There are some rules of real estate decorum that I wish hadn't washed away. Here's one.
For many years, when an agent took an offer on a property, it was all but written in blood and on stone that it was to be expeditiously either accepted or countered or rejected.
None of this waiting to see how many offers could be collected, then picking the best one of the bunch, while those who turned in contracts and their agents sat on pins and nettles waiting for the Spoken Word.
In exciting markets, it has become the practice among many professionals to not require … (7 comments)
offers: LETTERS OF INTENT = ETHICAL & LICENSING ACT VIOLATIONS?
- 07/16/11 01:37 AM
THE AGENT'S CLIENT WHO HAS LOADS OF MONEY THE AGENT'S EMAIL TO ME: Good day, My name is xxxxx with (name of franchise office) and I have a client that is interested in your property. My client's offer will be all cash and will provide your client with a secure/fast closing. To expedite the negotiation process, my client will be presenting your client with a letter of intent. Once the details established, proof of funds and signed contract will be provided to make everything official according to TREC. My client would like to know the lowest amount your seller will take on this … (10 comments)
offers: "ANOTHER AGENT PLANS TO TURN IN AN OFFER SATURDAY." BANG, YOU'LL BE DEAD!
- 01/16/09 09:41 PM
I was wondering yesterday how many times over the years that a co-op agent has told me this: "Another agent has someone very interested in the property, too, and I expect their contract Saturday morning." It's a nonsense statement to begin with. It's sole purpose is an attempt to spook me into encouraging my client to submit an offer quickly and at the highest price; to throw reason to the wind. Interestingly I don't react well in these cases. In fact, I do just the opposite. While I advise my client that the listing agent says someone else is interested and … (10 comments)
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