'We bid $45k over asking... [but] personal connections mattered more': Influential realtor closes the deal for a first time home buyer, even though they weren't the highest bidder

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Jesse Kessenheimer • Writer and Editor
Apr 28, 2024 9:00 AM EDT

When you're not born into wealth, it's easy to be skeptical of the whole 'it's who you know, not what you know' philosophy in the working world. Although we've all seen nepo-babies rise to the top with nothing but a silver spoon and a pair of coattails to ride, most working folks don't fully realize the power of connections until we witness it in action. 

The first-time home buyers in our next story got to experience a glimmer into the world of the 1% when they picked a realtor who had a foot in the door of the ivory tower. Although they bid $45k over asking on a bidding war for a house, it was the social connections their realtor was cultivating that pushed through the sale. Scroll for the full story of how one couple scored their dream house because they picked the right guy to back them up, demonstrating how in an unfair world, it feels good to have the scales occasionally tip in your favor.

A little nepotism goes a long way…

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  • 01
    Money isn't everything.
    via canva
  • 02
    r/FirstTimeHomeBuyer Posted by u/bad-fengshui 1 day ago At closing the seller and seller agent mentioned we weren't the highest offer.... When I first picked our realtor, she gave me a spiel about how reputation is everything in real estate and how important your lender and realtor are in getting deals done.
    via bad-fengshui
  • 03
    I brushed it off as fluff, because I'm sure every realtor says they are the best and well loved by their peers. Fast forward to closing, the seller let it slip that there were multiple similar offers to ours, in the idle chatter the sellers agent was like: "... But I knew both you [the realtor] and [the lender] would get the deal done, and [lender] was really good about keeping us informed on the process."
    via bad-fengshui
  • 04
    Turns out my realtor and lender both knew the seller's realtor really well, and both my realtor and lender personally talked with her after we submitted our offer to make it sound like we were the best/safest offer. I'm so thankful for finding this realtor, but I'm also horrified to see how close all of our offers were and personal connections mattered.
    via bad-fengshui
  • 05
    Pizzahunter2000 1 day ago when i brought my house i also wasnt the highest offer. someone offered 40k above my offer. they gave it to me cause i said they did a wonderful job with the garden and the other buyers talked about terrible job on house upkeep; i thought it was fine.
    via Pizzahunter2000
  • 06
    SomeLadySomewherElse 1 day ago Another thing our realtor talked to us about was not giving a opinion on the house either inside or outside of the property. Everybody has cameras these days and people have lost homes because of the things they've said while touring them.
    via SomeLadySomewherElse
  • 07
    dustyoldbones 1 day ago Our realtor gave us the same advice. In the ones we liked we didn't say anything. However In the terrible houses my smart loudly exclaimed my distaste
    via dustyoldbones
  • 08
    np1050 23 hr. ago That seems very petty of the sellers. But I guess in this market they hold all the cards, so more power to them.
    via np1050
  • 09
    Luvcraft0606 1 day ago Yep. Sold my home to the 3rd highest bid. Wasn't a huge difference but my realtor that I'd worked with on 3 other homes knew the lender and buyers realtor. They also were the only people that wrote a letter, and talked about being 1st time buyers. What really swung the decision was that they talked about their cats and how happy they will be with the home. Took me all of 30 seconds to select after that lol.
    via Luvcraft0606
  • 10
    pancakemeow. 21 hr. ago Just got our offer accepted today and was told we were not the highest but the seller loved our love letter! The seller actually went into labor yesterday when we submitted our offer. There were 3 other offers but our letter talking about how we could envision our baby growing up in their home won them over. I think the wife gave birth either yesterday or today!
    via pancakemeow
  • 11
    elegant_road551 - 1 day ago Every single home we've put an offer on has specifically listed "no letters." I wish I could, I think it would really help our chances.
    via elegant_road551
  • 12
    Morial 1 day ago Money isn't everything. Ability to close is important too. I had a similar situation. I was the second highest offer on my property, but the seller went with my offer because they were concerned about appraisal gap, and I had the fund available to cover it. Fortunately there was not a gap.
    via Morial
  • 13
    krackerjack7 1 day ago We got our house $150,000 over asking (we bought at peak but were desperate to escape our situation at the time, plus we really liked the house), and we STILL weren't the highest. But, the other offers were cash from flippers who were going to paint everything white and slap some veneer on the cabinets. The owner thought we would do a better job in loving the house and treating it properly. Sometimes money isn't everything.
    via krackerjack7
  • 14
    Remote_Pineapple_919 23 hr. ago Do not forget, cash buyers or flippers always double dip with contingency, threat to walk away if seller does not lower the price. It became a common practice. We put a decent offer on a house with multiple others, they picked a cash one. House was closed under asking with 3 month in process. Buyers just ripped off seller.
    via Remote_Pineapple_919
  • 15
    wildcat12321 1 day ago This is likely to be attacked from every side. But I agree with you. Good agents have a value that isn't always quantifiable. And whether that should be the case or not, it is true. No one thing closes any deal, but the right offer, with the right terms, with the right support all come together.
    via wildcat12321
  • 16
    youarelookingatthis 1 day ago Showmanship is a characteristic that often goes unappreciated (in many jobs) until you see a distinct lack of it. Sounds like OP's realtor did a great job selling them to the buyer.
    via youarelookingatthis
  • 17
    wildcat12321 1 day ago and just smart negotiating. How many realtors don't encourage their clients to have 48 hour limits on offers or do other things. We can all joke about the "Ari Gold" from Entourage or some of the folks from Million dollar listing who might seem pushy or whatever, but proactivity and drive often does matter.
    via wildcat12321
  • 18
    beermanclay 17 hr. ago A great combo of a realtor and lender who know what they are doing is deadly. Knowing the lender will actually close makes a very big deal as well. I want them to know my client is well qualified, we'll close quick, and I'll give them a call every week throughout the process. I call the listing agent when my client puts in an offer. I've had multiple agents say they accepted my clients offer for this reason.
    via beermanclay
  • 19
    Ok-Sun8763 13 hr. ago Thank you! We walked away from one lender because their slowness to communicate and provide updated letters cost us multiple offers in a fast market. We switched during the process and our new lender is who ultimately saved us and secured the deal as well.
    via Ok-Sun8763
  • 20
    velvetandstone2 1 day ago More people should realize this. I've been on both sides of transactions and have gotten offers from agents who have reputations of being adversarial throughout the transaction process. I've had to disclose that fact to my clients and let them decide if it's worth accepting that buyers offer. Who wants to deal with someone knowing every small detail will involve a fight.
    via velvetandstone2

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