Friday, May 10, 2013

Please present my offer

Would You Please Just Present My OfferLike every profession, real estate agents come with a variety of skill sets. And just like other professions, some real estate agents are better than others.

Always Be Professional

When we have an opportunity to work with a less than stellar agent it can be extremely frustrating, but just like working with a difficult client, we need to be the ones who remain professional in order to get the job done for our clients. This particular case involved a listing agent who decided she was the spokesperson for the seller. Instead of taking the offer to the seller immediately, she had a list of comments/questions/concerns to tell the agent.
  • "This is a horrible offer".
  • "The seller will never accept this offer".
  • "This house isn't the right fit for your buyers".
  • "Your clients didn't state how much money they make".
  • "The seller would never accept this low earnest money deposit".
  • "Who is this lender, I've never heard of him".
  • "Why do they want an inspection? The house has already been inspected by the county".
I can't make this up! All of this was before she even spoke with the seller. Even though the offer was accompanied by a Financial Information Sheet which clearly showed each of the buyer's income, the agent didn't believe it after it was pointed out. As for the lender, he has been in the business for over 15 years. What I couldn't understand is why the agent didn't simply take the offer, say "thank you" and then speak with her seller about the offer.

Before You Present The Offer

As the listing agent our job is to get the property sold, not to be a barrier. Before going to the seller with an offer we check to make sure that all of the required documents are there, including a Financial Information Sheet and a pre-approval letter. In most cases, we call the lender to ensure that they have actually reviewed buyer's documentation before issuing the letter. But our job is not to rip the buyer agent apart...ever.

Lessons Learned

When all was said and done, the buyers and the seller came to a meeting of the minds after only one round of negotiations. Needless to say, the listing agent had egg all over her face. But as a listing agent, there are a few things to keep in mind. The first thing to remember is this, when you receive an offer be gracious and at the minimum say "thank you"...I don't care what the offer looks like. Lesson number two, even if a seller tells you they won't accept an offer below "x", present the offer in hand and see what happens. People change their minds everyday.
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