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Do not call listing agent. Fax offer to XXX-XXX-XXXX. Earnest money to be held by listing broker.
This is the essence of so many Agent Remarks that are one of the causes of Short Sales sitting and sitting and sitting.
WHO IS THE CLIENT OF THE LISTING BROKER? The client is NOT the owner's mortgage company. The client of the listing broker is the owner of the property listed for sale. When interviewing for the listing agreement, did the agent advise the owner/seller that they would not SPEAK OR OTHERWISE COMMUNICATE WITH BUYERS' AGENTS who needed help sending an offer???
From personal experience, when the instructions to making an offer are limited to "FAX OFFERS TO:", I know that it sometimes just does not work as intended.
THE FAX WON'T GO THROUGH. The fax is interrupted after a mere 21 of 27 pages. What do you do. If you can't call the listing agent, whom do you call?
WHAT EVER HAPPENED TO PRESENTING OFFERS IN PERSON. Perhaps I'm old fashioned but I still prefer to present an offer to buy real property often for $Hundreds of Thousands of Dollars in person. Yet, with instructions limited to "Fax offers to. . . . . . " there's no opportunity for information that may not be included in the limited instructions in the MLS listing report.
DO NOT CALL LISTING AGENT. WHAT???? I have found over the years that agent instructions vis-a-vis submitting offers by electronic means, while easy for the listing agent to understand when they include these limited instructions in the Agent Remarks, may not be so easy for the buyer's agent to understand. In fact, some listings are so incomplete, i.e., liens on the property for sale, other offers in hand, type of buyer financing, etc., all legitimate questions, yet rarely included in the listing instructions.
THE BEST OFFER FOR THE SELLERmay be thwarted by limited access or no access to the agent for the seller.
WHAT IS THE GOAL???
Is it to limit communication?Communication is the essence of negotiation of price, terms and condition of properties for sale. Without communication, errors are made, confusion is rampant, frustration is promised, questions are not answered and the SELLER may be deprived of the best offer.
Is it to limit offers? If that's the goal, it is a monumental success, but does it produce the best result?
Is it to show superior technical ability? By limiting representation of a seller to "FAX OFFERS TO:", the seller may be deprived of the best offer/contract/sale.
Is refusing to communicate with buyers' agents a power play?? Well of course. O.K. So listing agents have the power, but are they doing the best job for the seller whom they represent???
Conspicuiously absent in this post is any reference to the Code of Ethics. I cannot believe that any listing agent has not read and does not understand Standard of Practice 1-15, Standard of Practice 3-6, Standard of Practice 3-8.
Is it to save the listing agent time? I submit that by answering questions in the beginning, serious misunderstandings can be avoided later. Buying a short sale is by it's nature, buying a resale property. Agent to agent communication is often the best way to achieve the goal to get the property sold . . . . .
IN THE SHORTEST AMOUNT OF TIME FOR THE BEST PRICE, TERMS AND CONDITIONS FOR THE SELLER.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.