Posted by RC on March 13, 2002 at 18:45:34:
Or if you do not have a buyer borker agreement with the agent he/she does not have to present - the listing agent MUST present all offers with or without an agreement with purchaser (assuming they are not excluded by seller as in previous posts)
Why Won’t Realtor Submit My Offer - Posted by Jill
Posted by Jill on March 12, 2002 at 18:14:31:
It’s me again. I reviewed the two houses that I wrote about earlier under the message “Need Advice On What To Offer.” I offered the realtor $5,000.00 on the second house and he about had a cow; yet, at the same time he was on the phone with another realtor telling him that the house has not been winterized therefore heat, hot water heater, and plumbing would need replaced. He told me that I over estimated the cost of repairs because I estimated repairs at $25,000. I then ask him what the lowest offer was on the house and he stated $10,000.00 but it was refused. Well the way I see it it’s two months later and the bank may accept yet he did not agree to write up my offer. This is my first deal I’m trying to do and I don’t understand why he would not write up my offer. What am I missing? Also, would like to add that the bank just lowered the offer today to 19,900 from 21,900. Okay what am I doing wrong. I finally got up enough nerve to make an offer but some will, some won’t, so what.
Here’s the deal. - Posted by Redline
Posted by Redline on March 13, 2002 at 12:21:55:
Realtors are only required to submit offers that are IN WRITING! (Unless told specifically otherwise by the seller IN WRITING).
Your offer was verbal, so he doesn’t have to submit it (although he should). You don’t ask the realtor to write it up, YOU get a contract and fill it out and fax it in! THEN you can insist that the offer by presented.
And the bottom line is, you’ll never know if it was or not. There are lots of times that offers are shopped and never submitted, such is the nature of the business.
Sounds like the realtor knows you’re a beginner and is making things tough on you.
Show him you know a little something by being professional and writing your offer up in contract form.
My 2 cents.
RL
Re: Why Won’t Realtor Submit My Offer - Posted by terry
Posted by terry on March 13, 2002 at 08:42:08:
correct me if i’m wrong, but:
i believe agents are contractually required to present all offers to their client (i.e., the seller). it is the seller’s decision whether to accept obviously but i don’t believe agents are allowed to simply ignore a written offer.
this is what an agent friend of mine tells me at least. is this the case? can anyone confirm?
Re: Why Won’t Realtor Submit My Offer - Posted by Jill
Posted by Jill on March 12, 2002 at 19:56:34:
Thanks to all that responded to my message!!!
Re: Why Won’t Realtor Submit My Offer - Posted by GL(ON)
Posted by GL(ON) on March 12, 2002 at 19:48:47:
He is being a jerk. All RE agents are like that, they think they know it all.
Tell him you have looked the property over carefully. Tell him what all is wrong with it (you should make a written list when you look through the place. Put down everything it needs). Tell him you are an investor, and you need to buy at a wholesale price if you are to make a living. How can he object to you making a living?
Then tell him to write up the offer and don’t let him talk you into anything. If he says they won’t accept it say fine, you submit it and if they don’t accept it you will go on to the next deal. Don’t suggest you will go higher or he will use it against you.
Re: Why Won’t Realtor Submit My Offer - Posted by RC
Posted by RC on March 12, 2002 at 18:35:36:
If you’re agent will not present the offer then you should find another agent. You may want to take your offer directly to the listing agent who is obligated by law to present all offers to the seller unless the seller has set guidelines that would exclude your offer i.e. “no offers less than 20k” You may also want to reserve the right to be present when the offer is presented so that you may defend your position. Good luck
Re: Why Won’t Realtor Submit My Offer - Posted by Nate(DC)
Posted by Nate(DC) on March 13, 2002 at 10:35:01:
See my post below. The seller CAN pre-reject certain offers and the listing agent does not have to present them.
NT
Objections to your comments - Posted by Michigan Andy
Posted by Michigan Andy on March 12, 2002 at 20:18:37:
GL-
Although I have never had a desire to become an RE agent myself (way too much work), I take exception to your comment about all agents being know-it-all jerks.
I am not an expert in RE investing, but not a novice, either. When I need advice about buying or selling, my agent is ALWAYS there for me. I tell her exactly what I’m looking for, and she busts her A** finding it for me. When I have a question that she does not know the answer to, she tells me so, and then finds the answer. Despite the fact that she is a “competing” investor, she always presents deals to me first when she knows I’m in the market for something (even though I kid her about “stealing” deals from me). She is thorough, extremely ethical, and keeps me appraised of every deal that I have pending, from start to finish. Although she has made money from deals I have closed through her, she has gone well beyond what I perceive to be expected of a “typical” agent, for the money she has made from my dealings.
I have, in my infantile RE experience, run into very lazy and sometimes arrogant agents. I have also run into several whom I consider to be part of a local “good old boy” network (the very reason I left state government employment). Your assertion, however, that all agents are know-it-all jerks is just as fair as stating that all RE investors are sleazebags. There are some in my area whom I never want to be mentioned in the same sentence with, but that doesn’t mean that I’m one of them. You wave a broad wand when you made the comment that you did, and I respectfully request you reconsider it. I welcome your comments.
Andy
P.S. - Don’t let your head swell, Jill. See ya in Hotlanta!
Re: Why Won’t Realtor Submit My Offer - Posted by Nate(DC)
Posted by Nate(DC) on March 13, 2002 at 10:32:49:
If the seller is a bank, they are most likely out of state and there will not be an “in person” presentation. So requesting that you be there when the offer is presented might be useless. The listing agent might present the offer by fax. Or FedEx.
In addition, it sounds to me like the client may have said “no offers below $X” in this case. Especially if they already rejected a higher offer.
NT
Re: Why Won’t Realtor Submit My Offer - Posted by Mary
Posted by Mary on March 12, 2002 at 19:00:05:
Is only the Listing Agent required to present all offers? I thought all agents had to present all offers.
Re: Objections to your comments - Posted by GL(ON)
Posted by GL(ON) on March 13, 2002 at 24:55:57:
I wouldn’t say all RE agents are jerks, just all the ones I have ever met.All they want to do is prove what big jerks they are by objecting to everything and telling you it can’t be done, meanwhile I am going out and doing it.
I did have one good one. She was so scatterbrained she never objected or tried to talk me out of anything. She just smiled and went along with whatever I said. The downside was I could never ask her anything, she never knew anything and if she tried to look it up she would forget before she set the phone down. She was hard to get, she made so much money she took at least 2 long vacations a year. Expensive trips to places like Ireland and New Zealand that took 5 or 6 weeks.
She quit a year ago to open a tea room. I miss her.
P.S.- Jill I mentioned is not original poster - Posted by Michigan Andy
Posted by Michigan Andy on March 12, 2002 at 20:21:31:
Sorry for the confusion.
Re: Why Won’t Realtor Submit My Offer - Posted by Nate(DC)
Posted by Nate(DC) on March 13, 2002 at 10:34:17:
All agents must present all offers EXCEPT if the seller has explicitly told the listing agent not to present certain types of offers.
For example, if the seller decided that the list price was as low as they could go, they could instruct the listing agent not to present offers below list price. Then the agent would not be obligated to present lower offers, and in fact would be obligated to follow the client’s instructions and reject those offers.
NT