Home Buying in Akron>Question Details

Cindy, Home Buyer in Cuyahoga Falls, OH

when you make an offer is your agent suppose to present the offer to the people with their agent?

Asked by Cindy, Cuyahoga Falls, OH Tue Jun 10, 2008

in person.

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Cindy, you can definitely write a letter, to be presented along with your offer, directed at the sellers. Sometimes, in situations of multiple offers, those letters can be enough to tip the balance in your direction.

I would avoid letters stating the reasons why you "don't think their home is worth what they're asking"... but include comments about how "you love their home, it's clear they've enjoyed the home, raised their kids, and you hope to do the same"... (you get the idea).

Those letters won't be enough, without a solid offer behind it... but if the offer is marginal, it could be enough to tug on their heartstrings, and bring the house your way.
0 votes Thank Flag Link Wed Jun 11, 2008
Alan May, Real Estate Pro in 60201
MVP'08
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frank...........are you saying i can write the people a letter about their house and why i want it with my offer?
0 votes Thank Flag Link Tue Jun 10, 2008
Cindy

Presentation of the offer differs in each state In North Florida it is customary for the listing agent to present all offers to the owner. The selling agent presents the Buyer's offer to the listing agent and negotiates with the listing agent on behalf of the Buyer.
Web Reference: http://www.cathysloan.com
0 votes Thank Flag Link Tue Jun 10, 2008
Cindy...

Although it's not a common practice, your offer could be sought to be presented in person. Sometimes though the Seller's Agent or the Seller turns down that request. Like stated in answers prior to mine, more often than not in today's practices it is typically conveyed electronically (either via fax or email).

Good luck in your purchase!
Web Reference: http://www.ArtHotes.com
0 votes Thank Flag Link Tue Jun 10, 2008
The short answer is no. It is at least not customary where I operate.

In the past, yes, when an agent serving the buyers (a customer) was a sub agent for the seller. It helped in two ways, the revelations about the buyer could help the seller get top dollar, and unreasonable sellers could be more easily convinced that they were asking too much. It led to too many legal problems related to implied agency though.

In a buyer's agency arrangement, a buyer's agent would certainly like to be in on the presentation to the seller, but the seller's agent would not be so pleased. A listing agent needs to talk candidly about the merits of the offer and talk over strategy with the seller. It would make no sense to do so in the presence of the buyer's agent. If a buyer's agent requested that they be allowed to sit in on the presentation, I would advise my client to deny the agent the privilege.

There is some temptation to do the opposite, to allow the buyer's agent to sit in and make the initial presentation, and use every clue gained from the agent's presentation to beat up on his/her client. Once the agent left, the sellers and I could sit down to plot our strategy. The negotiation process is however more likely to become adversarial if done this way, and it's hard enough to keep a client objective.
0 votes Thank Flag Link Tue Jun 10, 2008
Certainly presenting the offer "in person" is the optimal way to present an offer. That way you can get your buyer's entire message across the Mr. & Mrs. Seller, and make sure they heard all the pertinent information, and have any questions they might have about your offer answered.

Unfortunately, as Mary Starkey points out, in today's fast-paced world, in-person presentations of offers are becoming more and more rare. Often, the seller does not want to be bothered by the buyer's agent. They don't want to be "sold" the contract, rather they'd like to sit with their own agent and discuss the offer in private.

Sometimes it's simply because of scheduling. With a purchase offer, time is of the essence, and often the fastest way to schedule an offer presentation is via phone, sometimes a conference call. Often the listing agent can't even manage a face-to-face with their client, and they'll present the offer via telephone, occasionally with one partner at work, and the other at home.

I, too, have found that more and more of my offers are presented via telephone, rather than in person, and rarely is the buyer's agent present. The optimal system?... no. But expedient, and functional.
0 votes Thank Flag Link Tue Jun 10, 2008
Alan May, Real Estate Pro in 60201
MVP'08
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Cindy, most offers presented today are by agent to agent. Then the agent presents the offer to the seller and, I have found , usually by phone. I think people are so busy today, that agent to agent presentation of the offer has become the norm in the part of Ohio in which I do business. Only if a request is made by either of the clients do the agents present the offer to the seller in person.
Web Reference: http://www.marystarkey.com
0 votes Thank Flag Link Tue Jun 10, 2008
Hi Cindy, Yes you are right. Your agent should present the offer to the seller and their agent at the same time. Either in person which is the best way, or on a three way conversation. The seller hired a realtor for this purpose. However, sometimes sellers do not want to be bothered and want their agent to handle all the offers because they are just too busy. If this is a concern of yours, discuss it with your realtor. Every situation is different, but I'm sure that your realtor wants to be sure that the seller hears your offer as well.

Rosemarie Rivicci
Appleseed Realty,GMAC Real Estate
917-846-5795
homesbyrosemarie@aol.com
0 votes Thank Flag Link Tue Jun 10, 2008
Depends on a situation. It all can be arranged. However, some sellers don't have time and aren't available. They focus on the offer's deal.
Your agent must clearly communicate the situation with you and the convenience for both parties. Many deals are done face to face. However, thousands are done without it. Each situation is different.
Recently, I worked with a buyer who purchased a duplex. We neverr had a chance to meet with a seller because he is an investor.
The investor's (owner of the property) request was to communicate via his agent. My client got the duplex and is very happy with his purchase. I helped his to get a good deal!
0 votes Thank Flag Link Tue Jun 10, 2008
I think the “standard method” is to present it to the agent only. Most clients in Hawaii prefer to talk to their own agent without the other one present.

Cindi's approach is ideal. Since there is no way that the agent could anticipate all of the questions that might arise, it's best to talk to the other agent's client directly. It also makes it a more personal experience (but possibly uncomfortable).

Another good way to assist in the process is to write a cover letter stating why the offer is good. My clients told me a few years ago when I mentioned it that they thought it was a great idea. They called me a few hours later and told me they had sent their wedding photo from the previous year, with a letter stating why they liked the home! I still have the photo.

I am now selling their 2nd townhouse because they are moving to their next duty station. They have 2 children and are moving back to the mainland (I haven’t been there in 3 years; still wondering if milk or gas is more expensive).

There is also the possibility that there is a better offer, then you would never know if it was presented or not. The agent could have discussed the offers on the phone or in person and mutually agreed on the best one. If you want to be sure, ask for a signature on your offer.


Aloha,
Frank
0 votes Thank Flag Link Tue Jun 10, 2008
Hi!

I went to school at University of Akron...greetings from California! When I am representing the buyer, my goal is to sit down with both the sellers and their agent. This is not always possible....and some seller's agents are uncomfortable with this. My ultimate goal is to help my buyer purchase the home...so if the sellers or their agents balk at me presenting...I present to the agent only. I don't want to upset anyone in the process.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Tue Jun 10, 2008
Cindi Hagley, Real Estate Pro in San Ramon, CA
MVP'08
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