Please don't Ask....We Can't Tell....

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

Thinventory is a plague that has spread across the country...more Buyers than Sellers...homes disappearing from the "For Sale" column to SOLD in minutes or hours if the Seller(s) allow it. We tell our Sellers that more is better in terms of exposure...and while the "first one may be the best multiple offersone " in term of offers...this is the kind of market where an overnight or two is likely to bring many more offers when more people are afforded the opportunity to see a home.

  Yes...we do know that "with the Seller's permission...." you can divulge the price(s) offered in some markets...that is what is considered usual and customary,...not the case in southeastern Wisconsin. Here...at least in theory...no one but the agents multiple offersinvolved, the Buyer and the Seller know who offered what price. When the sale has closed, the price is revealed to everyone...and not before then.

  No amount of asking,begging and pleading will change the "Don't tell" rule. It is a protection afforded the Seller...What if, for whatever reason....the offer falls apart...now...the "new" market of Buyers may choose to make an offer based upon that one...with some sort of "logic" for offering a lower one.realtor

     Soooo know that it is not always "about the money:...that is the highest price...there may be other factors that a Seller chooses one buyer over another. Buyers...has your agent talked to the Listing agent about what is important to the Sellers? Is there an "ideal" closing window that you can meet ? Is a show of significant earnest money important ?  Do the Sellers need to rent Back ? Without some knowledge of the Sellers situation..you may unknowingly not be writing your best offer. Buyers...be sure you hire an agent that has had the successful experience and training as a Buyers agent...it should not (in our opinion) cost you MORE...and if they tell you there is a charge to be a Buyer's agent...find a Realtor who considers it part of their job and does not have an additional charge.

   Buyers..Happy House Hunting...with a qualified and dedicated agent.

    This has been an educational real estate post brought to you by Sally K. & David L. Hanson, honored to be at your service for all things real estate in southeastern Wisconsin.

Posted by

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


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Rainmaker
1,843,987
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Sally and David - it is always good for buyers in tnterview their agents just like the sellers do.  But in most cases they don't know.

May 19, 2019 04:08 AM #1
Rainer
409,113
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

In the market that we are in, buyers have to act quickly in order to have a chance at a home in their price range.  There is no room for error.  Send the best offer you can possibly do and hope the sellers will accept their terms.  No one knows what the offers are so we need to make ours best.

May 19, 2019 04:49 AM #2
Rainmaker
3,163,659
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Sally. A good buyer's agent can ask the right questions, without violating any rules, to write the best offer. Enjoy your day!

May 19, 2019 04:54 AM #3
Rainmaker
4,308,808
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Sally and David,

Thank you for the educational post, and I liked the title.  Wishing you a great week ahead. A

May 19, 2019 05:06 AM #4
Rainmaker
1,833,439
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Oh, c'mon.  I know you can tell me.  I'm no danger.

We're friends.  Just let me in on it.

I don't even know what "it" is, but please, just let me in on it.

May 19, 2019 05:07 AM #5
Rainmaker
2,970,280
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I can't imagine why an agent would compromise their clients' negotiating posture by revealing the amount of the other offers, contract price, etc.... and yet I know some do and without their client's permission.

May 19, 2019 05:24 AM #6
Rainmaker
1,648,641
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

great post to share with buyers!  Thanks for giving me another great "script" to internalize! 

May 19, 2019 05:32 AM #7
Rainmaker
3,121,946
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

We recently received a call from an agent who we used to be affiliated with at the same broker. She rarely acknowledged us when we were there. She called us and asked what was the highest offer we received on our new listing. She said "come on, we're colleagues, you can tell me"  Noooooooooooooo!

May 19, 2019 06:34 AM #8
Rainmaker
2,443,353
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Buyers certainly have to be prepared to act, if they think about it too long, it will be gone!

May 19, 2019 06:39 AM #9
Rainmaker
3,237,902
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning, Sally and David - proper protocol is in place for a reason.  

May 19, 2019 07:44 AM #10
Rainmaker
5,258,102
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks so much for sharing your experience and your advice.

Have an outstanding week.

May 19, 2019 09:40 AM #11
Ambassador
3,181,004
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I've never understood the belief that all it takes is throwing some money at the sellers and that will win you the bid, Sally! That's not the case in at least half of the transactions - time is key to many and 'other' requests within the Offer can be critical to sellers too.

A good agent finds out the answers to these questions and passes them along to their good buyers, who in turn, take the advice of their agent and present the Offer he/she recommends! LOL

May 19, 2019 01:04 PM #12
Ambassador
3,771,686
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Sally and David- And this is exactly why it is so important to make sure that whether you're a seller or buyer you must make sure that you are working with an experienced and professional agent. Why would anyone want to give up their bargaining power. 

May 19, 2019 06:29 PM #13
Rainmaker
1,736,507
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Again, your term "thinventory" is so apt. I don't disclose price either until escrow has closed.

May 19, 2019 08:13 PM #14
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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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