Our Sellers Are Electing NOT to Respond to Your Offer.....

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

Under Contract  Bring on the Sellabrations...the Buyers are Out ...the Buyers are Out !  It was an exciting weekend with multiple offers on several well priced properties.....and as you browse through MLS you see the "Active with Offer" indicators everywhere...HURRAY !!!

   Homes all dressed up and ready to sell...priced at appraisable prices...ARE selling....a wonderful welcome to spring...and a boost in recovery to the market.

    Along with the wonderful offers....written by agents and buyers who understand that some homes...even those recently listed ....ARE priced to SELL and not to sit....and with that in mind, got out their pens and put their money where there House is...or will be....and wrote an offer like they meant it.

      Then......there were some offers....where both buyers and agents used the "plucked from thin air" price approach....an insult to the Sellers....an effort to steal...despite the agent being that multiple offers would be presented.  Yes, yes...we know...the agent is "just the messenger"....they have to write what the buyer demands. 

  Flying money   One offer was especially low....on a property that had not been on the market less than a week....maybe the agent didn't get the message we left...So I emailed again....politely and professionally...."Did you know that there are multiple offers on this property that will be presented tomorrow ?
    The contract indicated that the agent was a Buyer's agent...."Yes...." he replied promptly..."They wrote for what the property was worth."  Hmmmm....I checked the agent's sales production in MLS....one house sold in the last year....outside of the four county area at a very low price....With multiple offers, the Sellers elected not to respond to the offer and chose one that was well written with a solid price supported by documented financing and earnest money.

     Everyone is entitled to their opinion....best to assist the buyer with the facts...comparable homes that have sold...Whether you work under contract with a buyer as an agent...OR you are a Buyer working with an agent...thin air prices are not the buying mode of the day.  Just as a Seller may examine the sales record of an agent who will list a home...it's a good idea to learn the experience of an agent that is writing an offer.


         Some People Are MIS-READING this BLOG...ALL OFFERS ARE ALWAYS PRESENTED - the Response is the

     CHOICE OF THE SELLER....On with the Blog...

                                        If you really want to own/sell a home.....why risk insulting the Seller....losing a house you really want to call home...Take the advice of an agent that has successful experience.....and live happily ever after.

              If you are looking to live happily ever after in southeastern Wisconsin...call the Hansons...we are proud to be your ambassadors to the state we have called home for a lifetime....and know you will too.

 

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Re-Blogged 7 times:

Re-Blogged By Re-Blogged At
  1. Joe Jackson 04/02/2012 10:11 PM
  2. Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional 04/03/2012 11:31 PM
  3. Randal Jenkins 04/03/2012 11:28 PM
  4. Linda Jamail Marshall 04/03/2012 11:53 PM
  5. Daryl B. DeShaw 04/04/2012 12:29 AM
  6. Debbe Perry 04/04/2012 09:56 PM
  7. Winston Heverly 10/13/2012 08:10 AM
Topic:
Home Buying
Tags:
buying a home
writing an offer
hansonrealestatenet

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Rainmaker
306,880
Dennis J. Zisa & Associates, Inc.
Dennis J. Zisa & Associates, Inc. - Camden, NJ
28 years in So. Jersey and the Greater Camden area

Unfortunately, some buyer's agents need to come to realize that properly representing their client involves providing professional advice and guidance, even if its not what he wants to hear. A good buyer's agent should be more than a "messenger boy"!

Apr 05, 2012 12:29 AM #159
Rainmaker
3,269,936
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Thanks everyone...messengers are a dime a dozen...paid professionals on both ends of the transaction get satisfied buyers and sellers...and isn't that what we are all here to provide ?

Apr 05, 2012 12:39 AM #160
Rainer
143,795
Sylvia Jonathan
Coldwell Banker Platinum Properties - Irvine, CA
Broker Associate, SFR

It is really important for a serious buyer to have an educated agent representing him/her. Yes, the agent is the messenger. Hopefully the agent told the buyer what would get him in the ballpark. The choice to write an also-ran offer was the buyer's.

Apr 05, 2012 01:41 AM #161
Rainmaker
3,269,936
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Too true Sylvia...and the agent has the obligation to explain that whether they are a buyer's or seller's agent...the liklihood of getting an accepted offer is greatly diminished when you use the dart board method of choosing a price.

Apr 05, 2012 01:47 AM #162
Rainmaker
226,933
Liane Thomas -Top Listing Agent
BROKER Allison James Estates & Homes BRE 01885684 - Corona, CA
Bringing you Home!

Yes, had that happen last weekend too. Did a 2 day open house extravaganza, you know, ads, balloons, cookies, ponies, well ok, no ponies. Got 5 offers, 4 at or above, and one $30K under ask. Had the same conversation with the agent. How is the same agent selling in Ca and Wi?

Apr 05, 2012 05:12 AM #163
Rainmaker
3,269,936
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Hi Liane...I think the agent must be a snowbird....and maybe flies back and forth more frequently than we know :)

Apr 05, 2012 05:18 AM #164
Ambassador
4,273,504
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Sally, perhaps this agent has been conditioned by an agent that we make a lot of offers to up here and is just skeptical everytime he hears of multiple offers.  There is an agent who handles a lot of reo properties and is directed by the banks to do some questionable things.

Many of these properties have been on the market for 6 months or more yet every time we make an offer, it comes back immediately as having multiple offers and that we should submit another offer to try to beat these "other offers", my agent hints that he thinks its just a fraud, and after a while we start to look at every agent who comes back with this response a little skeptically.

Well luckily for you and your seller, you really did have lots of extra offers and this one agent and buyer really dont matter.

Apr 05, 2012 05:47 AM #165
Rainer
295,383
Paddy Deighan JD PhD
TimeshareLawyers.pro - Vail, CO
Paddy Deighan J.D. Ph.D

listing agent called me regarding an offer from a "professional negotiator" today...below low ball offer...I told the agent not to respond..it will drive Mr. Professional nuts...it certainly did

Apr 05, 2012 08:25 PM #166
Rainer
34,993
Dan Pinson
International Realty Partners - Phoenix, AZ
Broker,ABR,GRI,RSPS,SFR,TRC

Some agents are desperate enough to keep clients that make lowball offers. Selling one home a year is desperation.

Apr 06, 2012 04:41 AM #167
Rainmaker
401,193
Marnie Matarese
DWELL REAL ESTATE - Sarasota, FL
Showing you the best of Sarasota!

We have had several very distressed buyers lately who chose not to follow our advice as to the offer price and lost out on the home they really wanted.  Highest and best means just that and with the inventory in certain areas shrinking, the bargain basement deals are a thing of the past.  The good news is that when the buyers found the second home they really liked, they listened and their offers were accepted.

Apr 07, 2012 06:18 AM #168
Rainmaker
543,119
Jon Quist
REALTY EXECUTIVES TUCSON ELITE - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

Too many buyers do not keep up with market trends, listen to poorly informed friends and relatives, etc. and think every house is a fire sale. Not here.

Apr 07, 2012 04:18 PM #169
Rainer
80,813
Gary & April Greer
Century 21 Wright - Temecula, CA
Real Estate Professionals

Usually the knowledge of multiple offers wakes a buyer up to put in their best offer.

Apr 09, 2012 06:42 AM #170
Anonymous
trevor scott

You are my hero, I could'nt have said it any better. 

Apr 09, 2012 10:44 PM #171
Anonymous
Andrea Packo, KW MBS Team Buyer Agent & Realtor, Las Vegas& Hend

Great Blog!  I work exclusively with Buyers.  About 2/3 of them are investors in our Las Vegas market.  After many low ballers caused so much frustration, I made a decision in my business.  I spend time educating each buyer about the market and presenting facts and figures to let them know which offers are being accepted and the % they need to expect to pay of the list price if they want to be the winning offer.  If they agree to work with me after this, I'll show them properties, provide comps, write offers and build a working relationship.  My offers are clean with no additional expenses to the seller, which has resulted in many successful offers.   My investors now have multiple properties.  (By the way, I have fired buyers who persist in low-ball offers.  After all, I don't get paid for my time wasted on them.)

NV does require that I present all offers but I do try to let the buyer know whether or not their offer might be the winning one - never by price, only by %.  At these low prices, buyers need to be realistic and realize that compared to 4-5 years ago, EVERYTHING is a BARGAIN.

Now if we can just get more inventory..............................

Apr 10, 2012 01:44 AM #172
Rainmaker
3,269,936
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Good for you Andrea....time is valuable...and you are obviously a valued professional...best of luck to you !

Apr 10, 2012 02:09 AM #173
Ambassador
4,273,504
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Tim was that a comment that seems a bit of topic or an advertisment?

Apr 10, 2012 05:19 AM #174
Anonymous
Thomas Duane

I agree that it is a waste of time, but why do you care if you have multiple offers? Reply back with submit your highest and best or take the highest. You should still have respect for your profession and respond. Anytime you have multiples you are blessed. You may need to cross that bridge some day or he might have the perfect buyer for your listing in the near future.

 

Apr 13, 2012 03:03 AM #175
Rainer
36,640
Ken Anderson
Apex Results Realty Inc., Brokerage - Burlington, ON
Broker in Burlington, Ontario

Well, this blog certainly opened a can of worms!  Firstly, you assume the buyer's agent didn't do his job in advising his buyer to present his highest and best offer.  Nothing you have indicated confirms that he didn't.   Buyers today are as often as smug in thinking they know all about real estate and how to buy.  They hear and read all kinds of things, on air, tv, from friends and relatives, in newspapers, magazines and on-line.  They sift out what supports their position and ignore the rest, often including their agent's advice.  Since you don't know what discourse occurred between buyer and his agent, I feel rather uncomfortable that you would slam the agent, and check on his production, then make derogatory comments about him in a public forum, despite not revealing his name.  "No response IS a response..."  That is a poor statement to make and poor business etiquette.  Regardless of how you feel about the offer, it is up to you to take the high road and conduct yourself in a dignified manner.  And to guide your seller to as well, because it will reflect on you.  

Most of us have been on both sides of this proposition at one time or other.  In neither event is it pleasurable or desirable, but it can be unavoidable.  It's not what happens that is really important, but how we react to it.

I recall having to present an offer from a particularly recalcitrant buyer that I felt was an insult to the seller.  He proudly told me that he knew that we had to present all offers.  I respectfully let him know that I didn't have to write all offers, but I would in this instance.  I knew the listing agent well, and when I called to let him know I had an offer, I warned him to take his flak jacket with him.  He laughed and said not to worry, he'll be ready and prime his seller.  I also told him that I wanted an answer in writing, as my buyer was skeptical of agents in general.  He dropped off the offer in person, and couldn't stop laughing.  I opened the offer and written across it in great big letters was:  "READ, LAUGHED AT, AND REJECTED!" and signed by the owner.  I called my buyer and told him, then made an appointment to see him in the morning.  The listing agent and I went for a beer (I bought, obviously).  Two days later that same buyer had an accepted offer in his hand, after renegotiating with a seller who was comfortable in his own skin, and had a sense of humor as well.

The listing agent and I have been the best of friends for many years now, and still laugh at the 'insulting offer' that spawned our friendship.

Jun 13, 2012 04:27 AM #176
Rainmaker
3,269,936
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

  Not every detail of this situation wa revealed...slammmed...hmmm....you are making judgements aout a situation for which you lack the details....that is probably not good business etiquette...of course no names are revealed....your assumptions are not correct....an email would have been far more appropriate if you needed clarification....to us, that WOULD be businesslike rather than the sound of your own comment.

Jun 13, 2012 04:36 AM #177
Rainer
135,682
Matt Robinson
Professional Investors Guild - Pensacola, FL
www.professionalinvestorsguild.com

Beauty (and value) are in the eye of the beholder, so apparently to the buyer it was only worth the lower amount.  Great thing about real estate is you just reject the offer and move on...no harm, no foul.  I'm glad your sellers received an offer they were satisfied with.

Feb 12, 2013 01:38 AM #178
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
For All Things Wisconsin Real Estate...Call the Hansons
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