Why didn't you mention the other offer withdrew?

Verbal offers are meaningless until there are terms in writing and a meeting of the minds.  They can blow apart at any time.  Do some listing agents lie and imply an offer exists that doesn't - maybe - sometimes.  But the big concern is why your buyers put in the offer and changed their minds. You might have a problem with them getting "cold feet" continually. That type of buyer can be very time-consuming and unproductive.

That agent definitely should have told you about the other offer withdrawing.  I would be figuring out the why's of it all and see if I could get my buyer back in there with maybe a less "strong" offer since there are no others on the table now!

I wrote so many offers last year I would still submit EVEN if there was something verbally accepte.  It is never over till it is over. 

When I get an inquiry from an agent on one of my listings I will respond (if it is fact) "I have had (insert zero or number of agents or whatever is appropriate) say that they are writing an offer but I have noting in hand. Talk is cheap. Talk to your client and ask them to make a decision that they can live with - whether they write an offer or not. Call me anytime for an update."

Of course, if I have one or more offers, I will state that as a fact. If it drives a buyer away, I say "bird in the hand". I have the offer(s) in hand. If it makes them write a more attractive offer, good for my client - no? That is for whom I am working.

Michelle ~ Well said.  It is sometimes hard for us to look professional when others in our business act so unprofessional.

Isn't it crazy that agents do things that they think are right or the best thing to do?  When in fact it is the wrong thing, and they have NO CLUE???  Strange world we live in!

I am also one to believe that a verbal offer is not worth the paper it is printed on. I have had several "back up" offers that made it through for some reason or another. I will ALWAYS right an offer unless I know it is one of those Realtors who will only use your offer to up the offer of their own buyer.

Sounds like used car salesman tactics to me. Got a few of those agents in my area. Everytime you call to request to show one of their listings, it's ..."Tell your buyers to jump on it, I'm getting an offer"..."This is a hot property, I had 3 showings yesterday and one is writing an offer"...."I've got a hot buyer for this one, so if you're people are interested they'd better write an offer". And if you look at the listing 2 mos. later it's still active on the market. Yeah, right buddy!

Couldn't agree with you more.

If agents follow one simple rule...to be honest, then they wouldn't get into hot water. You should have been informed that there was an offer on the table and that the seller/s hadn't given a written response yet. The end. That was the truth. Your buyer might not have gotten cold feet had he known the offer had been withdrawn.

I don't say anything unless an offer is in hand....because we never know if it will come in or not....besides...the more the merrier :)

I have the multiple offer situation quite a bit but I ask if all parties have signed and do they have an executed agreement if the answer is no I tell my clients to put in their best offer, the one that they are comfortable with if the seller accepts the other offer. Give me your walk away, I'm ok offer.

The agent needs to represent their seller.  Telling you a "verbal" offer has been accepting is not representing their clients best interest.   If they were trying to work out a deal with someone - they should let you know, and you should always ask the current status.

Hi Michelle - that's a sticky one. What I tell agents is that I have an acceptable offer in hand, not that the seller verbally accepted it ... since we all know that means nothing!

Hi Michelle,  Being a " verbal " offer probably meant it had not been signed.  I'm also wondering how things might have worked out had she told you the full story.

It would have been courteous to tell you otherwise. A verbal accepted offer needs a signature but you were right to let the buyer decide what they wanted to do. Too bad the listing agent can't count & didn't know where her phone was? Odd. You could play a cruel trick on the LA and withdraw the offer because of her shenanigans.

With your "amended" comment on your original blog, I would have to say that even in a multiple offer situation, once the first written offer was accepted, unless there were contingencies, I would leave it open for showings.  Your buyers opted to view the property and write an offer, but then rengeged.  Where would that leave my sellers had we accepted your offer on the spot?  Sometimes it only takes hours for one to leave and another to show up. 

This again is a two-sided coin.