Q & A - Do I Need to Write an Offer Tonight?

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

The Denver real estate market has slowed a bit, but with some properties, buyers are having to make quick decisions with other offers coming in.    When homes are priced well, in great condition, and in a great location, you will see multiple offers.

 

It is imperative to call the listing agent to not only find out if there are other offers, but what the Seller prefers for possession, and to verify what will convey.   With more listings that have come on the market over the last few months, we are seeing fewer multiple offers.   There are times you "hear" about another offer, but is there?   This past weekend the listing agent said they had one offer and over listing price.    This morning, the home remains active.   My Buyer liked the home but wasn't completely SOLD on it.   

 

When Buyers write quickly after viewing a property, that usually means the Buyer means business!    If a Buyer waits for a 24-hour period, there may be hesitation with their offer.

 

I remember one home a few years ago that was on the market for almost a YEAR!  It was rural in Larkspur (a few miles south of Denver proper), but was a gorgeous home on acreage.   Of course, when my Buyer decided to write on it, the listing agent said there was another offer.    My Buyers and I both thought this was strange timing, and the Buyers ended up offering list price.  They lost the home by $1,000.  There WAS another offer.

 

As a Denver REALTOR®, I encourage my Buyers to write an offer if they love the home.  This market is not seeing low-ball offers yet, even though the market is softening.    If the home is over-priced, you may see one.      

Posted by

Joan Cox
Broker/Owner, REALTOR®
House to Home, Inc.

Serving the Denver Metro area including all suburbs


Helping Buyers and Sellers achieve their real estate dreams, one house at a time!

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Comments (26)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Here in North Carolina, you could lose your license, for sharing any information about other offers... even the existence of other offers. We need seller permission to share that we have offers. No one ever shares what the offer is. 

Jul 05, 2022 05:50 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina Hollander, Broker see how different our States are?   CRAZY, wish we were all a bit more alike, then it wouldn't be so different for the relocation buyers.  They would know what to expect, even though I share what to expect.

Jul 05, 2022 05:55 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

I wish the days of low ball offers were over. There are still some folks buying property here in Golden Valley and making low ball offers. Of course, buyers agents must follow the directions of their clients.

Jul 05, 2022 07:34 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Joan - in any real estate market, "sleeping on it" can be risky behavior.  The side-effects can be quite harmful to buyers who are not well-prepared to act.  

Jul 05, 2022 07:42 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Joan - looks like from the comments there are plenty of possibilities.

Jul 05, 2022 07:43 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Leanne Smith I have an investor buyer that wrote a low ball offer a few months ago, and evidently no one else liked the property either, it expired, and they put it back on several months later when the market was hotter.

Jul 05, 2022 07:49 AM
Leanne Smith

One of the hidden issues with low ball offers is other Realtors may become jaded when the only offers sent by one particular agent are low ball offers. After one client made two low ball offers against my advice, I suggested to the client to find another realtor. 

Jul 05, 2022 08:31 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael Jacobs there are times there is no huge rush, but sometimes "sleeping on it" results in bad consequences.   THANKS for the text!

Jul 05, 2022 07:50 AM
Michael Jacobs

😃

Jul 05, 2022 08:03 AM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Isn't it funny that as soon as one person has interest in a house another person does as well?

I tell my buyers that if they would feel sad if the house were to go under contract without them having an opportunity to make an offer, then they need to make an offer and not wait. 

If they like the house then someone else probably does as well.

Jul 05, 2022 07:59 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Jul 05, 2022 08:22 AM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Our market seems to be leveling off a bit but it is still first come with the best offer.  I encourage clients not to wait if they are in love with the home.  Have a fabulous day!

Jul 05, 2022 09:35 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, yes there are.

Jul 05, 2022 10:09 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Carla Freund you make very valid points, and if they WANT it, write and write quick!

Jul 05, 2022 12:32 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thanks Joe.

Jul 05, 2022 12:32 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Norma J. Elkins our markets are similar.

Jul 05, 2022 12:33 PM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Joan, I always love this question. It is such a set up. I always ask, on a scale of 1-10, how much do you want the home? whatever they say, I say...well... sounds like you answered that question yourselves.

Jul 05, 2022 01:49 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Joan,

As for the home that was on market for almost a year in Larkspur,  I call that the "law of Attraction."  I have seen that happen multiple times and is kind of a strange phenomenon.

Jul 05, 2022 06:03 PM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi Joan- buying a home is not a game to play. If you want it, make an offer. 

Jul 05, 2022 06:09 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, when you flip the question around, buyers usually see the answer.

Jul 06, 2022 08:18 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sheri, it was just plain weird, exactly the same weekend one year later.

Jul 06, 2022 08:19 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I agree Kathy.

Jul 06, 2022 08:19 AM