Home Buying in Louisville>Question Details

Matt Branch, Both Buyer and Seller in Los Angeles County, CA

A very confusing question??

Asked by Matt Branch, Los Angeles County, CA Sun Jan 23, 2011

If realtor A is selling a house for clients and realtor B shows his/her clients realtor A's clients' house but would also like to see others. Can realtor B ask realtor A to contact him/her if his/her clients were to receive an offer in case realtor B's clients also want to make an offer on that house????

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Answers

14
Absolutely....most agents would welcome the opportunity to have serious multiple interest in a property. On the other hand, it's not going to hurt seller "A" selling potential by sharing this information with future interested parties.

Bill
1 vote Thank Flag Link Mon Jan 24, 2011
I always tell the other realtor that my clients have interest in your home but are not ready to make a decision. Could you please let me know if someone else expresses significant interest. Most realtors are happy to do so.
1 vote Thank Flag Link Sun Jan 23, 2011
Matt,

I am not an attorney and this response should not be considered legal advice.

As was stated in another answer anyone can request anything. That said, KY state law requires any offer be presented to the seller without delay. So the listing agent's first response to receiving an offer should be to present the offer to his/her seller. For a listing agent to commit to notifying other agents in the event of receiving offers is at the very least risky on the agent's part. If you are the buyer, make the offer. If you aren't sure it is THE ONE, make the offer such at a price or on terms that would make it a no-brainer.

Hope that helps.

Kevin Griesser
Principal Broker
E3 Reatly LLC
502.664.9161
0 votes Thank Flag Link Mon Jan 24, 2011
Hi Matt
Your question is a bit confusing , if you want to know if a buyers agent can ask a listing agent to notify you if any offers come in on a property his clients have a slight interest in while they look at others most listing agents would be open to that as long as it is okay with the sellers.
0 votes Thank Flag Link Mon Jan 24, 2011
Yes. And it would be in the best interest of agents 'A's" clients to try to up the offer price from both parties.
0 votes Thank Flag Link Sun Jan 23, 2011
Matt,
It would be in the seller's best interest if their agent called all buyer's agents' parties that had some interest in the home to let them know they were getting an offer. It would possibly create a multiple offer situation, resulting in a bidding situation for a higher sales price.

However, the buyer's that wanted to keep looking for the perfect house stand an increased chance of losing the home they liked because they now have to compete with other buyers. So their chance of getting it for any kind of discount is pretty much gone.

Good luck.

Larry Gatti
Keller Williams Realty Louisville East
http://www.larrygatti.com
502-314-0907
0 votes Thank Flag Link Sun Jan 23, 2011
Yes. But the question is.... why would agent B wait to submit an offer for his/her client? If they were contacted about another offer being placed, they might assume with competition for the home... the price may rise. Why would they wait to compete?
Web Reference: http://youtu.be/y8my4xq_w90
0 votes Thank Flag Link Sun Jan 23, 2011
I'm going to be really honest and straight forward with you. If realtor "A" is a experienced I can almost guarantee that he or she will not notify realtor "B" of a first offer. Think about it, I'm sure realtor "A" will not want to jeopardize selling his or her own listing by bringing in another offer from another oustside agent, I mean agent "B". So if agent "B" is a smart agent he or she will close on the buyers immediately and put in an offer before agent "A" puts in one first.

Real estate is not for the timid or weak, you have to close the deal when the opportunity strikes or you miss out big time.
Web Reference: http://www.RhondaHolt.com
0 votes Thank Flag Link Sun Jan 23, 2011
Simple answer...yes, you can ask realtor A can ask realtor B to stay in contact regarding any other interest in that property.
0 votes Thank Flag Link Sun Jan 23, 2011
Dear Matt --

Yes, such a request can be made -- and frequently is. Very important for Buyers and for Buyers' agents to understand, though, is that a request from one agent to another is just that -- a request, with zero legal weight, nor the assurance that such notice will occur. If you are the Buyer, you will want to ask your agent to be proactive by staying in regular contact with the listing agent in such a case. Ultimately, really, the only assurance that a Buyer will have an opportunity to pursue a particular home is to prepare and submit an offer BEFORE a competing buyer pops into the picture -- which can happen at any moment. We hope this helps you. Best wishes in your real estate endeavors...

Syndi Chesser, 100% Club, Broker Associate, Builder
Senior Partner - Chesser Meade Group
Accredited Buyer Representative (ABR)
Certified Distressed Property Expert (CDPE)
RE/MAX Associates of Louisville (Kentucky)
O/C: 502.222.9167
Fax: 502.222.9030
Email: ChesserMeadeGrp@aol.com
Web: http://www.ChesserMeadeGroup.com
Web Reference: http://www.VIPBuyerKY.com
0 votes Thank Flag Link Sun Jan 23, 2011
Yes.

Realtor B can tell Realtor A that his clients have some interest, and to please keep us in the loop, in case you get any other interest or offers.

Realtor B is by no means obligated to do so, but it may be in his clients best interests to make sure that everyone interested in the property knows what's going on.
0 votes Thank Flag Link Sun Jan 23, 2011
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Yes, this is not an unusual request. It may be that both Realtor B's clients would make an offer and Realtor A's clients would have multiple offers which may drive the price up.
0 votes Thank Flag Link Sun Jan 23, 2011
Yes, I have to admit it took me a couple of times but if I am getting this right, you are asking if the buyer's agent can ask the listing agent if they receive any offers, because the buyer's agent's buyers may be interested in making an offer.

I understand the question but I am not sure I understand the point.

Buyer's agent can ask. Listing agent should follow the instructions of the sellers and the buyers should just make an offer if they are interested. Usually, if buyers make an offer or are indicating that they might, the listing agent is happy to tell them that there are other offers on the table because it makes it a competitive situation.

Am I missing something?
0 votes Thank Flag Link Sun Jan 23, 2011
odd, but yes, a realtor could ask thier "competition"/the other realtor to contact thier cleints. Simpler way would be for the realtors to talk to eachother in the event an offer came in on house the clients liked. We are progessionals we should atleast be expected to communicated for everyone's best interest.

Good luck.
0 votes Thank Flag Link Sun Jan 23, 2011
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