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Some Things Never Change ...Make The Offer

A similar post was written back in 2008 and is still relevant today.

 

Years ago, a buyer called to see one of my properties for the second time. When I told her the home went under contract a few days before, this buyer was surprised and even acted shocked. "I have been watching this listing for a long time, and I thought I had plenty of time!"  

 When you see a home that suits your needs, don't be afraid to make an offer. Since I make all my appointments, I know everyone who views my listings. Some buyers have been "trained" not to show interest, but this can backfire. If this buyer had shown any interest, she could have been encouraged to move forward, and I could have notified her that there was other interest in the property. It was the right place, the right price.

 

submit an offer

 

Agents, please encourage your buyers to make an offer. Are you worried about  "insulting" the other agent or the seller? 

Please, please insult away!  I have ratified many a contract where the sellers have previously said, "No way am I giving this house away." Some sellers may not want to take or even negotiate an offer lower than they anticipated, but you have to try. 

A contract is not an insult. It is a starting place for negotiation. It demonstrates that the buyer is interested enough to go through the process, have a qualifying letter, sign all the necessary papers, figure out dates for closing, home inspections, etc.

Agents ask

"Will the seller take $XX for the house?"

 

Sorry, this is not an offer, not a contract; it must be in writing.

They say

"I don't want to waste time by making an offer that will not work."

 

But until you put it in writing, we don't have anything to talk about, and we don't know what the terms are. 

With a written offer, a seasoned agent is worth their weight in gold. (Well, maybe just a full commission.)

Now you can prepare and present net sheets showing what the proceeds to the seller will be.

 

The first net sheet says  "In a perfect world" - this one has the full list price, 30-day cash settlement, and no contingencies.

 

The second net sheet says, "In the real world" - this is the actual offer in hand. This one includes a summary with price, date, contingencies, financing - in other words, the good and not so good points, but it is what we have.

You have two choices, accept or reject. A counter is a rejection and allows the buyer to walk.

More net sheets are examples of possible ways to negotiate. Sometimes this is price alone, and sometimes it the terms. It could be the date of possession or exclusions, but most times, it is a mixture of all these. 

Now you're ready to negotiate, but it can't start until someone makes an offer.

Buyers and agents, please do not worry about insulting us with an offer..just do it! 

Make me an offer!

 

Margaret Rome

 

 

 

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Comment balloon 26 commentsMargaret Rome, Baltimore Maryland • December 05 2019 12:44AM

Comments

Margaret:

There is plenty of wise advice here about offers - making them, or in some cases not doing so and then losing out. We see this often, don't we?

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) about 2 months ago

That's good advice, Margaret!  I hope you are enjoying this week!

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) about 2 months ago

Get off the fence and make that offer.  You never know when you may be the winner.  If not you still may have a chance for a counter.  It is better than not trying at all.

Posted by Rose Mary Justice, Synergy Realty Pros (Synergy Realty Pros) about 2 months ago

Such good advice, Margaret. We've all seen it time and time again--a buyer waits until the house is under contract then wishes they had made an offer. 

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 2 months ago

Morning Margaret.

Many people have lost that "perfect" home by sleeping on it.  I encourage anyone who sees that perfect home to make an offer.

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) about 2 months ago

Procrastination could work against anybody. And we just had our own dose of it. Excellent advice!

Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) about 2 months ago

Good morning, Margaret Rome, Baltimore Maryland the home will never be theirs unless they make that first offer....  and this is why only 10% of the agents do 90% of the business.... those are MY thoughts on percentages.... if everyone knew how to do this, ALL listing agents who be "rolling in dough!!"

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) about 2 months ago

Good morning Margaret. Seize the opportunity to make an offer before you hear "too late"! Enjoy your day.

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 2 months ago

Hello Margaret - true in 2008, true today and quite likely true in the future.  Act decisively in real estate and in life.  It's not a place for the timid.  Be prepared to move forward.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 2 months ago

Good morning Margaret Rome, Baltimore Maryland - that is so very well said.  You have to do the process make an offer!

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) about 2 months ago

After all of these years in real estate, the one I've never understood is the house that sits on the market for two months and then in one day gets three offers. The other agents and buyers don't believe you and someone ends up losing out. Good reminder!

Posted by Mimi Foster, Voted Colorado Springs Best Realtor (Falcon Property Solutions) about 2 months ago

Mimi Foster That happens with my unusual homes that have been on the market for a long time and then we wind up with several. And there is someone doubting you until they see it in pending status.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

“ A counter is a rejection....”
I love it!!!

Posted by Robert Hicks (United Country River City Realty) about 1 month ago

Robert Hicks How have you been?  Always good to see you.

Glad you like "A counter is a rejection." Don't you agree?

 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Good advice. Sometimes a listing can sit for a long time - then one person decides they want it and it's as if that idea floated out into the universe for others to catch. Suddenly, they have competition.

Posted by Marte Cliff, Your real estate writer (Marte Cliff Copywriting) about 1 month ago

Marte Cliff It is funny how that happens. Unexpected competition, that is sometimes not even believed.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Back when I was an agent there were no "hot markets" like we see now - at least not here. I was always reluctant to tell people there was another offer coming in because some didn't believe it - and others would say "Fine, then let them have it." On the other hand, if you didn't tell them and they lost out, they'd be angry.

Posted by Marte Cliff, Your real estate writer (Marte Cliff Copywriting) about 1 month ago

Hi Margaret,
This subject is timeless. Sadly some agents don't know how to deal tactfully with low offers.  It's not an insult. It's an offer... a starting point for negotiations. For them to allow their seller to think it's an insult is a crime.

And, the reverse of that is the buyer's agent who doesn't know how to tactfully submit low offers. Bashing the property is the worst thing to do... but that's a whole 'nother blog post, isn't it?

Posted by Carol Williams, Retired Agent / Broker / Property Manager (Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.) about 1 month ago

Marte Cliff So true. We have to weigh our words. And we have to know the personality of the other agent. Good agents can be upfront with. What I usually say: should we get an offer, would you like me to notify you? ( Of course, then it may be too late.)

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Carol Williams, You get a double like on this comment. 

You cannot insult me with an offer! And I won't allow my seller to be offended. The people who saw the house and did NOT make an offer; that was an insult!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Great advice that will never get old! If a buyer loves a home, they should make an offer. Right away. Offers which might seem insulting can often result in a sold house!

Posted by Kat Palmiotti, The House Kat (406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty) about 1 month ago

Good morning Margaret. You are so right about this: some things never change. The time to move forward is absolutely when you see it.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) about 1 month ago

Kat Palmiotti So true. They may also lose the house but they may be able to negotiate. 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Sheila Anderson Good to see you. Some things just never change.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Sometimes it's difficult for those first time buyers to pull the trigger -- esp if they expect their first home to have 99.9% of their wish list!  I actually had one buyer say to me "well I thought they would accept my offer because I'm a nice person, even though it wasn't list price"  (multiple offer situation).  Eyeroll!!

Posted by Mary Hutchison, SRES, ABR, Experienced Agent in Kansas City Metro area (Better Homes and Gardens Real Estate-Kansas City Homes) about 1 month ago

Mary Hutchison, SRES, ABR Wait a minute! She was a nice person and that wasn't enough of a reason?  They really wanted more money? Guess 'nice' didn't cut it.  

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

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