One thing that we are finding more and more of is listing agents who choose to hold properties until they can find a buyer on their own so they can double end the deal and get the total commission paid by the seller. This is illegal but it happens everyday and it is very hard to regulate what goes on as far as pocket listings and double ending goes.

I hope your agent wrote a nice cover letter to accompany your offer to put a human element into the offer. I find that a nice letter detailing the buyers and their families helps listing agents remember the buyers and it sometimes helps the deal get done.

Good luck to you!

Hi, Eric
Have your agent call the listing agent. You can have your agent set up a meeting with the listing agent and his clients', and negotiate in person.

Keep us posted on your offer, give us the good news when they accept your offer.

Best Wishes,

Jes Sierra, B.Sc.
Realtor®
Chino Hills, Ca

I would caution you to manage your anxiousness vs. being too "persistent" which may lower your chance of being one of the offers to be considered by the owners....remember, the owners are ill. How would you feel if you were the sick owner and either the buyer or the listing agent being "persistent" for your decision?

Now, based on your facts, you have answered your own question. First, the listing has recieved multiple offers in a short period time means the list price is more than likely listed "below" the average recent closed sales. Do you know the CMA stats for the subject property? This is a strategy listing agents use to sell quickly via generate multiple offers and/or create a price bidding environment among the buyers. Second, the listing agent needs time to compile a detail list of the offers received, then schedule a meeting with owners to present the offers so the owners can choose the offer that best fit their needs. Hence, all buyers wait until Friday...or, may be Friday is the best date the listing agent could schedule a meeting because the owners are ill.

Additionally, you should know that in a written contract, there's a start and end date. So if you've placed a 3-day deadline, and the owners have not responed, then technically - according to contract laws, they have chosen not to accept your offer. The CAR standard real estate contract uses a 3 business days deadline, however, agents usually communicate with each other to determine an ample respond by date for both buyer and owners to respond...this is the date you should use to set the deadline.

In the mean time, re-access your submitted offer and be ready for a counter offer ... just incase the owners may ask for highest and best offers on Friday ... this is another round of price bidding to get the highest or cleanest offer. You don't have to increase your offer price, but you may want to shortened the inspection period ... discuss with your agent for other ideas to make your offer more attractive.

If you are a first time home buyer and you want to take advantage of the $8K tax credit, I would recommend you to continue looking at other properties until you have an accepted offer in hand and escrow is opened.

I hope the information helps you.

Get your agent to keep calling or emailing or texting the listing agent until you get a response. You just have to be persistent!

Even if your offer was not the highest or not the best (someone else may have submitted at $400k all cash close in a week offer) The listing agent should still & is responsible to let you know.

emilyknell1@yahoo.com