OnPoint Community Credit Union is running a fairly new TV commercial. Tracey runs buy her dream house everyday. One morning she runs by and there is a for sale sign in the yard. Tracy is a smart cookie. She doesn’t call the listing agent from the sign and gush about her dream house. She knows dual agency is evil. Instead she calls her OnPoint mortgage broker to get the ball rolling. We can’t tell if she has been pre-approved or if she is just starting out. It doesn’t matter in this scenario because Jack already has an accepted offer and tomorrow she’s going to be crushed when she runs by the ‘sale pending’ stickers on the sign.
Meet Jack. Tracy has never met Jack. Jack rolled into work yesterday at about 10 AM, just a couple hours after Tracy’s 8 AM morning run. When Tracey ran by it was just another house on the street. It wasn’t for sale. At 9 AM the sign post was delivered and the listing agent was entering the listing into RMLS. Jack was diligently working (actually he was checking FaceBook) when a new email popped up with the subject line: “Property Previews for Jack.” The new listing alert shows a picture of his dream home. He drives by every morning on the way to work and there was no sign when he went in this morning. His HomeFinder Pro has been set up for that specific house and he also receive a Property Investment Profile and a Market Tracker for the neighborhood. Jack does a little happy dance and calls us. He’s already been pre-approved for a mortgage, including a credit check and verification of income. He’s ready to go.
We met at the property at noon and walk through. It is everything and more and is well priced according to the comparable properties in our comparable properties report. Jack goes back to work and we go write the offer up. Using DocuSign, Jack digitally signs the paperwork and gets back to us by 2 PM. The listing agent uses DocuSign too. The paperwork zips around the Internet and is signed by the husband who is in New York at his new job and the wife who is still at home packing up and eager for their new life on the east coast. It’s now 4 PM and Jack has an accepted offer. There’s still 18 hours until Tracy heads out for her run tomorrow and first sees the sign in front of her dream home. Tracy hates Jack and has never met him.
This is fiction but it could happen.