Some Things Never Change ...Make The Offer

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

A similar post was written back in 2008 and is still relevant today.

 

Years ago, a buyer called to see one of my properties for the second time. When I told her the home went under contract a few days before, this buyer was surprised and even acted shocked. "I have been watching this listing for a long time, and I thought I had plenty of time!"  

 When you see a home that suits your needs, don't be afraid to make an offer. Since I make all my appointments, I know everyone who views my listings. Some buyers have been "trained" not to show interest, but this can backfire. If this buyer had shown any interest, she could have been encouraged to move forward, and I could have notified her that there was other interest in the property. It was the right place, the right price.

 

submit an offer

 

Agents, please encourage your buyers to make an offer. Are you worried about  "insulting" the other agent or the seller? 

Please, please insult away!  I have ratified many a contract where the sellers have previously said, "No way am I giving this house away." Some sellers may not want to take or even negotiate an offer lower than they anticipated, but you have to try. 

A contract is not an insult. It is a starting place for negotiation. It demonstrates that the buyer is interested enough to go through the process, have a qualifying letter, sign all the necessary papers, figure out dates for closing, home inspections, etc.

Agents ask

"Will the seller take $XX for the house?"

 

Sorry, this is not an offer, not a contract; it must be in writing.

They say

"I don't want to waste time by making an offer that will not work."

 

But until you put it in writing, we don't have anything to talk about, and we don't know what the terms are. 

With a written offer, a seasoned agent is worth their weight in gold. (Well, maybe just a full commission.)

Now you can prepare and present net sheets showing what the proceeds to the seller will be.

 

The first net sheet says  "In a perfect world" - this one has the full list price, 30-day cash settlement, and no contingencies.

 

The second net sheet says, "In the real world" - this is the actual offer in hand. This one includes a summary with price, date, contingencies, financing - in other words, the good and not so good points, but it is what we have.

You have two choices, accept or reject. A counter is a rejection and allows the buyer to walk.

More net sheets are examples of possible ways to negotiate. Sometimes this is price alone, and sometimes it the terms. It could be the date of possession or exclusions, but most times, it is a mixture of all these. 

Now you're ready to negotiate, but it can't start until someone makes an offer.

Buyers and agents, please do not worry about insulting us with an offer..just do it! 

Make me an offer!

 

Margaret Rome

 

 

 

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Maryland Baltimore County
Groups:
Cosmic Cow Pie...The Rome Way
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Tags:
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make an offer
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Rainmaker
5,178,978
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Margaret Rome, Baltimore Maryland the home will never be theirs unless they make that first offer....  and this is why only 10% of the agents do 90% of the business.... those are MY thoughts on percentages.... if everyone knew how to do this, ALL listing agents who be "rolling in dough!!"

Dec 05, 2019 05:00 AM #9
Rainmaker
3,417,200
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Margaret. Seize the opportunity to make an offer before you hear "too late"! Enjoy your day.

Dec 05, 2019 05:14 AM #10
Rainmaker
3,474,625
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Margaret - true in 2008, true today and quite likely true in the future.  Act decisively in real estate and in life.  It's not a place for the timid.  Be prepared to move forward.  

Dec 05, 2019 05:42 AM #11
Rainmaker
2,028,109
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Margaret Rome, Baltimore Maryland - that is so very well said.  You have to do the process make an offer!

Dec 05, 2019 07:33 AM #12
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Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

After all of these years in real estate, the one I've never understood is the house that sits on the market for two months and then in one day gets three offers. The other agents and buyers don't believe you and someone ends up losing out. Good reminder!

Dec 05, 2019 09:17 AM #13
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mimi Foster That happens with my unusual homes that have been on the market for a long time and then we wind up with several. And there is someone doubting you until they see it in pending status.

Dec 05, 2019 04:52 PM #14
Rainer
222,885
Robert Hicks
United Country River City Realty - Savannah, TN

“ A counter is a rejection....”
I love it!!!

Dec 05, 2019 07:00 PM #15
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Robert Hicks How have you been?  Always good to see you.

Glad you like "A counter is a rejection." Don't you agree?

 

Dec 05, 2019 07:19 PM #16
Rainmaker
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Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Good advice. Sometimes a listing can sit for a long time - then one person decides they want it and it's as if that idea floated out into the universe for others to catch. Suddenly, they have competition.

Dec 05, 2019 08:39 PM #17
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Marte Cliff It is funny how that happens. Unexpected competition, that is sometimes not even believed.

Dec 06, 2019 09:36 AM #18
Rainmaker
1,573,085
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Back when I was an agent there were no "hot markets" like we see now - at least not here. I was always reluctant to tell people there was another offer coming in because some didn't believe it - and others would say "Fine, then let them have it." On the other hand, if you didn't tell them and they lost out, they'd be angry.

Dec 06, 2019 10:12 AM #19
Rainmaker
1,401,626
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Margaret,
This subject is timeless. Sadly some agents don't know how to deal tactfully with low offers.  It's not an insult. It's an offer... a starting point for negotiations. For them to allow their seller to think it's an insult is a crime.

And, the reverse of that is the buyer's agent who doesn't know how to tactfully submit low offers. Bashing the property is the worst thing to do... but that's a whole 'nother blog post, isn't it?

Dec 06, 2019 10:34 AM #20
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Marte Cliff So true. We have to weigh our words. And we have to know the personality of the other agent. Good agents can be upfront with. What I usually say: should we get an offer, would you like me to notify you? ( Of course, then it may be too late.)

Dec 06, 2019 01:47 PM #21
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Carol Williams, You get a double like on this comment. 

You cannot insult me with an offer! And I won't allow my seller to be offended. The people who saw the house and did NOT make an offer; that was an insult!

Dec 06, 2019 01:51 PM #22
Rainmaker
1,491,418
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Great advice that will never get old! If a buyer loves a home, they should make an offer. Right away. Offers which might seem insulting can often result in a sold house!

Dec 14, 2019 06:21 AM #25
Rainmaker
3,740,672
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Margaret. You are so right about this: some things never change. The time to move forward is absolutely when you see it.

Dec 14, 2019 07:01 AM #26
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Kat Palmiotti So true. They may also lose the house but they may be able to negotiate. 

Dec 14, 2019 09:54 AM #27
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Sheila Anderson Good to see you. Some things just never change.

Dec 14, 2019 09:55 AM #28
Rainmaker
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Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Sometimes it's difficult for those first time buyers to pull the trigger -- esp if they expect their first home to have 99.9% of their wish list!  I actually had one buyer say to me "well I thought they would accept my offer because I'm a nice person, even though it wasn't list price"  (multiple offer situation).  Eyeroll!!

Dec 19, 2019 10:01 AM #29
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mary Hutchison, SRES, ABR Wait a minute! She was a nice person and that wasn't enough of a reason?  They really wanted more money? Guess 'nice' didn't cut it.  

Dec 19, 2019 11:42 AM #30
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