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Why I Won't Tell You I Think An Offer Is Coming

By Liz and Bill Spear

Real Estate Agent with Transaction Alliance 513.520.5305 www.WarrenCountyOhioRealEstate.com SAL.2002007747

December 16, 2015 04:35 AM

Why I Won't Tell You I Think An Offer Is Coming

"An offer is coming!"

That's great news, right?? Except you're not going to hear me tell you as our seller that we have an offer coming UNTIL I have a copy in my hands.

Why? Experience on our part and the last thing we want to do is get your hopes up and then say "nevermind". That's just about one of the worst things we can do to you!

We see it all the time. A buyer and agent go through a home. Ask lots of questions. Go back again. "It's on our short list!", perhaps followed by "We plan to write an offer tomorrow.". And then, nothing.

We check with the agent just to make sure the email gremlins didn't munch on the offer.

Nope. No gremlins.

What happened?

A) Buyer just changed his/her mind about how much they liked the house.

B) They hadn't done their financing checks BEFORE looking at homes and guess what? They can't afford what they were looking at!

C) The REAL decision maker got involved. Maybe one spouse has been looking without the other and when the significant other looked at the home it was a "no go".

D) Your competition won. Maybe another property came on the market that was a better fit for their needs/budget.

E) They drove by DURING rush hour and realized just how bad their commute was going to be.

F) Icy cold, chilly feet. Sometimes buyers get terrified when its time to actually put pen to paper and commit to buying a home.

Bottom line, we've learned not to count our chickens offers before they're hatched. Once that offer is written and in hand, THEN we'll have that conversation with you as our seller and work to turn that offer into an accepted contract.

Just give us a call at 513-520-5305 and we can chat about how we can best assist you!

Serving Warren County area home buyers and sellers,
Liz and Bill aka BLiz

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John Wiley

Fort Myers, FL

Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Bliz, this is a great point and I agree it is best not to pre-announce the coming of an offer. So many things can tank the offer and then the Sellers are let down.

I always tell my wife about upcoming offers with a caveat: Don't spend it until its in the bank.

Dec 16, 2015 10:07 AM

Kathy Streib

Cypress, TX

Retired Home Stager/Redesign

BLiz- makes good sense to me. All you do is get the hopes up of the sellers and it will come back to bite you when they're disappointed.

Dec 16, 2015 10:24 AM

Karen Fiddler, Broker/Owner

Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA

Orange County & Lake Arrowhead, CA (949)510-2395

I rarely tell the seller either, unless it's important for them to know....like if they are about to take an offer, and there is time to wait. It's not up to me, it's up to them.

Dec 16, 2015 11:25 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.WarrenCountyOhioRealEstate.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Kat, I'd have sold another one this week IF the rumor had turned into fact. But it didn't, and that's okay. We'll work to get the next buyer.

Roger, It's a lesson I think most of us learn the hard way early on in our real estate careers. After that, we should have learned it and not repeated that mistake.

Bob, Always so many variables that can switch plans, I like knowing details are firmed up first.

John, Yep, even when that offer is a contract, it's not done until the ink is dry at the closing table.

Kathy, It's a good way to lose a client if we're not careful.

Karen, And a valid reason to bend the rule. We have to use good judgment so they can make the right decisions.

Dec 16, 2015 11:36 PM

Margaret Goss

@Properties - Winnetka, IL

Chicago's North Shore & Winnetka Real Estate

It's one of my hard and fast rules - I also learned the hard way many years ago. I felt foolish and unprofessional to have blurted it out before it actually happened.

Dec 17, 2015 01:50 AM

Michael Jacobs

Pasadena, CA

Paul S. Henderson, REALTOR®, CRS

Fathom Realty Washington LLC - Tacoma, WA

South Puget Sound Washington Agent/Broker!

A sound business decision Liz and Bill Spear. I don't or can't remember how many times I have been left with egg on my face

Dec 17, 2015 03:18 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.WarrenCountyOhioRealEstate.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Margaret, It's a lesson hard learned, but it's not one we've forgotten.

Paul, I have to SERIOUSLY trust and know an agent before I'd consider an advance warning to my seller at this point.

Dec 17, 2015 08:29 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.WarrenCountyOhioRealEstate.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Endre, Exactly, we want a smooth ride for our sellers and getting their hopes up for an offer that doesn't materialize is not part of that.

Dec 17, 2015 09:42 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Hi LIz and Bill --- so many variables exist in our business that it's just too risky(and potentially embarrassing as Margaret Goss mentioned) to discuss offers that may never be written and/or submitted. It's better to wait for that chicken to hatch than to have egg all over your face.

Dec 19, 2015 02:02 PM

Patricia Kennedy

RLAH@properties - Washington, DC

Home in the Capital

Hey, B'Liz!

I included this post in today's "Last Week's Favorites". Enjoy the rest of your weekend!

Dec 19, 2015 09:35 PM

Women of Westchester Working Together

Women of Westchester Working Together - West Harrison, NY

Women helping Women get ahead

Yes, it's the worst when you get someone's hopes up and then let them down. It's best to wait until you have an actual offer.

Dec 19, 2015 09:36 PM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.WarrenCountyOhioRealEstate.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Michael, I don't mind telling a seller a buyer seems to have strong interest, but the only time I'll be discussing an offer coming is if there's another one on the table and it might be in their best interest to stall slightly in their response.

Pat, Thanks for the inclusion!

Debbie, It's a mistake we don't repeat.

Dec 19, 2015 09:53 PM

Sheri Sperry - MCNE®

Coldwell Banker Realty - Sedona, AZ

(928) 274-7355 ~ YOUR Solutions REALTOR®

The furthest I walk out on the ledge is to tell a seller that we have had interest. I would probably back it up with the number of showings etc. and maybe that someone has been back to see it again. I always follow-up on showing so I get the feedback from the buyer's agent. It helps with marketing and pricing as well.

Dec 19, 2015 10:24 PM

Dorie Dillard Austin TX

Coldwell Banker Realty ~ 512.750.6899 - Austin, TX

NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Liz and Bill Spear ,

Great post and I'm with you on this one. You don't have an offer until it is in hand!! I certainly will share we have strong interest but until I have the offer..I don't!

Dec 19, 2015 10:37 PM

Pat Starnes-Front Gate...

Brandon, MS

Mike Cooper, Broker VA,WV

Cornerstone Business Group Inc - Winchester, VA

Your Neighborhood Real Estate Sales Pro

I'm with you, Bliz. I rarely tell an agent we're thinking about writing one as well. I may call to find out the property's status, but that's pretty much it.

Dec 19, 2015 11:34 PM

Kristin Johnston - REALTOR®

RE/MAX Platinum - Waukesha, WI

Giving Back With Each Home Sold!

Good point in not telling the sellers until you have an offer in hand...we have all been there

Dec 19, 2015 11:37 PM

Pat Starnes-Front Gate Realty

Front Gate Real Estate - Brandon, MS

601-991-2900 Office; 601-278-4513 Cell

Yes! Until the offer is in hand, it's ill-advised to tell the seller an offer is coming. I've stepped off that ledge a time or two, then the offer never came. It's better to have a bird in hand, as they say...

Dec 19, 2015 11:42 PM

Marte Cliff

Marte Cliff Copywriting - Priest River, ID

Your real estate writer

You're absolutely right. Back when I was an agent I came across more than one buyer who said "I'm going to..." but then disappeared completely. Those unhatched chickens can turn into rotten eggs.

Dec 20, 2015 12:23 AM

Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

It's a tough lesson to learn and not pleasant - been there and regretably done that. Never again.

I would make an exception if the sellers already have an offer and might want to wait, but it's their decision.

I also don't tell the other agent about a potential offer unless it happens

Dec 20, 2015 12:48 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.WarrenCountyOhioRealEstate.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Sheri, It's the safest path and avoids getting seller hopes up.

Dorie, Way too many times I've been told an offer is coming, then nothing. Things change fast in this business.

Mike, Typically the first time I'll have that conversation with the listing agent will be as we're writing the offer, just to find out if there are other offers (assuming they can disclose) and if there are any critical need to knows from the seller side.

Kristin, And it's not a fun destination!

Pat, No doubt, best to have that bird in hand :)

Marte, Funny how often a buyer that is ready to go can go POOF.

Jeff, I think every agent has probably done it at least one and wound up regretting it.

Dec 20, 2015 08:19 PM