This is for the Realtors out there. What is the best way to verify if my offer has actually been offered to a seller?
I made a low offer on a listing on the MLS, but don’t have a good feeling as to if the realtor really submitted it.
Any advice?
Thanks,
Joe
While I can’t answer your question I can say that I’d get a new realtor if you can’t trust yours to do simple things like submit offers. I guess he doesn’t realize that offer = sale = commission.
Joe’s offer may have gone from Joe’s Realtor to the listing agent to the seller…it may not be Joe’s agent’s fault…
The best way is to put a clause in the contract that says, “Buyer reserves the right to accompany the selling agent at the presentation of this offer to the seller”…make the listing agent tell you when they will present the offer and then go with them.
Keith
The REALTOR is required by law to present all offers. If he is smart he will be asking the seller to at least write “Rejected” on the offer and have the seller date it.
At very least he should put a copy in his files with his own notes stating “Seller rejected by phone conversation” and then signed and dated by the agent. I don’t prefer the second option but we can’t force someone to sign anything.
Ask for a written response to your written offer.
I am a Realtor and I have dealt with realtors who have actually not presented offers.
If something just doesn’t feel right after I get my rejection call from the listing agent, I say thanks, hang up and call them right back.
I say “By the way, Did you actually present the offer to the seller or was it rejected because the seller has already rejected a higher offer?”
If they didn’t present the offer, this is when the stuttering starts. It’s truly amazing. When people are pressed and they have lied, it usually becomes apparent.
I press on. “What was it about the offer they didn’t like, the terms?? the price??” If I up the price do you think the terms would still be acceptable?"
Then I give him an out. I say “Please, re-present the offer and get back to me with specifics as to why it was rejected.”
Some sellers will tell an agent not to bother them with offers under a certain amount. I ask the agent to please present the offer anyway as he is legally and ethically obligated to do so.
To be honest, I have only ended up with one property in the 3 or so times this has happened to me and I had to raise my price.
Some people just don’t respond well to lowball offers. Don’t stop trying, though.
JeffInCT
Thanks everyone. Yes, it’s not my agent. It is the listing agent that I am concerned with. I will follow up with the listing agent.
Again thanks,
Joe.
I don’t think listing agent has to present the offer if they have (hopefully written) permission from the seller to not bring any offer below a certain net. Their legal and ethical obligations are to their client, the seller, not to another agent or their buyer.
Yes, we have to present all offers and ethically represent our seller’s interests. It’s unethical and illegal for agents reject offers for their clients without their clients permission or knowledge, BUT…if the seller specifically asks that you not to waste their time with offers below a certain net, you need to follow those instructions.
I’d still let the buyer know their offer was rejected. It’s just professional courtesy.
I am all for honoring my clients instructions but I would strongly advise MY client to receive all presented offers… unless he was like Donald Trump or something.
Unfortunately, many realtors don’t understand anything other than the standard 80-20 offer. Submit a creative offer and many won’t know how to present it. If the property you are making an offer on is local, insist that you be there with the agent to present the offer. If not, and you don’t think your agent is capable of presenting it intelligently, include a cover letter with a detailed explanation of the benefits of your offer. Put a signature line on the letter and require that the realtor return it to you signed.
You can “strongly advise” them all you want, but your duty is to the seller and you don’t have to present some lowball offer just because the other person wants you to. I’ve had properties valued around 150k and someone tried to present a 50% offer. Of course, I presented it, but it’s a waste of time to even waste paper with it. If my seller had instructed me to not accept offers below 100k, I’d have tossed that one in a heartbeat.
I would have still let him know his offer was rejected.
As a Realtor, I always call the other agent before making an offer to get a sense of how motivated the seller actually is without asking direct questions. We DO know (I do anyway) how to present a creative contract. It’s not always a good idea to be present when the contract is presented. You can however, have your agent request a response (in writing on the contract) within whatever time you choose.
Carolann