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Sherie | I'm a Realtor and I put in a offer for my clients.? |
My clients put down half and went over asking. The other agent is within my company and does not return my emails or phone calls. He meet with the owners last night to go over the offers and I'm suppose to hear back from him at some point today. At what point today if I don't hear from him should I call him? My clients are beside themselves and very stressed out. Thanks |
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RetiredDebtFree
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You should call him after lunch hour, then again about half an hour before your office close. Leave him a message that he can call you as late as 10pm (or whatever works). If you don't hear back from him by morning, talk to your managing broker. I always think offers should be good for 48 hours, so Sellers can't sit on an offer and shop around for a better offer. Good Luck. Hope the deal Closes without a hitch! |
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realtor.sailor
 |
Why would you let your buyer pay a deposit equal to 50% of the purchase price? Presuming the offer is accepted, but prior to closing an issue comes up that can't be resolved and your buyer wants to cancel the contract but the seller won't release the deposit. Your buyer's large deposit is at risk. Unless your buyers MUST have that house, I would suggest they withdraw the offer ( an offer can be withdrawn at anytime prior to acceptance) and re-submit the offer with a more reasonable deposit.
realtor.sailor |
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lightupthesky25
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I would wait until at least 4:30 - right before business hours are over. I realize not all realtors work regular business hours but I think that's fair. Stinks that the other agent is in your company and still won't talk to you though! |
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rswpbc
|
Are you new in real estate and this is your first transaction as an agent? A designation of Realtor would say that you took additional educational classes so you would know more about different types of transactions, what you can do to help your clients and more,
You are a buyer's agent and therefore should be looking out for your buyers. You should know better than to have them put an offer in that is over the asking price and that their Earnest Money Deposit is half of the asking price, that is ridiculous!
If there are multiple offers, and you should have known there were,then why did you let them put in an offer? When there are multiple offers that is the worst case scenario......Of course the other agent, Sellers agent, is not going to return your phone calls, he doesn't have to until his seller makes a decision. The more you bug him the less chance he will call you.
Your clients are stressed because you are stressed and don't understand the process. What I suggest you do is call him today around 3pm. If he doesn't answer or has not returned your phone call you need to get your broker involved. Request that the broker and the Selling agent sit down with you so you can be more informed. Don't try to do this on your own you need your broker to be involved because the other agent may be trying to double end the deal. If the Sellers agent is seasoned then he knows more than you and may try to take advantage. I hate to say that but its more often then not the case. |
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Ghost of Zeuz
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Why call him? You both work for the same employing broker, right? Call your boss. Technically, he's responsible for both the buyer and seller in this transaction. |
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Rick B
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You are the realtor. You don't know when to follow up on offers?!?!!?
Why are they beside themselves? Yo udid help them to understand that there are many other houses out there right? You make it sound like they are desperate for this house and that is never good in a negotiation. I'd highly encourage you to help them to understand that this is just one house (out of millions) that might fit their needs. I am not sure what market you are in, but offering over the asking price and putting half down seems very 1990. I would be offering as little as possible and waiting for a counter-offer.
I guess if you don't know what you are doing in this you should talk to your broker. That is why he/she is there. Don't you have a mentor that helps you with stuff like this? If not, you should find one. |
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alicialions
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You are the real estate agent, you should know when to do these things. What is typical in your industry? |
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acermill
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YOU need to take control of your clients. As an agent, you need to inform them that the sellers NEVER have to respond to their offer (regardless of how attractive it may appear.) I've prepared offers WELL over asking price, only to discover that another buyer offered MORE. Your obligation is to prepare the offer and submit same. You CANNOT demand a response. You can only inquire. |
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