Home Buying in 53597>Question Details

Dan, Home Buyer in Crivitz, WI

Recently, before making an offer, I asked my realtor not to tell the listing agent that I was interested until I had the offer signed and submitted.

Asked by Dan, Crivitz, WI Fri Jan 24, 2014

I had hoped to make an offer an eliminate competitive offers and the ensuing bid war by writing in a two hour window to accept or reject the offer. This way there is not time for the listing agent to call all interested parties and get competing bids in. My realtor did not follow my request. any comments on what is happening here (incidentally she declined to become my buyer's agent two days earlier saying she like the arrangement fine).

Help the community by answering this question:


Before you feel yourself "wronged," please consider the Seller's agent may have contacted your agent asking if he or she would be submitting an offer. I do this to ensure my Sellers receive as many offers as possible during a specific time frame so they can make their best possible selling decision.
While I understand your strategy of a two-hour window of acceptance is/was designed to prevent multiple bids and an ensuing bidding war - you are/were if fact setting yourself up to fail. People don't like being "strong armed" and many will automatically reject, unless (of course) your offer contains the sun, the moon and the stars...all the stars, every single one. Good luck to you!
2 votes Thank Flag Link Fri Jan 24, 2014
I was told by my realtor that banks are cold and impersonal. I was not be expect to treated like a person but a number. Everyone who makes an offer believe they are giving the sun, moon and stars. On Trulia and Zillow, one strategy given is just this, make a best offer, give a time limit for acceptance and this can eliminate multiple offers. Made sense to me. If people don't like strong armed they can so no. Simple as that. the more important issue if "why did my realtor let the listing agent know of my intentions before I made the offer, since I had asked her not to?" I wanted my wife to see the property and then we could proceed with an offer. To spread the news that I was interested and planning to make an offer only hurts me. It helps everyone else but it hurts me regardless of my plan to manage the time for acceptance of the offer. So the question is, should she have listened to me and respected my request... this is the question. She lost the sale, I lost the house.
Flag Mon Jan 27, 2014
It doesn't do that, Dan. All it means is that you will only be held to the terms and conditions for two hours, and most listing agents - and sellers - are willing to let you go under those terms.

But I'm wondering - did you sign an offer with a two hour window, or not? If not . . .
1 vote Thank Flag Link Fri Jan 24, 2014
Two posts in one day. Earlier you were wondering if the Listing Agent was acting illegally or unethically because they suggested you write your offer higher. Suddenly, you have a sub-Agent (NOT a Buyers Agent) and you are not happy that they tipped off the Listing Agent about your intent to write an offer.

All this because you think that for some reason, your (low) offer with a 2-hour binding acceptance is going to get the Seller so excited that they will just sign it on the spot.

The Seller is every bit as excited about the prospect of a bidding war as you are worried. Unless they are living in a cave, they know there is a shortage of inventory, that rates are low, that Spring is right around the corner. They know EXACTLY how many showings they have had this week. But most importantly: they have been out looking for their NEW HOUSE and they know how hard it is to buy.

So, this well-informed Seller is supposed to just pounce on your lowball offer like it is the only one in town? Maybe, just maybe, your agent was letting the Seller know that another offer was coming and that for yours to even be considered the Seller should wait.
1 vote Thank Flag Link Fri Jan 24, 2014
i never said i was submitting a low ball offer... in either of my emails. You assume to much. In the first case I was told not to offer less than 10k below asking. I did not say I was going to do this. Then as I came closer to making an offer, on a separate house, I had hoped to make an offer and close the deal with an exceptional offer in hours, not days to eliminate any bidding war.
Your pretty rude Bill.
Flag Mon Jan 27, 2014
In Wisconsin, regardless of which party the agent represents, they are required to keep confidentiality of all parties. If you specifically told the agent not to convey that you had interest in the property then the agent is bound by those instructions . Whether your strategy to avoid competitive offers would have worked or not, (you would be surprised how fast we can get those competing bids in - LOL) it was your right to have those wishes respected. I hope everything worked out and you were able to get the property you wanted.

Just another comment on multiple offers. I noted a comment from an agent in Georgia about the rules in her state requiring highest and best. That is not a law in Wisconsin (or even a usual way of doing offers in my area) . The Seller can accept, reject, or counter any offer in any manner they choose, no matter the order it was received or the quality of the offer. They can respond to one, some or all of the offers received at their choice. A Seller does not need to respond to, or act on, any offer for any reason as long as they are not discriminating. Asking for highest and best might be a valid option to get all buyers to come up to their top dollar. However, I do not want a buyer to think they will get a second chance if their offer isn't the best because a lot of times that will not be what happen !!!
1 vote Thank Flag Link Fri Jan 24, 2014
You may have answered your question. By declining to be your agent, the Realtor was either a dual agent or a seller's agent which changes their primary responsibility. The Realtor's fiduciary and ethical responsibility was either to you both equally or to the seller only. The Realtor's Code of Ethics and state license laws address this very specifically. The Realtor must act in accordance with terms of the agency that has been established (either by actions or contract). Only a Buyers Agent could have fully complied with your wishes.
0 votes Thank Flag Link Fri May 9, 2014
Again, I'm thinking your agent was caught off guard. No agent would seek to sabotage their client's offer. It just doesn't make sense. The fact you know this even happened suggests your agent was trying to do the right thing. Certainly the information regarding how banks treat Buyers is 100% correct.---------While I obviously participate on Trulia and have seen Zillow, I can tell you the strategies presented for buying and selling don't work in all markets and circumstances of sale - if they work at all. To that end, your agent should advise you on the best course of action with all things considered.-----------Kept their mouth shut? In a perfect world. But it isn't. And we aren't.-----------Leave your bad feelings here with us. Sometimes things just aren't meant to be. The house you wanted wasn't for you, but there is one with your name on it!------Wishing you success!
0 votes Thank Flag Link Tue Jan 28, 2014
oh, I have no bad feelings. The question is really did she do the right thing? To whom is she obligated.
thanks though
Flag Tue Jan 28, 2014
I'm not sure I'm understand your question. You are upset because your agent didn't submit your offer/bid in this fashion and feel that because of that you missed out on this deal? If that is the case you both are right. You as the client should have their offer submitted in the fashion that you see best fit, if your agent did not do it that way (which seems to be the case) then, yes they are at fault. However, if you were waiting to sign the document last minute because you felt that your chance of having it accepted would increase, then you are wrong. All listing agents are required to review all offers submitted on a property and have their client review them. From there (in the case of multiple offers) the client has the option to direct their agent to accept an offer that they best see fit (generally as cash offer) or return a highest and best form to all agents that had submitted and offer. From the situation outlined above, it sounds like the client of the listing agent saw a high offer and decided to go directly with it. One last thing, unless you as a buyers agent's client sign off on an offer, there is no way for it to go under contract. In truth no agent should send an offer to a listing agent without the signed signature of their client. I'm sorry to hear that this happened, but I hope I have helped to answer any concerns you had with it.
0 votes Thank Flag Link Fri Jan 24, 2014
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