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'&#... |
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Additional Details
30 year fixed rate at 6.625% on a 30 day lock approved on a Home P... |
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J M | Do realtors have to present your bid to the seller even if they think offer is lower than the listing price? |
If your realtor contacts the listing agent for the seller with a low offer....do they have to present or can they just say they won't present to the seller? I thought legally they were just brokers and had to present all offers to the seller.....no matter what. |
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Mike N
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Here is the corrrect answer :
The buyers agent always has to present offers regardless.
The sellers agent does not & heres explanation on why.
National Association of REALTORS: Article 3
Duty to cooperate; REALTORS shall cooperate with other brokers "EXCEPT" when cooperation is not in the clients best interest.
This is how this could happen .
MR & MRS. Seller tell broker "A" That they are very busy and do not want to look at any offers below 390,000 for the house they have listed for 455,000 And Then broker ''A" Tells broker "b" that his offer of 379,900 is to low and will not be presented to seller.Then Broker "b" has to tell his clients that the offer they wrote up was to low and was not presented to sellers by sellers request and in some circumstances I have had sellers tell me not to even show a 2nd offer from a buyer who has lowballed them |
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hatchland
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According to the National Association of REALTORS (NAR) Code of Ethics, your Realtor is absolutely obligated to present your offer to the Seller!!! How could they possibly presume what the Seller will say/do in response?
If you have any questions go to NAR's website. If your Realtor refuses to present your offer, GET ANOTHER REALTOR AND TURN THE FIRST ONE IN TO YOUR LOCAL ASSOCIATION OF REALTORS!!!!!!!!!!!! And turn them in the your state Association and to NAR, too!!
And by the way, Thomas J sounds like a poor jerk who was once screwed by a bad REALTOR. We're not all like that, Thomas J!!! |
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estee_1998
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Realtors have to present to the seller all the offers even if the are very low.
I am selling my house in AZ, I got very ridicules offer like 30% off the asking prices which I thought the buyer was crazy, but an offer is an offer and by law the seller needs to see it and if its not acceptable to reject it. |
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Amanda H
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They're required to present all offers even if its for $20.00.
And FYI, they dont "think" the offer is lower than listing price--- either it is or it isn't.
Also, a real estate agent is not usually a broker. Brokers are higher than agents. |
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AB
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They will present your offer, no matter how low it is. It is a legally binding contract and they are required. Remember, they work on commission. If there is no sale, they get $0. So to them, an offer is an offer. However, the seller may be offended by the low offer, so it makes the agent's uncomfortable to come in with a low offer. |
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teran_realtor
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The buyers agent owes a fiduciary duty to the buyer (that means he works for the buyer). That includes advising you on what is the best course of action to take if you want to buy the house, and may include trying to get you to make a better offer on the first try. (a low offer may result in the seller refusing to look at ANY further offers from that buyer)
The seller's agent (listing agent) owes a fiduciary duty to the seller (he works for the seller). That includes advising the seller how to treat particular offers. In MOST instances, the listing agent MUST present all offers that have been brought to him. If the seller has told the agent not to present any offers below a certain amount, then those will not be presented. So the answer to your question is "NO, the listing agent is not always required to present all offers to the seller."
BTW - Even if a low offer does get presented to the seller, there is no requirement that the seller respond whatsoever. |
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royal_fiction
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According to California real estate law, (not sure where you are but probably similar) the listing agent must present all offers to the seller. The listing agent is NOT a principle to the transaction. If the agent is part of the National Association of Realtors, they have to abide by a code of ethics which state that they have a fiduciary duty to their client. Call me crazy but not presenting an offer to the seller and keeping them from the opportunity to counter or accept doesn't sound like that agent is keeping their duty to their client. Have your Realtor remind the seller's agent that they have a duty to their client which includes prensenting all offers. |
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ogrendle
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In my state YES YES YES. You Bet! Absolutely! You Betcha! Always! Everytime! |
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rmijares
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By law a buyers agent must present any and all offers to the selling agent upon the request of the buyer. Regardless of price, the buyer's agent must present the contract if it has been signed...
Good luck!! |
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Phoenix, Wise Guru
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I don't see how the agent is representing the potential buyer by not passing on your offer. Most people make offers lower than the listing price. I don't see why that would keep them from submitting the offer. |
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firedncer80
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Yes. Agents and/or Brokers have to present all offers to their clients. Always. |
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grgrynoel
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the Realtor under every circumstance work for the seller no matter if it is a bad decision or not .seller is their priority |
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Thomas J
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Most important thing to remember when dealing with agents, whether selling or buying agents do not work FOR you.
Agents for for commissions. Sometimes it is in their best interest to do what is best for neither the buyer nor the seller.
For instance, if you are buying a house, your agent wants you to win the bid. They might advise you to bid higher than you want so that you will win the bid. They will always try to persuade you from bidding too low, even if that low price will get you the house.
If you are a seller. Your agent will not try to get you the highest bid. They will try to get you the quickest bid. The more houses they sell, the more money they make. If you reject an offer that is too low, they have to put in a lot more hours for a small percentage.
So it doesn't matter if you are buying or selling, your agent does not work for you. |
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