Question Details

Bev West, Real Estate Pro in 80634

How quickly after you have an accepted offer do you notify the other selling agents that their offer was not accepted?

Asked by Bev West, 80634 Fri Jun 13, 2014

I find it a little unprofessional when you and your buyer are waiting past the deadline time only to find out that another offer was accepted and the agent never calls until one day later. What are your thoughts?

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Answers

9
After I have all the necessary signatures on the accepted offer, I immediately let the other agents know their offers were not accepted.
0 votes Thank Flag Link Sun Jun 29, 2014
I'm with John - I don't notify the agents whose buyer's offer wasn't accepted until everything is signed. That seems to be a common practice in my experience. In fact, I tell buyers that if too much time elapses it's a good sign that their offer wasn't chosen.
0 votes Thank Flag Link Sun Jun 29, 2014
I prefer to call agents back after I have the necessary signatures, but if there is a delay in meeting with the seller I will call the other agents and let them know that we've got a verbal acceptance on someone else's offer but that I have yet to secure the final signatures. I'll ask if they want me to call them back if something comes up before the signatures are affixed and the home becomes available again. If they say yet, I make a note of it - just in case the seller reconsiders their verbal acceptance for whatever reason.
Web Reference: http://briankurtz.com/
0 votes Thank Flag Link Sun Jun 15, 2014
If by accepted, you mean fully executed, the agent representing the buyer(s) whose offer was not accepted is owed a call right away. It's a good idea to follow up in writing for record keeping purposes.
0 votes Thank Flag Link Sat Jun 14, 2014
My thoughts are that communication is within reason. Buyer's agents complaint all the time about not receiving showing instructions, not knowing the result of a multiple offer situation, not getting a response to a question WITHIN 15 MINUTES. I sometimes answer a phone call after so many calls from the same number just to tell the agent to please follow the instructions on MLS. Five minutes later I receive a call from the same agent to find out when am I going to reply to his/her email. Seriously? I find that 24 hours is reasonable time to reply to any inquiry including responding to a multiple offer situation. We are not selling Happy Meals!
0 votes Thank Flag Link Sat Jun 14, 2014
I prefer not to notify anyone who submitted an offer (winner or loser) until I have an EXECUTED contract in-hand. I don't know if you mean "accepted" to be the same as "executed" (which I think most of us consider the same thing), but I've seen several offers verbally "accepted" by a seller, then when the seller is asked to actually sign the offer they reconsider and decide to counter the offer or reconsider others. Once I have a signature, I'll notify everyone who submitted an offer within a few minutes.
0 votes Thank Flag Link Sat Jun 14, 2014
I do this as well.
Flag Sun Jun 15, 2014
I think you are right that it is "unprofessional" to wait before calling unsuccessful bidders to let them know the outcome. This can be a tough market for buyers and there is no reason to leave them hanging while they might be missing another opportunity.

Best,
Ron
0 votes Thank Flag Link Fri Jun 13, 2014
As soon as the decision is made, it is common courtesy for the listing agent to contact the other agents whose offers have not been accepted, to thank them and to let them know that should the chosen one not move forward in an appropriate manner, they will be notified.
0 votes Thank Flag Link Fri Jun 13, 2014
I agree with you, as a professional courtesy phone calls should be made to all agents who submitted offers to notify them of status as soon as a decision has been reached.
0 votes Thank Flag Link Fri Jun 13, 2014
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