Special offer

Call your Sellers as I'm going to Write an Offer: I Don't Think So!!!!!!!

By
Real Estate Agent with Labrum Real Estate

 There has been much discussion recently about calling the home seller when an agent calls and says they are "going to write an offer" for their clients. Most Real Estate Agents were not in favor of calling the home seller to relay this information but a few made valid points that the seller should be informed. I personally do not inform the seller of "a what if offer" as I was hired for my Professional abilities to keep them off of an emotional Roller Coaster. You can't take an "I'm Going to Write" offer to escrow. I'm going to win the Lottery I just don't know when and I have yet to find a Bank that would make a loan on that presumption even though I'm sure of it.

 Three years ago, 2007, I was showing my buyer clients homes in Sun City California. They were ready to buy but there were a few things that needed to be ironed out with their financing before they would get an Approval from their lender. Not a big deal and one home in particular they really liked and wanted more information. So I called the listing agent and she answered my questions and I provided feedback on the home and my clients. Never said they were going to make an offer as that is not my practice as I call when the offer is in writing.

 Six days later the financing is cleared and my clients are ready to make an offer. So I check the Multiple Listing Service, MLS, to make sure the property is still available as it was the day before. I'll be darned if it's not listed with a different agent and I immediately called the first agent as I know her. Shock of all shocks when she related to me she had called the sellers and told them an "offer was on the way" after we spoke six days earlier. She said she just Assumed my clients were going to make an offer and when it didn't materialize her Sellers were irate as they were under a time constraint to get their home sold. They cancelled their listing with her and listed with another agent. Couldn't ride the Roller Coaster.

 Long story made short my clients offer was accepted and the second agent looked like a Hero to the Sellers. Clients are no different than anyone else in that they are looking for what is tangible and real. "What ifs" and "offers on the way"my head hurts are really only hearsay and you can't take them to the bank or escrow.

Rodney Mason, VP of Mtg Lending
Guaranteed Rate NMLS# 2611 - Atlanta, GA
AL,AR,AZ,CA,CO,FL,GA,IN,MI,MS,NC,NV,SC,TN,TX,VA,WA

So many buyers say they are going to make an offer on a home, only to move on to another property.  Until you have a signed offer, you really can't determine if they are serious or not.

May 24, 2010 03:55 PM
Susan Mangigian
RE/MAX Preferred - West Chester, PA
Chester & Delaware County Homes, Delaware and Ches

This is a lesson best learned the hard way.  I've been excited and let sellers know an offer was coming, only to have the buyers get cold feet.  Now mum is the word until I have it in my hand!

May 24, 2010 03:59 PM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

"I am going to win the lottery" so true.  Let's wait and see what arrives before building expectations. ~ Doug

May 24, 2010 04:01 PM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

RODNEY, My issue is not with buyers but agents who call and state I will have an offer.

May 24, 2010 04:03 PM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

SUSAN, That comes from experience and you have learned well young Lady.

May 24, 2010 04:04 PM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

DOUG, So True So true

May 24, 2010 04:05 PM
Amanda Evans
DFW Living - Fort Worth, TX
Real Estate Broker - Fort Worth Texas

When an agent calls me and tells me that the key worked, I get butterflies in my belly and cannot help but call the title company and schedule a closing time.  I'm all excitable like that.

NOT.  :)

I learned the hard way at least 6 times.  It took me a few tries to get it through my head.

May 24, 2010 04:21 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Keeping the sellers informed is the important thing to do. Telling them there are interested buyers is ok. Even when the buyer's agent tells me they are writing...I do not tell with the seller until a complete offer is made. They know when there are showings and even repeat showings. Encouragement but not false promises.

Recently had a buyer come to a house SIX times, brought contractors and  various family members. Told me how interested they were...getting their financing with the help of family...and never heard from them again.

Sellers were aware of each visit but never telling them of their intent to write. It sold to someone who saw the house one time and submitted an offer! Go figure.

Margaret

May 24, 2010 04:21 PM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

AMANDA, Learned to contain the excitement I see.

May 24, 2010 04:26 PM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

MARGARET. Excellent as the sellers are aware of what's going on but not excited about something that may never materialize. Seems the more times a buyer is in the property the less likely they are to make an offer.

May 24, 2010 04:30 PM
Dawn A Fabiszak
Private Label Realty ( Denver metro area, Colorado - Aurora, CO
The Dawn of a New Real Estate Experience!

Cameron~ I don't call the sellers until I have the offer in hand.  I have been told that the offer "is on it's way", only never to receive one.  Keep the sellers off the stressful emotional roller coaster ride,

May 24, 2010 05:24 PM
Paul C. Wilkinson
CENTURY 21 Preferred - Menifee, CA
GRI, REALTOR -Menifee, Murrieta, Temecula - (951)

Cameron - "My clients really like the house and are going to write up an offer!"  =  "My clients really like it, so please don't sell it until I meet with them again next week to see if they decided to put an offer on your listing, if they decide they don't like any of the other 10 listings we have left to look at today."

May 24, 2010 07:11 PM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Very, Very seldom to I relay this type of info.  A Bird in the hand...

May 25, 2010 10:49 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Cameron, I think a contract is one bird that has got to be firmly in hand before we get the seller all excited.  I wait until I have it and then call to lower their expectations before presenting.  It might not be perfect, but it is in writing and in hand. 

May 27, 2010 07:25 AM
Not a real person
San Diego, CA

I'm with you on that one. Just the facts, and without a written contract, there are no facts.

Jun 07, 2010 07:27 AM