Reasonable Amount of Time to Present Your Offer? . . .

By
Real Estate Broker/Owner with NoVa Brokers LLC 0225 094634

There seems to be a difference of opinion regarding the amount of time you have to present an offer to your seller.  Here is the scenario . . . 

On morning of October 7, 2016 called listing agent and asked if any offers for a particular property.  Seller said yes, offer deadline is Saturday October 8, 2016 @12 noon.

 

1.  Offer sent in October 7, 2016 @11pm to listing agent.

2.  Listing Agent confirmed receipt on October 8, 2016 @6am

3.  On October 9, 2016 no word yet.

4. October 10, 2016 - my buyers run into sellers (who they just happen to know very well) and asked if they received thier offer and the sellers said "no".  Buyers contacted me and asked me to check status of offer.  

5.  Sent email to listing agent and he said offers are to be reviewed on Monday evening.  I am thinking, you told me by Saturday and now it is Monday.  

6.  How is it the sellers received some offers but not our offer?

7.  Today is October 12, 2016 and still no word on offers or whether or not the sellers saw our offer. No communication from listing agent yet.  It is now 12:00pm.  We still don't know if our offer was presented.

 

Is this reasonable? Would love other agents take on this.  Seems some agents present offers as they come in like I do, but some take a different approach. 

 

 

Posted by

FOR ALL YOUR REAL ESTATE NEEDS

 

STELLA BARBOUR

NoVa Brokers LLC

1483 Chain Bridge Road Suite 103

McLean, Virginia 22101

571-814-3002 OFFICE

703-999-6104 CELL

571-281-2866 FAX

www.novabrokersllc.com

stellabarbour@yahoo.com

Licensed in Virginia & Maryland

 http://www.novabrokersllc.com/

 

 

 

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Rainmaker
3,659,560
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Stella Barbour, unreal how bad some agents make us look by now doing their job.  

Oct 12, 2016 02:16 AM #1
Rainmaker
4,561,471
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Stella, this past spring and summer we saw this often, but usually the LA would put into Broker remarks when offers were to be in by and response time.

Oct 12, 2016 02:25 AM #2
Rainmaker
500,033
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

The scenario you describe should be communicated to all agents - and authorized by the seller.  We have had sellers state that they will entertain all offers on a specific date at a specific time - and this is put in agent remarks. The fact that the listing agent is not letting you know what is happening is suspicious and in my opinion, not acting in good faith to all the agents who have clients interested in the property. 

Oct 12, 2016 08:25 AM #3
Rainmaker
3,499,897
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Unfortunately, we all seem to have to deal with some uncommunicative listing agents. How rude and unprofessional!

Oct 14, 2016 01:34 AM #4
Rainmaker
2,899,549
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That certainly doesn't seem like a timely presentation of an offer to me.  Especially, if the seller is in reach, and the listing agent has the offer.

Oct 14, 2016 09:33 AM #5
Rainmaker
188,085
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Tell me about it Myrl.  Story of my life. Thanks for stoping by.

Oct 16, 2016 09:47 AM #6
Rainer
133,440
Larry Riggs
Century 21 Redwood - Frederick, MD
GRI, SRS Your Frederick County Specialist

NAR code of ethics article 1 standards of practice 1-6.

•  Standard of Practice 1-6    RealtoRs® shall submit offers and counter-offers objectively and as quickly as possible. (Adopted 1/93, Amended 1/95) 

Also covered in Maryland law and I suspect in Virginia law also. 

Nov 27, 2016 04:37 AM #7
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Rainmaker
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Stella Barbour

Principal Broker, Serving Virginia and Maryland
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