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Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

What does your SELLER want you to do, my homie?

Jul 21, 2018 09:42 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Inform the seller and let them make the decision.

Jul 21, 2018 10:00 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

It's the seller's decision.... but this is what to expect when you put a deadline.... I'm not a fan!

Jul 21, 2018 09:47 AM
Rainmaker
3,626,530
James Dray
Fathom Realty - Bentonville, AR

Our state statue says you must present all offers in a timely manner.  That means, regardless of what your seller told you, present the offer.  So says the Commission..

Jul 21, 2018 09:43 AM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Your job is to let the seller know that they have an offer...

Why would anyone advise a seller NOT to respond? 

What other offers?  the ones you HOPE TO GET? If this is a good offer within the parameters, the seller should grab it.  

My buyers offers are always on a short fuse...if there is no response in 24 hours, they move on to a another property.

Eve

Jul 21, 2018 09:15 AM
Rainmaker
4,572,439
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Discuss with the seller. Again.   This is not an unusual occurrence and you should be able to plan for it.

Jul 21, 2018 11:11 AM
Rainer
130,857
Steve Penner
Royal LePage Dynamic RE / Pro Ledger Bookkeeping Software - Winnipeg, MB
REALTOR® / Pro Ledger Online (owner)

In our market, it is mandatory that when there is a scheduled offer date, that the seller signs a standard form stating that they are not allowed to entertain or negotiate any offers in advance of that date. 

The concern is that by setting up and advertising an offer date and then accepting something in advance will be:

1) A black eye for the real estate profession (for reasons below).

2) Interested buyers are making plans to work towards an offer need to know that the date is "real" and not going to vanish.

3) Seller are (on average) served better when all offers and buyers are at the table (not just the ones who have the best running shoes :)).   

4) The concern is that both seller and sellers agent are engaging in false and misleading advertising. 

Anyway, that is how it is here, and has been working very well for over 10 years.  The date can be pushed up.. but it cannot be made earlier than the intial date provided.

Jul 21, 2018 10:55 AM
Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

I must present the offer, give the seller the options, and let them chose. Why risk losing an "irresistible" offer by waiting around though? -Kasey

Jul 21, 2018 09:58 AM
Ambassador
5,230,130
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Your job is to present all Offers and share the possible consequences of each of their possible decisions. Let THEM decide what to do. 

Advice is not education - Suppose you say, "You should ignore this Offer and wait until the previously stated deadline to see if you, by chance, get more Offers." They take your advice. On Tuesday, you have no other Offers AND that perfect, 'irrestible' Offer AND the buyer are GONE...POOF! They've bought another house - never to return!

Now you have a VERY angry seller and will probably lose the listing.

Jul 21, 2018 06:57 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

This is a seller's decision, but you must submit all received offers expeditiously. 

Jul 21, 2018 11:10 AM
Rainmaker
900,228
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

First, deadline should mean "not later than", not when you start looking at the offers. I think they should be presented, reviewed and discussed with the seller immediately as they come in and the seller should make the determination as to how they wish to proceed. The Tuesday "viewing" doesn't make sense, while the Sunday deadline  by the buyers with the "irresistable" offer makes perfect sense.

Jul 21, 2018 11:07 AM
Rainmaker
7,836,431
Roy Kelley
Retired - Gaithersburg, MD

Change the deadline and accept the best offer.

Jul 21, 2018 10:00 AM
Rainmaker
2,781,273
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Come one come all...Let us reason together

Jul 21, 2018 09:16 AM
Rainer
509,449
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

I would present all to the seller and let seller decides.  I've had something similar in which the seller decided to take the irresistable offer.  

Jul 21, 2018 02:04 PM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

When I have listings with deadlines like this I must honor them or credibility goes out the window. Therefore #1 is going to have to be my answer.

Jul 21, 2018 11:46 AM
Rainmaker
1,543,833
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Counter it on Sunday and set the counter to counter response date to Tuesday.  The stall will push it to Tues by default.

Or call the agent and tell them if they want a counter to extend the deadline.

Jul 21, 2018 11:43 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Present to seller & then let them decide. The BA is not playing nice so see how the seller wants to handle it. Most sellers want to act fairly.

Jul 21, 2018 11:24 AM
Rainmaker
679,404
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Let the Seller decide!

Jul 21, 2018 10:29 AM
Ambassador
1,026,993
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

I have seen several listing agents notate in the MLS something like - Seller will review all offers on Tuesday at 5:00 pm but reserves the right to accept an offer at any time.

I am not personally a fan of the deadlines. If it's a hot enough commodity to warrant multiple offers, you should get a good offer in a timely manner, and you risk losing the 'bird in the hand' if you're waiting additional days for 'the birds in the bush.'

If I had put in a date in the MLS, I would discuss the pros and cons with the Seller and might change the MLS so others don't have that expectation. Then I would notify everyone who has shown that they have 12 hours (however long) to have an offer in if they're going to write.

I do not believe that if you have an 'irresistible' offer that it's in your Seller's best interest to possibly lose it for other offers that may or may not come in.

Jul 22, 2018 06:07 AM
Rainmaker
2,220,654
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Presented to the seller and let the seller know that it expires on Sunday and let the seller determine what to do.

Jul 21, 2018 05:10 PM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

We discuss the possibly of a “preemptive” offer with our sellers. The purpose of early offers is to get the property off the market and into contract so that the one making that offer does not have to compete with other buyers in this multiple-offer market that we are in. The last thing we want for a seller is to have them accept an offer and then receive a better one two days later. We get the seller’s agreement to the deadline and refusal to accept early offers in writing.

Note: our mls rules say that, once an offer deadline is published, any change must be published at least 24 before the new date.

Jul 21, 2018 04:40 PM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

This is why i do not like to set offer deadlines, especially out that far. I list the house, i have pre marketed, i show it and bring offers to my seller when they come in. If i know a Bunch are in, i may wait for all. But i dont like to hold offers. I like to sell my listings quickly and the best obtainable price. 

Jul 21, 2018 03:30 PM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Present it to the Seller.  Let them decide.

Jul 21, 2018 02:49 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

It seems very clear to me.

The offer full of exit opportunities is not much of an offer.

An irresistible offer will waive all contingencies including an appraisal fail safe. This irresistible offer does not have to be a full price offer but an offer that assures closing on time.

A over listing price offer IS NOT irresistible but simply an action to get this house off the market. Then the stage is set for the beat down.

More details needed.

The agent who advises buyer to 'move on' when their deadline is missed may not be acting in the best interest of their client. I advise sellers that deadlines are the first act of negotiating. Don't start by letting the other side start you going backwards. There are more qualified buyers than quality  single family homes.

Jul 21, 2018 02:24 PM
Rainmaker
564,494
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

Our fiduciary duty as a listing agent  is to the seller - to clearly explain the situation and the viable options and let them decide... 

Jul 21, 2018 12:34 PM
Rainmaker
911,338
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

4 if that is sellers instructions. Sellers can change deadlines.

Jul 21, 2018 12:30 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Candice A. Donofrio nailed this one!

Jul 22, 2018 07:16 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

That buyer's  agent is trying to hustle the deal and I would let the seller know and see what he wants to do.

Jul 21, 2018 08:56 PM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

seller will he accept a preemptive offer?

Jul 21, 2018 06:33 PM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I try not to reward people for not following instructions, they will likely still honor the deal on tuesday.

Jul 21, 2018 06:14 PM
Rainer
378,517
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

present the offer and let the sellers decide.  NOT the agent's call.

Jul 21, 2018 01:42 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful,

I now what my seller would want me to do, and I would follow through.  The sellers are the authority not us.  A

Jul 21, 2018 12:28 PM
Rainmaker
5,868,565
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Depending on what the Seller has to say - I put in the MLS Broker remarks - Seller may accept an offer prior to deadline.

Jul 25, 2018 07:26 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I will call the seller and present it.  Then deal with what to do next

Jul 24, 2018 06:26 PM
Rainmaker
4,936,716
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I work for the seller so 4

 

Jul 23, 2018 12:22 PM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Irresitible offer should be presented. :)

Jul 22, 2018 05:18 PM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Move the time up for viewing.

Jul 22, 2018 10:19 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

All that is addressed upfront with the seller.  If no pre-emptive offers - then no preemptive offers. Even if I receive one I would have a duty to let the seller know. Some sellers don't want to know. It is not our decision to make ... it is theirs. 

Jul 22, 2018 08:30 AM
Rainmaker
5,217,203
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Advise the seller and let them decide right after you remind them about "one in the hand..."

Jul 22, 2018 06:53 AM
Rainmaker
4,883,260
Richard Weeks
Dallas, TX
REALTOR®, Broker

Unless you have specific instruction from the client you present all offers.

Jul 22, 2018 06:42 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would inform the seller and abide by their wishes.

Jul 22, 2018 05:59 AM