Can You Put That in Writing

By
Real Estate Agent with Keller Williams Realty

You Can Always Tell When An Offer is Not Coming

Don't take the baitThis post was prompted by Bill (still BLiz to me) Spear's Ask an Ambassador:  Ignoring the Bait post about not falling for the okey doke (aka bait).  It reminded me of some recent communications with an agent about one of my listings.  It appears that her buyer wanted to negotiate all of the terms without ever writing an offer.  Over a couple of days I'd get questions like "Will the seller accept X amount of dollars?"  Then there was "Is the seller providing a "termite service agreement?"(on a cash only $33k property mind you)

There really wasn't much I could say as I am not the seller and I can only speak to that which the seller and I had discussed and deemed okay to share. However, permission to share or not, if you want me to take your buyer seriously have them put an offer in writing.  (DISCLAIMER:  Hold up.  Hold up.  Before you even go there, I am fully aware that an offer does not have to be in writing, whereas the contract does have to be in writing).  But since an offer is more than just price, it only makes sense that a seller would want to review an offer in its entirety and not just bits and pieces of it.

I knew when an offer didn't arrive the following morning as promised, it was unlikely that it would ever arrive.  But the questions just kept coming.  I know that agents are under pressure from their buyer or seller to communicate in ways that we'd rather not, but as the agent, it's still up to us to advise on the best approach.  In this case, the best approach, rather than ask question after question about what the seller would or would not accept, let's quit with the "baiting" and put a formal (wirtten) offer on the table.  Otherwise it's all just a waste of everyone's time. Everyone except my seller that is because I NEVER tell my sellers that I'm expecting an offer or tell them that an agent says s/he's going to be submitting an offer.  Why don't I share?  Well because that's an offer that may never show up and it does nothing except get my clients' hopes up.

FORGET THE BAIT

Yeah as always Bliz, you are so right.  You get to decide which bait is worthy of exploring, but let's put our experience to work and don't second guess the writing that is clearly written on the wall in color, bold, italics and underlined.

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Rainmaker
5,579,693
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for sharing your experience and your personal practice.

Nov 15, 2019 12:44 PM #1
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Charita- it's so good to see you here.   I'd suppose some agents don't get that until something's in writing, there's really nothing to work with. 

 

Nov 15, 2019 06:43 PM #2
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2,757,381
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

I can't count the number of times a promised offer never materialized OR the number of times my buyers planned to write an offer and changed their minds.

There are times I'll throw out a verbal query...the open house is swamped, it's at the top end of my buyer's budget...Is there any chance a full price offer will be the one accepted?  "No, we already have offers above that".  Saved some time writing an offer that was going nowhere.   But I also didn't have 23 follow up questions :)

Nov 17, 2019 06:31 AM #3
Ambassador
768,033
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Bill your last sentence was the rub.  I didn't mind the question or two on day 1.  It was the questions that kept coming for the next two days.

Nov 17, 2019 09:16 AM #4
Rainmaker
1,493,009
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

It's nice to see you!

I agree about the questions that come in bits and pieces. Send an offer, I'll review with seller, and we'll let you know....

If there are a lot of those questions, the buyer isn't sold on the house. So it's highly unlikely they'll be sending an offer.

Have a wonderful week!

Nov 18, 2019 06:02 AM #5
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768,033
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Hi Kat.  Great seeing you too.  All of these familiar faces that I miss.  This is like a homecoming or reunion for me.

As for the bit by bit questions, I'm not a big fan of wasting time (mine or anyone else's).  Not only do I not let my seller's know that there is talk of an offer, but if I represent the buyer, I don't get the listing agent or the sellers hopes up either with "dangling offer" method.

Nov 18, 2019 06:09 AM #6
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Charita Cadenhead

Serving Jefferson and Shelby Counties (Alabama)
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