Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
2,387,705
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

If they missed the deadline, they missed the deadline. Otherwise, what's stopping someone sending one in at 3pm and expecting you to deal with it? That being said, I'd ask the sellers what they want to do, but in one sense you've just changed the rules for everyone else who played by the rules YOU set. Does this mean you will give them all a chance to revise their offers?

Mar 13, 2018 12:47 PM
Rainmaker
656,013
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Ask the client how they want to handle it. It is their home and their money we are talking about. Now does it always work out. Recently had exactly this situation, had told the agent we had 5 offers in hand all very good. We waited and his offer was under asking by quite a bit. Was not worth waiting for and the sellers were quite annoyed but thier choice to wait.

Mar 13, 2018 12:27 PM
Rainmaker
929,537
Corinne Guest
Barrington Realty Company - Barrington, IL
The Choice of Professionals for Luxury Home Buying

Up to the seller, but law says you must present it when it arrives. Seller can choose to wait or not.

Mar 13, 2018 01:12 PM
Ambassador
3,580,900
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

I would ask the seller as it's their decision.

Mar 13, 2018 12:44 PM
Rainmaker
2,453,235
Richard Weeks
Dallas, TX
REALTOR®, Broker

Simply put follow the legal instruction of your client.

Mar 13, 2018 12:25 PM
Rainmaker
4,260,094
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

it's the homeowner's decision....and it would be wise to wait for the offer....the agent should call, if that's the scenario, and tell the buyer's agent to hustle...

Mar 13, 2018 12:48 PM
Rainmaker
2,567,506
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I would ask my client how they want to handle it.  It seems like it would be in their better interest to at least look at it.  In the meantime, review the ones you have.

Mar 13, 2018 12:07 PM
Rainmaker
601,561
Richard Bazinet /MBA, CRS, ABR
AZuRE Team - Realty ONE Group - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

You have to present all offers to the seller. Regardless. And you take your instructions from your client - that's not an issue for the agent to decide but for the seller.

Mar 14, 2018 05:45 AM
Rainmaker
591,011
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

All offers are presented to the seller.

Mar 13, 2018 06:33 PM
Rainmaker
2,584,659
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Seller makes that decision.  That would likely depend on the offers we have in hand. Might not be any need to wait for the late-comer offer. 

Mar 13, 2018 05:50 PM
Rainmaker
565,039
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I would ask the seller if he wants to wait a few more minutes (clearly defining 'a few more').
If he says OK, I would tell buyer's agent you have x time, don't mess up or you will be SOL!

And there is no 'd' at the end of SOL! 

Mar 13, 2018 02:36 PM
Rainmaker
1,212,727
Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

I'd say "unless you can get it in my hands in 5 minutes we will consider it a back up offer regardless of the amount". Praful Thakkar 

Mar 13, 2018 01:38 PM
Rainmaker
1,067,656
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'd tell them that we're reviewing offers in 5 minutes and will likely be picking one.  Email it now and call when it's sent or you may lose out.  I'd also feel them out for the dollar value and terms.  I'd let the sellers know that there is an offer allegedly inbound from someone who missed the cutoff time and see if they want to wait for it and give them the info I received about the offer.

Mar 13, 2018 01:16 PM
Rainmaker
224,637
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

I would ask my client whether he wants to wait or just proceed with what we have in hand.  

Mar 13, 2018 01:04 PM
Ambassador
3,389,539
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

We do competitive bidding on our timber sales and our association has laid out very specific rules on this that require us to be strict about deadlines, any late bids will be sent back unopened.

Mar 13, 2018 12:33 PM
Rainmaker
1,372,220
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Continue as planned which is honoring what you said to the other agents. If another offer comes in, start again then. But eventually, you will have to stop right?

Mar 13, 2018 12:27 PM
Rainer
182,681
Caroline Gerardo
Eagle Home Mortgage, LENNAR HOMES Home Loans - Newport Beach, CA
C. G. Barbeau the Loan Lady

Call agent with a sweet urgent... "Bring in now Please." WE are reviewing all offers at 2:00 during our meeting. Buyer agent answers: "yada yada I can't type that fast, or they don't have prequal yet or ..."  "Handwrite and have them wet sign the offer while you type up and review the details, we are in play now."   My market there are minimum five offers on any property priced to sell. Meanwhile I would tell seller and see if they are willing to wait an hour or whatever reasonable time frame the Buyer agent communicates 

Mar 13, 2018 12:10 PM
Rainmaker
2,645,359
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

It becomes a seller's choice.

Mar 14, 2018 05:25 AM
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

It is absolutely not up to me, Praful - it's the sellers' decision, not mine. So, I can't say what they will do - each seller is different. 

My duty is to my seller, not me!

Yes, this is a pet peeve of mine - agents say, "I've given everyone a deadline." or "I'm calling for highest & best."  Sorry, it's not my deadline to give or highest & best to demand!

Mar 13, 2018 08:46 PM
Rainmaker
190,401
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

By law ALL offers in writing must be presented to the Seller

Mar 13, 2018 05:57 PM
Rainmaker
487,895
Mike & Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

It is your fiduciary duty to present ALL offers...even those an hour late.  Do you really think the seller will say they don't want to see it?

I would however ask the agent for a verbal and give it to the seller...

What if it is $10K more than the others?....it is not up to you to draw the curtain...

Eve

Mar 13, 2018 04:46 PM
Rainmaker
305,699
Jill Murty, Realtor - Orange County, CA
PREA Realty - Laguna Niguel, CA

I'd tell them to go ahead and send the offer. If it's a multiple offer situation, you'll probably send out counters anyway and that'll buy a little time for the newest buyer.  If the sellers accept an offer, send the offer back initialed by the sellers as rejected.

Mar 13, 2018 03:01 PM
Ambassador
1,905,569
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

It's up to the seller to decide especially if no other offer has been accepted yet. 

Mar 13, 2018 02:41 PM
Rainmaker
285,897
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Your seller would determine whether or not to look at the offer. As you know, all offers have to be presented, but the seller may elect to disregard the offer as it came in late.

Mar 13, 2018 02:24 PM
Rainmaker
2,880,085
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Discuss with seller and document. 

Mar 13, 2018 02:02 PM
Rainmaker
4,598,770
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Disclose the situation to your clients and work in their best interests.

Mar 13, 2018 01:53 PM
Rainmaker
1,155,620
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Number one it is a game one plays.

Number two if it is a listing all offers should be considered until one has been accepted.

Number three I am not a fan of this!

Just out of curiosity if it is stated in the MLS this way and no offers come in or are accepted do you do it again the following week and change the dates in the MLS?

Mar 13, 2018 01:31 PM
Rainmaker
374,279
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

I would ask them to tell me over the phone the details to know if even in contention with the offers in hand, may be a non issue. 

Mar 13, 2018 01:08 PM
Rainmaker
462,511
Dan Tabit
Northstone Real Estate Inc. - Sammamish, WA

I've had this happen, and actually been on both sides.  If a seller wants to see it, it's their choice. I would encourage them to wait & see, but present the other offers if we had scheduled a time. 

One thing I do is anticipate this. I request offers well in advance of presenting them, 3:00 pm deadline with a 7:00pm presentation. I want the time to review the terms, speak to the lenders and verify anything that might be unclear.  

Mar 13, 2018 01:01 PM
Rainmaker
3,723,321
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Ask the seller if they are willing to wait.

Mar 13, 2018 12:53 PM
Rainmaker
119,321
Terri Woods
Bexar and Comal Counties - San Antonio, TX
Selling Real Estate in San Antonio, Texas & Area

I would ask the seller what 'they' wanted to do. It is their property and their decision. 

I would definitely go over the offers in hand and at the end of the presentation, if the other offer is not received, I would probably not wait. 

As an agent, I have been on both sides. I try and communicate clearly to the other agent the situation and ultimately, the Seller would make the final call.

Mar 13, 2018 12:30 PM
Rainmaker
4,246,747
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Ask your seller.

Mar 14, 2018 07:07 AM
Rainmaker
2,926,422
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Depends on what the Seller instructs

Mar 14, 2018 05:15 AM
Rainmaker
2,434,885
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

By State statute all offers must be submitted to the seller, regardless of the time line.  Even if the sellers have already accepted an offer and another one comes in you are required to present it also

Mar 14, 2018 02:51 AM
Rainmaker
489,806
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

My market is upscale so having a cup of coffee while looking over any offers in hand and then including a late entry might make a big difference in money to my sellers. Why rush accepting one? I know of one where acceptance was delayed for several days and the seller netted several hundred thousand dollars more. Of course all agents were informed of this decision of the delay and were asked for "highest and best."

Mar 14, 2018 12:54 AM
Rainmaker
654,843
Diana Zaccaro
Tropical Realty Beachside power by eXp - Cocoa Beach, FL
Your Brevard County, Florida coastal connection!

Ask the seller if you did not discuss this possibility when you took the listing.

Mar 13, 2018 06:58 PM
Ambassador
3,662,618
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It is the seller's decision and would let them know that the call came in at 1:55 but these promises sometimes do not materialize.

Mar 13, 2018 06:47 PM
Rainmaker
1,708,315
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist
  • Ask for exact details on their offer
Mar 13, 2018 05:40 PM
Ambassador
2,051,678
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 If the Seller hasn't accepted anything yet, tell them to send it.  

Mar 13, 2018 05:35 PM
Rainmaker
3,410,472
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

It's always the sellers decision!

Mar 13, 2018 05:18 PM
Rainmaker
2,267,607
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Come all ye faithful....

Mar 13, 2018 03:38 PM
Rainmaker
860,109
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

If my listing contract specifies a deadline for offers to be submitted this discussion has already taken pllace with the Sellers. I do say NO, have said NO and will say NO whenever necessary, this is one of those times.

Mar 13, 2018 02:55 PM
Rainmaker
944,392
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Whatever the client wants to do.

Mar 13, 2018 02:46 PM
Rainmaker
648,429
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Up to seller. Tell agent that you are beginning to review offers, and to submit as soon as they can, but also let them know that you'll call them back if sellers ratify one of the offers being reviewd at 2:00. They could also text an outline with details of their offer to see if it's even worth waiting for.

Mar 13, 2018 02:10 PM
Rainmaker
369,306
David Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality

The decision wouldn't be MINE its up to the seller and how they wish to treat it. As Nina Hollander Nick & Trudy Vandekar, 610-203-4543 Barbara Todaro and others have said and I agree.

Mar 18, 2018 08:26 AM
Rainmaker
3,521,937
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

If that agent isn't going to send the offer in on time, what else will go wrong with the transaction?

Mar 16, 2018 03:09 PM
Rainmaker
532,006
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

If the Seller has not selected or made changes to any offers received, then I would be oligated to review the new incoming offer.  I would then notify the other agents who submitted their offer of the new offer and provide them an opportunity to make any revisions .  That would be in the best interest of my client to review all offers.

Mar 14, 2018 04:32 PM
Ambassador
2,713,517
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

tell my seller and let them make an informed decision.  NOT my call.

Mar 14, 2018 01:10 PM
Ambassador
2,933,912
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I had this happen and the offer that came in after the fact was the best.  You have to do what is best for the seller.

In my experience, if you give a deadline, make it four hours before you are going to meet the seller.  There is always a last minute offer.

Mar 14, 2018 08:20 AM
Rainmaker
556,558
Carla Freund
Keller Williams Preferred Realty - Apex, NC
Raleigh - Cary Triangle Real Estate 919-602-8489

You submit all offers to seller regardless of when they're submitted (after deadline, after under contract, etc.). I don't really have agents do that but, I'm sure it will happen at some point.

Mar 14, 2018 08:07 AM
Rainmaker
1,325,662
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Praful Thakkar This should all be sorted out with the seller prior to establishing a deadline. The seller should have the final say so.

Mar 14, 2018 06:40 AM
Rainmaker
2,637,403
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I would tell them to send it as i am meeting the seller at 2pm. I would not wait as you would never know if it may come or not. f i knew the agent and knew their was an offer, i would wait but not tell them i am waiting so they dont slow down

Mar 14, 2018 04:57 AM
Rainmaker
3,994,926
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Ask the selle

Mar 14, 2018 04:14 AM
Rainmaker
494,924
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

If there hasn't been an accepted offer yet, you must present.

Mar 14, 2018 01:18 AM
Rainmaker
35,656
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

The sellers call.

 

Mar 13, 2018 08:27 PM
Rainmaker
3,583,263
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Offers due at 1 so that they can be looked at and  ready for the 2  pm with the bseller...I tell the agent we are working on them.

Mar 13, 2018 04:45 PM
Rainmaker
665,949
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I'd wait, but would give a time limit.

Mar 13, 2018 02:51 PM
Rainmaker
652,958
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

How many times have I heard, "I will be sending an offer." And the seller is advised and no offer materializes. This creates a need for a lot of explaining on my part. (of course I''ll mumble nonsense like 'raise the bar!")

VERBAL ORDERS DON"T WORK.

Work the offers in hand. If seller accepts one in front of them the show is over.

Meanwhile, behind the curtain I will advise Susey come lately the show will be over in 30 mintues. You have 20 minutes to get the written offer in my hands.  Now, I may ask, what is your buyer intending to offer? A really good offer may compel an encore performance if their is merit.

 

Mar 13, 2018 02:11 PM
Rainmaker
92,779
sandy straley
Rindlesbach Homes - Salt Lake City, UT
Selling Homes for over 40 Years

If you have not decided on an offer. . . . have them send it over. . . . .may be the highest and best

Mar 13, 2018 02:08 PM
Rainmaker
1,346,308
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

That is not that close:) Also, if is it a good offer, i'd withdraw already prepared offers. I posted a blog about it. 

Mar 14, 2018 06:22 PM
Rainmaker
112,928
Erika Rae Albert, Austin Real Estate Expert
E*Rae Real Estate Group- Powered by eXp Realty LLC - Austin, TX
Exceeding Expectations in Every Transaction

I learned this lesson the hard way.  It's not fair to the buyers/agents who complied with the deadline to even consider the offer that's presented later.

Mar 14, 2018 07:55 AM