Going through the ‘negotiating period of a contract’ (or in our case, multiple offers on any one property in a low inventory market) is a stressful situation for all. I know that I will represent my client in contract negotiations without divulging personal/contract information that could hurt my client’s chances of receiving or accepting an offer.
Why the seller is moving is NOT part of the negotiating period. Quite often, I am questioned by buyers at an Open House or agents flat our asking about the seller’s personal life. ESPECIALLY WITHOUT (better yet) WRITTEN PERMISSION! WHY they are moving is none of their business. Okay, to be a little more courteous….let’s just say I politely tell them, “I am not authorized to divulge personal information about my client”.
An agent creating a ‘Cover Letter for Their Buyers are not a good idea. When it is personal information about the buyer and the terms of what the buyer will or will not do…WITHOUT their permission is not a great idea. When it says, “my client will not ask for further credits, no repairs, no anything” and then during the home inspection the buyers start asking for credits and upgrades, I kind of figure the buyer didn’t know the letter was written. That tactic certainly will be on the edge of losing a contract. The Seller does not forget that detailed two page cover letter from the agent detailing why the Seller should accept their offer.
Giving away the status of the # of offers may hurt our chances of receiving multiple offers. Right off the bat a buyer’s agent/ or buyer will ask me how many offers did you receive so far? Sorry, again, I am not authorized by the seller to tell anyone the # of offers, the price of offers, what my seller will accept and so on. What IS acceptable is writing up an offer with the terms your buyer wants and me presenting it to my seller.
My client relationship is sacred.
So, stop asking silly questions.