Special offer

Can you tell me what the other buyer's offer is ... Please!

By
Real Estate Agent with Allison James Estates & Homes, Sarasota 941-957-3737

Being in the REO Business, we are negotiating offers almost every day and are often in receipt of multiple offers on the same property.  In fact, we have had several listings receive over 10 offers on the same property in the same day.

In this process of handling negotiations, we are constantly asked in various ways from other Sales Associates; "Can you tell me where my Buyer's offer is positioned with the other offers you received and what is it going to take to make my buyer's offer prevail, so they get this property?"

This has become such a Standard question to us, that we have come up with a Standard (company policy) answer, which is as follows:

"Being a professional, I am sure you can appreciate that I will never share the confidentiality of your buyer's offer with anyone other then the Seller and would Never provide details of your buyer's offer with another Sales Associate or anyone else for that matter, without your permission.  Therefore I hope you can appreciate why I can not answer your question". 

Yes, I don't always make friends in my business with this answer, however our boundaries are very clear!

To your success,

Troy Funk, Keller Williams Realty on the Water - Troy Funk Team

www.SarasotaRealEstateGallery.com

 

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For more information on Short Sales in Sarasota and Foreclosures in Sarasota, please CONTACT USWe have over 25 years experience in real estate, and have been highly successful in negotiating short sales in Sarasota County & Manatee County, Florida.

Troy Funk, CDPE, SFR
Sarasota Certified Distressed Property Expert
Sarasota Short Sales & Foreclosures Resource
Florida Licensed Real Estate Agent

Allison James Estates & Homes
665 S. Orange Ave. #2
Sarasota, FL 34236
(941) 365-8769
Troy@FunkFL.com

SarasotaShortSaleNEWS.com

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Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Who cares?  If they don't like the response, then let them go pound sand.  You need to do the right thing always.  Great response

May 25, 2010 04:38 PM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Sounds to me like a good answer, and one I should save in my own collection of standards scripts.

May 25, 2010 04:39 PM
Lorraine Sayer
Monument, Black Forest, Falcon, Fountain homes - Colorado Springs, CO
Realtor ABR,CDPE,GRI - Colorado Springs,CO RE/MAX

Good post and good for you.  You would be amazed however, at how much info I get just by asking open ended questions and then keeping quiet while the other agent blabbers on and on and on!! 

May 25, 2010 04:40 PM
Kymberly Caldwell-Muniz
(909) 973-0410 - Fontana, CA
TCR Group Keller Williams Realty Rancho Cucamonga

I have my own verbiage but I do like how your script sounds. The silent after asking the question always helps because they will tell a lot of pertinent information.

May 25, 2010 04:59 PM
Sonja Patterson
Keller Williams - BV - College Station, TX
Texas Monthly 5-Star Realtor Recipient for the Hou

I see your point, Troy. Confidentiality is key.

In some cases it is good to ask, however.

I have saved a few trees by saying, "My investor's highest and best offer is $X.  Are there already higher offers?"  If there are multiple offers already several thousand over what my client is willing to pay...then why waste the other agents' time, my client's time, and my time drawing up an offer that will end up in the circular file?

May 25, 2010 05:07 PM
John Pusa
Glendale, CA

Troy, thnaks for sharing a very good blog.

May 25, 2010 05:25 PM
J. Philip Faranda
Howard Hanna Rand Realty - Yorktown Heights, NY
Associate Broker / Office Manager

It always makes me smile when an agent asks me to tell them what competing offers are. A truly professional agent knows better than to go there. 

May 26, 2010 12:47 AM
Kathy Clulow
Uxbridge, ON
Trusted For Experience - Respected For Results

Troy - an appropriate answer for an inappropriate question ..... but as Lorraine in comment #3 said you would be amazed at what you can learn by asking it.

May 26, 2010 02:25 AM
Cristian Tramontozzi
Keller Williams Realty, CDPE SFR - Sarasota, FL
Real Time Realty Group

Thanks Troy for sharing a great script!

May 26, 2010 04:40 PM
Beyonca Clark
Century21 New Millennium - Lusby, MD

Troy,

Well said!

Jun 13, 2010 10:14 AM