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PRESENTING an Offer vs. RESPONDING to an Offer

By Carla Muss-Jacobs, RETIRED

Industry Observer with RETIRED / State License is Inactive Inactive License Oregon

June 29, 2009 09:08 AM

Is it just me, or have the lines been so skewed that a listing agent doesn't know what PRESENTING an offer in a "time is of the essence" manner means anymore?

RESPONDING to an offer is different.

PRESENTING an offer . . .

OH COME ON! Tell me your client doesn't have email when we were in his home on Saturday and SAW HIM on his laptop!

It's the 21st CENTURY!

My SCANNED documents containing the buyers' offer, with their pre-approval and earnest money was sent to the listing agent's email.

PLUS I FAXED the entire offer packet to her office (NOTE NEWBIES: TO THE LISTING AGENT'S OFFICE!)

Since it's NOT her listing to begin with, but the brokerages -- the call I received at 4:30 p.m. is disturbing to me.

Why?

The listing agent acknowledged receipt of the offer via email at 1:59 p.m. yesterday.

At 4:35 p.m. yesterday she tells me there's another offer coming in . . . and my clients should submit 'their best offer.'

But, she goes on to tell me . . . she hasn't even RECEIVED the second offer.

Yeah, I know!

Odd isn't it?

She wants to hustle us to get our 'best offer' to her so she can 'present' (OH, there's that word again!) it to her client. WHAT? You haven't emailed/forwarded it YET!?

You're getting another offer, Oh . . . but you haven't received it yet?

Hmmmm . . . the NAR covers PRESENTING OFFERS. Our state's licensing board covers PRESENTING OFFERS (under OAR -- Oregon Administrative Rules) AND the Sale Agreement states: "Written notices required or permited under this Agreement to be delivered to Buyer or Seller may be delivered to their respective Licensee with the same effect as if delivered to that Buyer or Seller."

I would call the SALES AGREEMENT aka an Offer to Purchase, a "Written notice."

I think it's very unfair that she even called me without even being in RECEIPT of a second offer. I try not to practice real estate where any parties (buyer or seller) would be treated unfairly, or manipulated.

Do you like it when your offers get 'SAT ON' so another offer can come in?!?

It's called "Professional Courtesy" . . . it goes a LONG WAY!

It's called a COUNTER OFFER . . .

Is it just me . . . or would you find this a "SAY WHAT" moment as well?

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Sylvie Conde

Sutton Group-Associates Realty Inc., Brokerage - Toronto, ON

Broker, Toronto Real Estate

Carla, I feel your pain ... BUT ... don't YOU put a date on the offer, that they must respond by?

I'm not sure how it works there, but here, the buyer is in control until the seller actually gets back to us IN WRITING.

So, if I put an offer forward today, we will usually give them HOURS to respond by (depending on the time of day we prepare the offer); and if it's late at night, we may give them until the next day at noon. If they don't reply by then, it's dead. NEXT!!!

We know we have to present immediately, and no seller would like to find out that their agent had an offer and didn't present it - no matter how good or bad it seemed. It's an offer. It's a starting point, and if they don't like it, they can counter offer and give us a deadline to respond by.

In multiple offer situations here, all offers get presented at the exact same time, while we wait, and we get an answer within the hour. It's fair to everyone this way.

Good luck with yours.

And don't let agents get away with things like this. If they don't present it immediately, report them... or this will never stop.

Jun 29, 2009 11:08 AM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

Thanks Sylvie. We did have an "expiration" to our offer. But that didn't mean the agent should sit on our offer until she gets ready to present it . . . Thanks for you comment. I like how they TCB in Toronto. Maybe I'll move there and practice. Here it's whacky! Just plain WHACKY!

Jun 29, 2009 11:13 AM

Cris Burlew

Beach & Luxury Realty, Inc. - Saint Pete Beach, FL

Broker ~ St Pete Beach FL Real Estate

Yes, it is frustrating. I was always taught, that offers are to be presented when received. At the very least, notify the seller that you have an offer in hand and when can we get together to go over it?

We've been seeing more of this sitting upon offers until another one comes in...it makes you wonder if it's the listing agents own buyer. Very uncool and in my book...unethical. I think a lot of agents have forgotten the meaning of presenting an offer or have forgotten HOW to present an offer.

Good luck with your offer.

Jun 29, 2009 02:21 PM

Diego A. Perez

Connecticut Lawn Painting - Wilton, CT

Carla, I think you got it right. they are trying to hustle you into a "best" offer

Jun 29, 2009 09:54 PM

Jim Valentine

RE/MAX Realty Affiliates - Gardnerville, NV

Sounds like a phantom offer to me. I agree with you - the guy was sitting in front of the computer is a good indication that he could have been given the offer via email. Highest and best works with banks and multiple offers, but one offer and one promised ... give me a break! That's bush league.

Jun 30, 2009 01:02 AM

Carla, you're right, the agent shouldn't sit on the offer, at all Here, we don't give anyone much of a chance to sit on any offers. Sometimes we have just a couple of hours to respond, and if we're really lucky (or when the seller is out of town), we may get 24 hours. Either way, I tell my sellers immediately - the moment the offer is received - that I have to see them to present. If people are at work, we present immediately when they get home. I just don't understand why the waiting game.

I can understand why someone would tell you that they have another offer, even when they haven't received it. They're trying to do the best they can for the seller, however, no offer in hand, sounds more like an offer that doesn't exist, so usually I tell them they do have our best offer.

We all have to do whatever we can to get our clients the best deal possible, however, we have to do it all without being unethical.

Jun 30, 2009 03:47 AM

Hi Chris -- the offer was rejected by the seller -- not even a courtesy counter!

Hey Diego -- I think I should get out of this industry . . . and find a career where PEOPLE (read:real estate agents) are not involved. Blades of grass don't mislead!

Jim -- thanks for commenting. Since I had been in touch with the listing agent for a few weeks, it's rather rude and disingenuous. I was told she 'had no idea' another offer was coming in. Hmmm . . .

Sylvie -- again, thanks for the comments and follow-up. You sound like a very honest and ethical agent. Of course I understand, and so do the buyers, that the seller wants the best. But we were side-swiped, no question about that!

Jun 30, 2009 05:33 AM

Wendy Rulnick

Rulnick Realty, Inc. - Destin, FL

"It's Wendy... It's Sold!"

Carla - Are you sure your offer was not presented? And the seller chose not to respond?

Jul 04, 2009 08:01 AM

Richard Weeks

Dallas, TX

REALTOR®, Broker

Perhaps there is a slight chance the other agent had instructions from their seller.

Jul 11, 2009 01:31 AM

Yeah, right Richard. I'll agree. A very slight chance . . . since we actually met the man twice. The agent was using our offer . . . an "old school" trick that a lot of agents who've obtained their license -- when my bike had training wheels on -- seem to practice.

Jul 11, 2009 07:24 AM

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