After 8 months of looking high and low (in price and geography), LadyThinker and I found a place we loved—a little small, but a great location with room to grow as we grow. It was pretty damn close to being perfect, though it had a couple minor issues. As quirky SF real estate goes, however, it was more than good enough.
So we put our heads together, I created my customary anally-retentive spreadsheets (which LadyThinker believes to be silly) and she became emotionally attached (also customary). We knew this was the one, and we set out to win it.
And win it we did—in every sense except actually winning. You see, we were the most qualified (verified by the mortgage broker handling arrangements) and submitted the highest bid. In most circles, that’s enough. But not the world’s last remaining legal cartel.
No—in the world of real estate, the sellers agent (important distinction—not the SELLER, but the SELLER’s AGENT) evidently needs to like and be comfortable with your agent in order to get the house. And since our agent isn’t a typical agent—it’s a broker that refunds part of the purchase to you—we were screwed. And the agent screwed his fiduciary oath to the seller.
Of course, I’m pissed as can be, but there’s nothing I can do about it. Another reason why the real estate marketplace must change. For anyone with some angel capital to spare, I’ve got the motivation to turn this industry upside down…and do the economy a favor by minimizing the friction that inhibits the housing market in the first place. I’ll spare you the rest of my rant, dear reader…
1 comment:
Well, I'll be a Mother......
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