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A Verbal Offer's Not Worth The Paper It's NOT Written On.

By
Commercial Real Estate Agent with Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker AZ BR 528507000

We've all seen this.

'Suspects not prospects' will send a text or email and ask:

"Will the seller take X (usually pennies on the dollar)?"

What they may intend is for seller to counter them back and begin negotiations.

But what I tell our seller clients is:

Do NOT negotiate WITH YOURSELF! 

First thing, throwing out 'just a dollar amount' is FISHING.

Offers are about more than just the money. 

How many of you brokers have had a LOWER offer than the others end up selected, because the terms were more attractive to the seller? Earnest money substantial. Known, trusted financing. Timeframe made sense. The buyer was assuming some of seller's risk in exchange for a lower dollar deal.  Or maybe the buyer was more serious and professional than the others. So many variables.

Speaking of money - how would anyone know they HAVE the money without proof of funds?

Put it in writing. LOI is more than sufficient at first, but get the basic TERMS out there for the seller to see who you are and what you want . . .

That's how to get your 'offer' taken seriously. 

Otherwise, I tell prospects "The best you can hope for IS a counter, and if you get a rejection or simply ignored . . .

that screams loudly.

Comments(21)

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Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

Not only random texts, but agents who ask, on the phone or by text.  Nope, put it in writing if you want a response.   All written offers will be presented, verbals will not.

Jan 25, 2025 01:09 PM
Candice A. Donofrio

Agree. If a prospect does it, they're fishing. If an agent does it, they know it won't fly and don't want to waste paper! 

Jan 25, 2025 01:16 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

In writing, only counts as we well know, BB. 💋 Some agents think a phone call with a polite professional answering on the other side is license to negotiate all terms and conditions. NOT!!!

p.s. Love Goody Two Shoes! 🥳

Jan 25, 2025 01:19 PM
Candice A. Donofrio

Right BB! We don't speak for them, but on their behalf when there's a reason to.
My personal favorite is when the agent starts chatting about 'what ifs' and he hasn't even SEEN or SHOWED the property! I attach so much information and I'm like "HAVE you and your client downloaded the attachments and read them?" 
Uhhhh . . . not yet.🙃
And that's 30 minutes I can't get back - for nothing bc of what they should have done FIRST.
Adam is adorable! LOL

Jan 25, 2025 01:25 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.WarrenCountyOhioRealEstate.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Casts line out with shiny bait on the hook...we got a live one!!

I will go "fishing" on occasion before writing an offer (e.g. besides price what terms are critical to seller?).  I want to get an appealing offer over so ideally we can have minimal back and forth on anything other than price.

Jan 25, 2025 01:40 PM
Candice A. Donofrio

I will go "fishing" on occasion before writing an offer (e.g. besides price what terms are critical to seller?)

To me, that's not fishing. We now have to ask what the split is. I think it's perfectly reasonable to find out if the seller has a preferred title company, since we can't put that in MLS. If seller occupies, how long of an escrow would they need. And so on. That just helps to make a clean offer out of the gate and that's appreciated.

Jan 25, 2025 03:35 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

The seller will take the list price, if all other terms are good. Other than that, who knows? Send the offer and start the process.

Jan 25, 2025 02:00 PM
Candice A. Donofrio

💯!!!

Jan 25, 2025 03:35 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Candice,

You are so right! Put an offer in writing then the seller can review it and decide to either counter, reject or accept! People who text an offer like you described are not prospects they are in fact suspects!

Jan 25, 2025 04:48 PM
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home again, home again...

I like to call it "pre-negotiation".  I've had agents call me trying to pre-negotiate well in advance.... they'll start to bad-mouth the property just to make it sound like it's worth less (not worthless)... prior to bringing their offer.

I always tell them... "put pen to paper, and we'll both find out together how the seller will respond".

Jan 25, 2025 05:18 PM
Candice A. Donofrio

they'll start to bad-mouth the property just to make it sound like it's worth less 

Rookie Negotiating Strategy:
"Well, since your property's been on the market xxx days . . ."
Me: because seller is willing to hold and enjoy the appreciation till the deal makes sense. So don't kill a plastic tree! You're calling me bc your client is interested. They need to interest the seller! 

Jan 26, 2025 06:56 AM
Paddy Deighan MBA JD PhD
http://www.medicalandspaconsulting.com - Vail, CO
Paddy Deighan J.D. Ph.D

Candice...I can't begin to count the number of times I had to explain this to people!!!

Jan 25, 2025 08:18 PM
Candice A. Donofrio

Yeah . . . and buyers like to come directly to the seller's agent without (or without revealing) having their own agent. So they think they know what they do not!

Jan 26, 2025 06:57 AM
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

So True! If it's not in writing it not an offer. I agree with everything you said

There sure are a lot of so-called agents who try this. I think they watch the TV real estate shows and think that is how it is done... and by the way where are their brokers?

 

Jan 26, 2025 01:15 AM
Candice A. Donofrio

I just said the same above . . . they may either be trying to 'get an advantage' dealing directly with LA - or they're not listening to THEIR agent. Who may not have much control over their client! LOL
I OK with an agent calling and saying 'my client wants to come in super low, is it worth writing?' 
This is why even in residential I love LOIs!

Jan 26, 2025 06:59 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Candice - the world of woulda - shoulda - coulda is vast but in reality (and real estate) it comes back to the basics that were taught in the earliest days of the practice uncountable times.   

Jan 26, 2025 04:25 AM
Candice A. Donofrio

"Death by 'what ifs'" 💯

Jan 26, 2025 06:59 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Good morning, Candice... I just don't understand why so many agents still try to give me verbal offers... I tell them up front, they are welcome to do so, but I won't present anything until it's properly presented in writing with all the required attendant documents.

Jan 26, 2025 04:28 AM
Candice A. Donofrio

It's never just about the dollars to a sophisticated or at least sensible principal.

Jan 26, 2025 07:00 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

With pretty much every listing I have ever had, lowball verbal offers have been received and I more often than not don't even tell my sellers about them until sometime in the future, haha.  Your featured photo appears to show the big fish that my friend Ray Henson caught at one of the lakes near him after winning one of his big pickleball matches, haha.

Jan 26, 2025 04:31 AM
Candice A. Donofrio

😝

Jan 26, 2025 06:01 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I got a call recently. The buyer's agent asked if the seller would take less than the list price. I said "Submit an offer with a number on it that your and your client think makes sense and I will submit it to the seller and we will find out."

What did the agent think I would say? Did she expect, "Oh, sure. Seller really wants to sell for more."

Jan 26, 2025 05:08 PM
Candice A. Donofrio

I think it's either a rookie mistake or laziness. When I'm submitting an offer for a buyer, I want the element of surprise on my side. Making an incomplete offer could leave a lasting impression and not a good one.

Jan 27, 2025 04:46 AM
Jim Smith
The Property Management Company - Round Rock, TX
Broker,CRS,GRI,RMP,CNE,TRLP

It is all about the way a verbal offer is first presented.  There is nothing wrong with reaching out to the the other agent (whether it be for the buyer or the Seller), and open discussions with the general idea of what is possible (also known as market research). This often overcomes misguided perceptions on both sides.  Once we are in the general area of possibility, we then present a written offer of intent (non-binding; merely a bullet-point layout of the major terms.  if the other party remains interested, I will then draw up the formal offer to purchase. This greatly reduces the amount of staff/admin time, reduces the back-and-forth negotiations, and almost always leads to a far better transaction process for all sides.

Jan 27, 2025 06:24 AM
Candice A. Donofrio

I'm a firm believer in LOIs, which is standard practice in my business and those I deal with usually. 

Jan 27, 2025 06:59 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Candice A. Donofrio  I just had this conversation with a new agent. He was running around showing a house and negotiating the price. He started to discuss this with me, and I asked him if he enjoyed working for free. His face froze, and when I was done explaining the facts of not having it in writing, he did not feel so clever anymore.    

Jan 27, 2025 08:27 AM
Candice A. Donofrio

💯‼

One of the things we learn (hopefully, eventually) as a new agent is not to talk too much! 

Jan 27, 2025 11:03 AM
Gary J. Muccio, Associate Broker
Keller Williams of Central PA - Camp Hill, PA
Exceptional Customer Service!

Great reminders, Candice! I've worked with many seller who have taken lower net offers with better overall terms. Agents tend to think highest offer wins, but it's definitely more than offer price alone. A good buyers agent should call the listing agent prior to writing an offer and ask what things are most important to the seller, and include those terms/conditions in the offer. Yes, price is one of them, but not always the most important. Continued success to you in 2025!

Jan 27, 2025 09:53 AM
Candice A. Donofrio

The NAR settlement limited us as to what we could put in a listing. Even before that, our MLS began prohibiting us from putting even in the realtor remarks that the seller had a preference for title company. Split and title company are helpful to know before writing an offer. Other points like whether the seller can do a quick close or needs a longer escrow can be put in a listing for the agents to see. I have been putting in my listings in public remarks when the seller will not entertain lease or seller financing terms. That stops a lot of phone calls but not all. There will always be one or two agents that will call or text and say "so your seller won't do a lease option, huh?" 😝

Jan 27, 2025 11:08 AM
Peter Mohylsky,
Property Management International-Destin - Inlet Beach, FL
Call me at 850-517-7098

I agree, if it is not on paper it does not exist.  trust experience on this one.   

Jan 27, 2025 11:34 AM
Candice A. Donofrio

Yup! Those hinky 'offers' tend not to materialize!

Jan 27, 2025 04:46 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Associate Real Estate Broker

The offers that get sent cryptically with a text, email or a quick phone call have little merit.   Like so many things in life, it's show the details and then we have a starting point.

Jan 27, 2025 03:28 PM
Candice A. Donofrio

💯!!!

Jan 27, 2025 04:46 PM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

I've had this happen quite a few times. Not trying to be rude but I ALWAYS tell them "put it in writing". With most of our purchase contract online it makes prudent sense to have it on paper. More likely then not you won't be taken seriously by the seller AND you are wasting everyone's time.

Jan 29, 2025 12:53 PM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Absolutely.🎯 Our sellers take a dim view of being trifled with. As do i. 

Jan 29, 2025 02:00 PM
Ginger Harper
Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

In the beginning of our careers....many of us thought that they would work...NO NO NO

Jan 31, 2025 09:44 AM
Candice A. Donofrio

It does not work. 💯

Feb 01, 2025 05:31 AM