Sorry...My Seller Has Rejected Your Offer

By
Real Estate Agent with RE/MAX Results 20344949

I work with a lot of buyers and submit many offers, so from time to time I get REJECTED!  I understand getting rejected when you make a silly low offer.  But sometimes the offers are in the ball park and they still REJECT you!

Ouch... I feel like I am getting slapped each time I type REJECTED! 

The interesting thing is in December I had a buyer get REJECTED 4 times and we kept going back and eventually he went up enough and the BANK came down and the offer was accepted. We closed Feb. 13th.

Often times you will look in the MLS and then see the house listed lower then your offer that was REJECTED.  Then I laugh and think wow "good job id*ots" for not accepting our offer.

Normally we find something better anyway, so its always for the GOOD for my buyers. I think if the offers are in the ball park the banks are better served taking them; instead of waiting to see if they can squeeze an extra few thousand out of a house.  I am sure they get it sometimes...but what about the times they don't?

-30-

Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate.  He is a Dynamic Life Coach; The Discovery Coach- "Helping you discover your talents, desires and purpose." Carstensen is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (NOW available go to http://tinyurl.com/wakeupmoments).

 

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Chuck Carstensen is a Realtor with RE/MAX Results in Elk River and Cambridge, MN.  Helping buyers, sellers and investors in great Minnesota counties like Sherburne, Isanti, Wright, Anoka, Chisago, Hennipen and Mille Lacs. He is a Certified Distressed Property Expert (CDPE).

Contact Chuck by emailing him at chuck.carstensen@results.net or by phone at 612-290-3809. 

 

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Ambassador
584,453
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

I had that same thing happen...we made an offer on a bank owned property..that agent told us to hit the road...2 months later, the price was down to what we had offered....so we came back in with the same offer.. :) done..

Mar 02, 2009 05:37 AM #1
Rainmaker
605,983
Brian Burke
Kenna Real Estate - Englewood, CO
Broker & Advising Expert-Denver Luxury Real Estate

Yes, isn't that funny (in a way). We had a bank counter an offer and buyers didn't want to budge. A week later that bank agreed on the original offer the buyers submitted. However the buyers had already found a better house for them. ~Rita

Mar 02, 2009 05:43 AM #2
Rainmaker
722,730
Connie Lou Barnett
Real Living/Home Realty - Owensboro, KY
GRI,CRS,CRB,SRMM,ARA,PRS,SFR,QSC

I just had that happen and the bank ended up taking $4,000 less than our first offer 4 months ago.  Hard to figure out sometimes. 

Mar 02, 2009 05:44 AM #3
Rainmaker
1,052,646
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Chuck..All sellers feel if they don't counter they are leaving money on the table, sometimes when the seller gets around to seeing those old offers as ones he should have taken the table is gone, along with the appliances, the wife and kids..you get the idea.

Mar 02, 2009 05:47 AM #4
Rainmaker
97,246
Brian & Marie Spray
www.DFWAreaRealtors.com - Action Realty Group - Frisco, TX
Frisco TX Realtors

We've been very lucky it seems, most listings around here are owner listings, our buyers have always gravitated towards these and once they got inside REOs or "Potential short sale' homes they didn't want to see any more of those.

Mar 02, 2009 05:47 AM #5
Rainmaker
255,567
Maria "Antoinette" Scognamiglio, GRI, ASP
Coldwell Banker Realtors - Mountain Lakes, NJ
There's no substitute for EXPERIENCE!

Rejection isn't fun unless it's bringing you closer to a 'yes'.   Crazy happenings out there.  I've had a seller break our contract over silly home inspection issues and go back on the market, then expire, then relist at $40,000 LESS than our offer.  Oh well. 

Mar 02, 2009 05:50 AM #6
Rainmaker
1,317,601
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I seen some short sales/bank owned - just follow the market downward!  I guess some of the lenders do not recognize a good offer when they get one.

Mar 02, 2009 06:05 AM #7
Rainer
120,567
Brenda Carus
Century 21 Zwygart Real Estate - Monroe, WI

I find it ironic when the asking price drops below a previously rejected offer too.  I had buyers save $15K on a house this way once.

Mar 02, 2009 06:06 AM #8
Ambassador
1,893,864
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Unfortunately I wonder how often it is the advise of the agent that steers the seller in the wrong direction.  I just closed on one of my "rejected" offers last week.  New agent had taken over the listing and we resubmitted the same offer from 6 weeks earlier and they took it.  Hmmmmm????

Mar 02, 2009 06:20 AM #10
Rainmaker
114,574
Peg Gilliland
Charlottesville Solutions - Charlottesville, VA
Broker, GRI, CDPE

Rejection isn't fun in less it brings the answer closer to a yes. Keep on posting.

-Peg

Mar 02, 2009 07:40 AM #11
Rainer
12,868
Ben Olson
Maple Grove, MN

It just goes back to the old adage, "Your first offer is usually your best offer."

Like Cindy, I wonder how much has to do with agent influence.  At the least, a good agent should be managing the clients expectations from day one... right?

Mar 02, 2009 08:00 AM #12
Rainer
234,048
Diane Rice
Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - Lansing, IL
SFR, SRES, CNC

It's not easy to not take rejection of an offer personally, but as you said, move on and end up getting a better deal.  There are many of them out there! (Thanks for posting a comment on my blog) 

Mar 02, 2009 11:58 AM #13
Rainmaker
1,158,838
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

Thanks for the comments.  My experience is that TIME is the biggest issue. Banks loosen up with time.  I normally know which offer they should have taken and which is a little low.  When I posted this today I felt the Bank had probably rejected an offer they should have taken. 

Mar 02, 2009 11:59 AM #14
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Im not sure what I would think if the bank rejected an offer and then listed the property for lower.  I think a lot of that is on the listing agents side.  Knowing what should be acceptable and what shouldnt.

Mar 03, 2009 06:35 AM #15
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Thats odd.  I made a comment a moment ago, and the AR sight said that my message was registered as possible spam.  Has anyone received that before?

Just in case it does not appear... my original comment was that I think that if a property eventually lists for LESS than an offer I received and rejected, that the listing agent is at fault.  They should have known better as to what should be an acceptable offer.

Mar 03, 2009 06:37 AM #16
Anonymous
Alex

What do you do when you submit an offer, the offer gets rejected for an alleged "better offer" then you find out the property closed for LESS than what your clients offer was? This has happened to me numerous times this year and i'm getting pretty fed up with all the underhanded BS!!!

Oct 15, 2010 10:00 AM #17
Rainmaker
1,158,838
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

Hi Alex,

Where are you out of and is it specific agents are a variety of agents?

Oct 15, 2010 10:21 AM #18
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Chuck Carstensen

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