Under Contract Just Before A Showing?!

By
Real Estate Agent with eXp Realty

So I called on Monday to set up a showing for Wednesday @ 5PM. I find out about an hour before my showing is to occur that the seller received an offer earlier in the day and decided to accept the offer about an hour before my showing.  My buyer still wanted to see the property and after viewing was very dissappointed that the home had gone under contract. He wanted to make an offer.

Here is the question of the week.... why in the heck did the seller accept an offer just before another showing was to occur. I have a sneaking suspicion that the this particular brokerage firm (agents) advised their client to accept the offer for one of two reasons, 1) the listing agent(s) are double siding the deal or 2) the listing company received an offer from the same firm.  Either way, would it have been in the best interest of their client to wait until after another showing before moving forward with the acceptance? YES!

My prediction will be proven true or false within the next several weeks (after closing) when the selling agency is revealed. It will be very interesting to see how this one turns out but will the botton line answer be revealed even after the closing? NO! Should a seller accept an offer just before another showing?

Comments (7)

Rebecca Savitski
BSR Real Estate Group - Cary, NC
NC Real Estate Listings
I would accept an offer prior to another showing also, when you have a great offer you do not want to risk losing it, the worse case scenario you can always be a back up offer.
May 24, 2007 08:38 AM
Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

Doug, you may be looking into this the wrong way.  I've had listings where we were getting a lot of activity.  When an offer would come in, I would let the buyer's agent know there are more showings already scheduled.  When you tell a buyer's agent this, many times, the buyer is willing to accept (almost) any counter you put in front of them just to execute the contract and to halt the other buyers from being able to submit offers that might be better than theirs.  It's never good to advise a seller to sit and wait and see if another buyer might submit an offer.  The buyer on the first offer might think the response is taking too long and they might go find another house and withdrawal their offer and then the seller is sitting there with no offers in hand.

There is nothing wrong with what happened.  Plus, making an appointment on Monday for Wednesday might have shown them that your buyer might not have been too eager to move forward quickly if they were to write an offer.  I only make appts 24 hours in advance, never more than that unless it's a Holiday weekend and I want the sellers to have as much notice as possible about the showing.

May 24, 2007 08:41 AM
Doug Lindstrom
eXp Realty - Loveland, CO
Rebecca and Donna- Thanks for the comments. Your points are well received but I may need to clarify a bit. In our market it is generally customary to give 24 hours notice before the expiration of offers and showings are generally few and far between. It only makes sense to me to wait another hour or two and see if the other showing has any interest. I may be completely wrong but I'll bet in a few weeks that my prediction will be accurate.
May 24, 2007 08:49 AM
Paula Paquin
Exit realty Optimum - Halifax, NS
Hi Doug ~ This has happened to me twice! and YES they were double ending the sale...I truly believe that the sellers agent should have gave you the HEADS UP that another offer was coming in and let your client view the property ASAP and decide if they were absolutely going to place an offer on the property.  Hopefully your client is pre-approved for a motgage, so next time you do not have to put this condition in the contract and you could act quickly.
May 24, 2007 08:52 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I have a feeling they are dueling also!  Send them a really good backup offer to show their client that {well you know}

If your client loved it, I would still pursue a backup. 

May 24, 2007 09:01 AM
Fred Pickard
Fred Pickard Innovations Realty Inc - Hershey, PA
Hershey, PA

Hey Doug,

If the LA knew you were going to write an offer, I can see your perflexion here.

But you were just showing the property. You didn't mention if you were showing several or if this was a 2nd showing to the same potential buyer or if this the first look through, so I have to assume the latter.

And to look at it from the listing agent side, how would you feel if you told a seller to "hold off" until a later showing and then you never heard from the showing agent again. Meanwhile the seller loses a viable contract because the first buyer decides to withdraw the offer.

You might have it right on but it's pretty foolhardy to immediately point the finger of suspicion, because the other four fingers are pointing back at you.

That's just my opinion, and you know opinions are like a**holes, everyone has one.

May 24, 2007 10:23 AM
Virginia Halter
RE/MAX Signature Properties - Harrisburg, NC
ABR, CDPE, CRS, GREEN, SFR, SRES

Doug - I have to say it would depend on the property.  I sold my own home four years ago and I can tell you right now that when the offer came in I jumped on it.  I did not wait for the other showings to happen because I knew my situation was that I needed an offer on the table and I got one!  

Also, I have had buyers in the past who insist an offer get accepted quickly so we can avoid the additional showings.  We have said that we won't wait, we would rather walk away.

It's a drag but there may be more to it. 

May 24, 2007 11:38 PM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?