We are listing agents, and we represent the seller.  When an offer is delivered and we have been negotiating back and forth and finally arrive at a verbal agreement without any signatures by either party, that home is still available.  We don’t take a home off the market until all parties have signed an offer to purchase and all changes have been initialed. 

Until that agreement is fully signed, the property remains as active in MLS.  Buyers have been known to change their minds, and sellers can do that, too.  Time is of the essence in real estate and the faster we accomplish and complete each task, the more secure and solid each task will be.

While the buyer’s agent is busy with other situations, the listing that he/she thinks is a done deal is being shown.  Until we have a signed, sealed and delivered agreement, the property is still on the active market. 

We always appreciate your business and we want you to continue to show our listings, buyer’s agent, but it’s imperative that you understand who we represent.  We want the highest and best deal for our seller, and one never knows who’s around the corner waiting to see our listing, while it’s still available to see. 

The buyer signs the offer and initials all changes first, and then the seller will finalize the deal.  Don’t assume the home is yours until that final signature is on the agreement.

Don’t put away your walking shoes.  You may be beating the pavement with that buyer, again!!!

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23 Comments on Get Everything Signed Quickly....You May Be Beating The Pavement Again

20 Most Recent Comments Displayed Show All

JUL
06
1,519,226 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Cindy.... I don't understand what some buyer agents are thinking, but they need to understand that there is no deal until both parties sign.... people can change their mind and not sign.
12:33pm • #4
378,406 Points 1 Featured Post Outside Blog Called Shot Master

Barbara, How true this is. I recently had a verbal agreement on a home as a buyer's agent. The listing agent said the sellers verbally accepted our contract, but the seller were away and not reachable to sign the contracts until 4 days later.  Although the sellers accepted my buyers contract, a bidding war soon followed on the 4th day. The frustrating part is, we could have been done with our attorney review period in those 4 days if the seller simply signed the contracts. Frustrating! Hope you enjoy your weekend.
12:54pm • #5
1,519,226 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Jeana..... that's another scenario..... and we know how everyone loves a bidding war!!  you enjoy your weekend too...
1:26pm • #6
535,858 Points 71 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

And don't forget the deposit/ earnest money. In Louisiana it's not a binding deal until the check is delivered. Agents have a habit of forgetting this minor point.
1:58pm • #7
1,519,226 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Good point.....
1:59pm • #8
780,271 Points 38 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I'm so happy to be able to put away my walking shoes!  Having just been both seller and buyer, it's nice to be on the finished side of both deals!
2:27pm • #9
1,519,226 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Sharon.... I remember when you did that....  it's a relief I'm sure....
2:33pm • #10
647,961 Points 63 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Hi Barbara, 

This is sooooo true. Here in NY we work with attorney's for the contract portion and they don't have our sense of "urgency" sometimes.  So I end up biting my nails for about a week waiting for them to get the job done.   The good ones, of course, recognize that losing a property becuase of a casual attitude towards the clock ticking is deadly.  The real problems arise when the buyer or seller insists on using a family member who is NOT a real estate attorney to "save money".  I can generally control the situation on my side, but the other side is another matter.  My late father did real estate transactions from time to time, but he was a real estate attorney for many years before switching specialties.  He knew what he was doing.   He said the worst problem was a confrontational litigator doing a real estate deal for a family member.  Apparently they often fancied themselves the real estate version of F. Lee Bailey...and I have found out the hard way  that it is just this sort of thing that can kill a perfectly good transaction. 
2:38pm • #11
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I actually state in the acceptance/counter that until we have a fully executed agreement, and with a deadline for that, we can continue to accept offers. Move fast
2:40pm • #12
1,519,226 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Ruthmarie.... sometimes we never get to the point of using an attorney becaue deal one is "no longer" and deal two is now the winner.... once we get into the legal end with attorneys hashing out the p&s, we leave it alone.... we nudge and remind them that the clock is ticking, but we rarely have a problem there.

Karen....good thought...
3:07pm • #13
1,498,967 Points 353 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Barbara...

I never rest until we go binding, because like you said, it ain't over 'till it's over!
3:20pm • #14
1,519,226 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Richard.....and yet, there are so many who exhale before anything is signed..... we take nothing off the market until we have it all in hand and the seller agrees to it, AGAIN.....
3:23pm • #15
703,167 Points 55 Featured Posts Outside Blog Called Shot Master

Great points Barbara, I recently had this same problem with a buyer agent who demanded i place the listing in pending as soon as she handed me the offer that still had changes from what the seller countered making it still an offer and not a contract. I do teh same thing, it is not placed into pending until everything is signed, sealed and delivered.
5:56pm • #16
270,955 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

Good evening to you Barbara thank you for your post it is a great one as usual. You are always right on track with what you say, it is not a done deal until all have signed, and then you have option times, financing time frame and a whole host of other items to get through before you are closed and funded. As a listing Broker that is what we are here to help our clients with step by step until the words closed and funded are heard. Have a blessed day talk to you soon.
6:30pm • #17
442,132 Points 70 Featured Posts Outside Blog Called Shot Master
Barbara, get it in writing then it binds the parties. Well said. suggested.
6:40pm • #18
477,249 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Barbara, more than one rookie lawyer gets this one wrong. Some have tried to argue that a verbal contract is a contract. However, you point out the great truth of real estate, "The only enforecable contract in real estate is a written one." Too many times agents forget this.

Cal
7:38pm • #19
JUL
07
647,190 Points 68 Featured Posts Outside Blog Attended Rain Camp

Hi Barbara.  It is amazing how the buyer's agent "assumes" the property is under deposit without signatures.
3:32am • #20
354,316 Points 30 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Barbara, isn't that the universal truth! Time is of the essence and I recently ran into a situation where the listing agent insisted he would not have his seller put anything in writing and his verbal was good enough - HA! A verbal doesn't mean anything if it isn't in writing. Buying a home requires a signed and executed contract. My buyers walked. That agent made them very nervous and I don't blame them one bit.
4:56am • #21
234,139 Points 36 Featured Posts Outside Blog Called Shot Master

Hi Barbara.   All kinds of ways to get something signed these days and it's pretty easy to boot.    Definitely not worth taking your time to get it done.   Once you tell the buyers or sellers the ramifications if they are dragging feet,  they are quickly on board too.
5:03am • #22
275,890 Points 17 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

This is why when I represent buyers I try to get the buyers' and sellers' signatures as fast as possible.  Another offer could come in and beat ours.  it has been known to happen. And the market is heating up!
5:44am • #23

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Barbara Todaro "New Franklin MA Homes"

Franklin, MA

More about me…

RE/MAX Executive Realty

Address: 445 Franklin Village Drive, Franklin, Ma, 02038

Office Phone: (508) 520-9881

Cell Phone: (508) 918-9148

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The Kuney-Todaro Team is the "#1 team in Franklin's #1 office." Our expertise is in marketing new construction and resale properties. New construction is our niche and we have sold 40 subdivisions in the area of Franklin MA.


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