Some realtors not ALL,are reponsibles and care about their clients ,REAL ESTATE COMISSIONERS wont reinforce better rules to make sure agents hold properties that are (good deals) for themselfs or their "investors"
Sometimes their broker of record could care less as long as the agent brings home the comission.
I will request a copy of not just a fax ,a copy of a reject of letter of ackwolegent to make sure the bank/seller got the offer.
If you think your offer was not treated correctly,dont bother with the REC(Real Estate Commision)file a civil claim and you will get quicker and more honest response..................
If you remain unconvinced, you should simply request your Realtor provide you evidence that the offer was made either by printing off a copy of a sent email, or if was an online offering system these generate acknowledgment receipts that are sent by email to the submitting agent and they could provide you a copy of this.
Bear in mind, you're essentially telling your Realtor that you don't trust them to do their job, if this is true and you don't care what they think then by all means go ahead, otherwise you may wish to re-think why it is your feel the way you do.
Good luck and i hope things work out well for you.
Why are you already questioning your realtor?
Get another one if you don't trust their competence or if they have your best interests at heart.
Why wouldn't they submit your offer unless you think they have a family member or friend looking to jump to the front of the line. They only get paid on a sale.
I find this question very interesting for many reasons. First of all you refer to "my REALTOR" which should indicate that you are working with an agent under an Exclusive Buyer's Agreement, or at the very least a buyer's agent within the guidelines of your state's agency disclosure laws. So, if in fact it is your REALTOR submitting the bid I would see no reason not to expect that your offer would have been submited by him or her to the listing agent. If you wrote an offer that is so low that it would be embarassing to submit, that's too bad - by law, as others have stated - all offers have to be submitted. But your REALTOR typically doesn't receive compensation unless and until you have offered on and closed on a property, so they would be working against themselves to withold your offer no matter what the price and terms. And a buyer and seller cannot ever come to a 'meeting of the minds' if an offer doesn't come first. So let's assume your REALTOR presented the offer to the listing agent.
OK, now for the listing agent - again by law all offers have to be submitted, a listing agent would have to be crazy to withold an offer - too many things can come around to bite them in the butt if they do that. What if the offer that was presented fell apart and the agent had to go back and ask your REALTOR if you were interested in resubmitting your offer? What if the offers had extremely different timeframes as to life of the offer. Most people assume if a seller accepts or counters an offer then the other offers are no longer valid. That is not necessarily true. If your offer was only valid for 4 hours and the other for 24, the seller would be free to negotiate with you to try to come to an agreement and the other offer would still be valid until the life of the offer ran out. If they could not come to an agreement with you, then they would be free to begin negotiations with the second buyer as long as they were within the time frame. Lack of a response does not necessarily mean rejection. Then there is the "it's a small world" situation. You told a friend who told a friend who told a fiend that was the seller that you submitted a bid on their house and they never saw it!! Offers on foreclosures are handled differently as other answers have indicated.
Llisting agents that push their own offer that is not really the best offer for their client, the seller, are treading on thin ice. One sale does not make a career, but it could sure end one!
If you are in doubt always ask your friends for referrals. Believe me, if they hated their agent they'll let you know.
Having said that, here is a tool that works well and will give you the peace of mind that your offer has been submitted by the agent AND importantly received/seen by the seller. There is a follow up concern at times of whether the offer is making its way to the seller. Incidentally, by law all written offers must be presented.
The tool is....simply include an addendum to your offer that summarizes its terms and asks for the sellers signature to acknowledge his/her receipt - and ask that the signed acknowledgement be returned to you.
Works like a charm....
Unwavering Commitment to Service
Buying real estate is a large and inportant purchace, you need to find a Realtor you TRUST!! if you feel like a number of a sale and not an inportant person in your realtors life it is time to move on.
Finding the right Realtor is as inportant as finding the right home because it should be a lifetime relationship.
"FYI... Its more work but always use the Listing agent to show you the house, or at least someone from his office. Lets be frank if two people put in the same offer which one will the listing agent push, the inhouse deal or the guy down the street. If you have 10 house then you have 10 different agent showing you thier properties. It just a money thing 1.5% is less then 3% commission, and that way they dont have to split with the competition."
First of all, if this is how Nelson inpterprets the way Realtors in NJ in his area handle their business, then I would suggest that you avoid that particular grouping of people and find some honest Realtors and mortgage people in the area. There is nothing "frank" about what Nelson has stated... Realtors do not work in the manner as this mortgage person describes, maybe HE would do business as such, but I do not know one Realtor that would risk their license to take the business of one deal and break the law in the process.
The fact that this person is suggesting that this is how he views the business of Reeal Estate would tell you to avoid anything to do with him, because you don't know what he will do in his business to make a buck.
I'm sure your bosses would be thrilled with your post... and I am sure that any Realtors around you cringed at reading it.
What would lead you to believe that the Realtor did not put the offer in? Did they write it? Sign it? Do you supply all the necessary documents?
Did you ask the Realtor to â€œjust make a verbal offerâ€? If so, that usually does not fly.. If you made a serious offer and wrote it down, gave your $1000 good faith deposit along with your mortgage pre approval.. What would be the reason to believe the Realtor did not submit the offer?
What is your situation, was all done as stated above? You still have doubts? Is this a short sale? Foreclosure or just an offer on a property.
Before we all judge the agent about your relationship and trust with that agent.. more information is needed regarding the actual offer and how it was actually prepared.
First off you should trust the agent you are working with.. The best way to protect your interest in a transaction is to have your own Buyer's agent that you trust represent you in the purchase...
If you want to feel comfortable that your offer is being submitted then request your anget to cc you on the submission of the offer.
Keep in mind that we don't get paid by not sending in offers.
1. If you are working with the listing agent and she/he dose not have any other offers the chances are good that you offer was submitted. Most listing agents like to double end deals and will fight to see that the offer where they represent both sides is the one the seller--sees & accepts.
2. If you have an agent that is not the listing agent it can be a big question mark--because when there are 10 offers presented on a property unless the agent you are working with inserted in the contract a request for a formal rejection where the seller officially reject's the offer it can be dicey -- many agents often wonder if the offer they wrote has been presented. So you are not alone.
To safe guard your interest I would recommend that you have the agent that you are working with insert into the real estate contract in writing and not just check a box etc, that you wish to see the seller formally rejects your offer in writing and its best if you state a time period. IE: within 24 hours.
There is something called Faith in mankind or why work with a Realtor
you cant trust. Now you can ask for Seller rejection signature.
Writing offers with any Realtor that you find on the street makes no sense.
Qualify the Realtor, see if you can trust the person, understand the market
or you will be a statistic like the millions and foreclose.
it concerns me that you don't have confidence in your real estate agent, which is rule number one in deciding on a buyer's agent. You may want to get references from them to build confidence. The best way to learn if the bid was submitted is to simple ask for a copy of the bid. Not only will you have confirmation, but you will also have verification as to what was actually submitted. Good luck!
I do agree with the other people in that you really should be able to trust that your agent is doing as you direct him/her to do!
Wish you the best!