel the way we do.  Called Stuff Happens.  May your stuff never get over your ankles.

:-)

Posted by Mick Michaud, Your Texas Lifestyle is Here! (Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107) almost 9 years ago

Ken,

    LOL, I went to Catholic school. The nuns back then were masters of guilt. Be that as it may, we still represent our clients. Good job serving yours.

Posted by Larry Riggs, GRI, SRS Your Frederick County Specialist (Re/Max Plus) almost 9 years ago

Think of it this way.  How do we know these homes won't keep dropping in value further?

Posted by John Walters, Licensed in Louisiana (Frank Rubi Real Estate) almost 9 years ago

Ken,

Today, 'the buyers hold the cards'. The seller of the house is one of them, since they probably need to buy a house too.

keep working for you client and get the best price as possible.

And if you feel tooo guilty, give up the payout (lol and good luck in you business)

 

Posted by Jane almost 9 years ago

Poor Ken- The sellers should be happy that they had an offer. Something to work with is better than NADA. Motivated means motivated right?

Posted by Ellie McIntire, Luxury service in Howard County & Catonsville (Ellicott City Clarksville Howard County Maryland Real Estate) almost 9 years ago

Guilt Smilt! Youre not even Catholic! 15% is a good starting offer in today's market Ken. So Ken did you get the house for your buyers? Did they have to up their offer?

Posted by Stephen D White, E-Pro, ABR Cape Cod Real Estate (SDW Realty of Cape Cod) almost 9 years ago

Wow...stunning way that things transpired.  I think that good humans just feel guilty when one person is getting the better of another and we're witnessing it.  It's all disclosed, but still, to watch and even participate in it, even thought it's legal and you're actually doing your duty for your client, is hard to get through some times.

Posted by Larry Bettag, Regional Vice-President (Larry Bettag - Cherry Creek Mortgage) almost 9 years ago

Yeah, but it was the sellers who were in the best position a few years ago.  The tides have turned, let the buyers have a chance now, they deserve it.  You did good.  I feel for you man.

Posted by Daniel Button almost 9 years ago

Ken...

The seller has options, and it's up to them to determine what they will accept for their property. If I were to get an offer 15% below list on one of my listings, I would jump for joy!

You stick to you guns, and fight for your client! No guilt in that!

Posted by Richard Weisser, Richard Weisser Retired Real Estate Professional (Richard Weisser Realty) almost 9 years ago

Hi Richard, Daniel, Larry, Stephen, Ellie, Jane, John, Larry, and Mike.

Thanks all for reading.

We have yet to counter their counter.  We are adding to their misery.:)

I am feeling better today.  Lot's of vacant homes.  They need an offer.

Perhaps I am the good guy.

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

Ken,

*whispering*...I know exactly how you feel!

Keep up the good work though!

Posted by Cherimie Crane (Cherimie Crane & Associates) almost 9 years ago

Hi Ken,

Obviously you know first hand, you don't have to be Catholic to feel guilt. However I see no reason for you to be feeling that way today. You are doing the job that your profession calls for. Representing the seller. Offer, counter offer, counter offer is the name of the game. I hope all parties make this one fly. Good luck. Let us know the outcome.

Posted by Harold "Hal" Place (A1 Connection Realty, Inc.) almost 9 years ago

So when she countered $20,000 below the asking price, I found myself feeling sorry for the sellers.

Hey Ken,

Never apologize for being kind-hearted.  You're a good agent and a caring person.  

You're only responsible for taking good care of your clients.  This market correction is beyond your control.

Sincerely,

Bruce

Posted by Not Yet Licensed almost 9 years ago

Guilt is guilt no matter the religion, but you have nothing to be guilty about.  You were doing your job.  Maybe compassion or empathy, but guilt no. Consider the fact that the Seller even though they did not get what they hoped for that maybe they are happy to move on and be releived of the debt.

Deb

Posted by Debbie Hutchins almost 9 years ago

So how have you been fighting for your buyer today?

Posted by Jane almost 9 years ago

Hi Jane, Debbie, Bruce, Hal, and Cherimie.

Thanks for reading.

My buyers are doing fine.  The listing agent called and told me about the comps.

Once again, blah blah.  The more she talks, the more I know they are coming down more in price.

I just listen, let them say what they have to say, and relay the info to my buyers.

Seems like it works.

Thanks everyone again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

I hope the seller's agent is not reading your blog...

Can you imagine if she does ? She knows exactly what's in your mind. Worse thing for negociation.

Get the house for your buyer, it's your job. 15% off is nothing in today's market.

Guilty? this is how realtors who sold houses a few years ago should feel. Now their buyers cannot pay!

Posted by Jane almost 9 years ago

Hi Jane.  Thanks again for reading. 

What is in my mind is not important. 

My buyers position is what does matter.  We have yet to move. 

The seller is nervous.

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

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