Spill the Beans or Wait until Offer is in Hand?
I don't know how you handle verbal promises of offers, but I never tell the sellers till I see it in writing. In my market at least 50% of these promises never materialize into a real written offer. I see no reason to get the sellers' hopes up unnecessarily.
Spill the Beans or Wait until Offer is in Hand?
A trusted agent calls and sets a showing appointment. A few hours later I received a text that I will be getting an offer on the house the next day. This is good news because the seller is so poised for a sale and has been patiently (well not really) waiting for an offer on their home for months.
The question arises should I let the seller know this may happen? Some say yes and other agents say no. We have all been disappointed by the offer that was on the way that never arrived. A real estate agent knows all the things that can go awry from the buyer changing his mind to not qualifying for the financing. We tend to want to protect the seller from extreme disappointment especially if this was just wishful thinking from the other agent.
It depends on the seller. Some sellers want to know every click and tick mark that their home is making while on the market even if it isn't always good news. Other sellers freak out if the supposed offer doesn't materialize and it can throw them into a tailspin. You have to know your seller. In most situations I choose to send a text saying there was interest shown during the showing and the agent has alerted me that there may be an offer coming soon.
Honestly, this gives me some hope too and I want to share that glimmer of hope. I always caution the seller that it isn't definite until we have it in hand. It could even require making some follow up calls asking, Where is the offer you said would be coming, and having to deliver some not so good news. Opinions?
Spill the Beans or Wait until Offer is in Hand?
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