![]() “In an ideal world, everyone would communicate, but there’s nothing that obligates the seller to explain to a buyer why an offer was rejected.” Best practices for advising sellers “Ideally, all offers and counteroffers should be communicated, but that decision is up to the seller who has no obligation to negotiate or communicate with a prospective buyer,” adds Caruso. But the buyer’s agent can ask, in writing, if the seller’s agent has shared the offer or whether the seller has waived seeing it.īuyers’ agents may also feel frustrated if the seller accepts another offer without giving their client a chance to respond. However, there can be delays if a seller is traveling or facing a personal issue.īecause buyers’ offers are not, by default, confidential, they can be shared with other bidders. Most buyers’ agents want to hear back from the seller’s agent as soon as possible. After that, it can be a waiting game to see how a seller will respond. “Sellers’ agents have a legal obligation to present offers in a timely manner,” says Meredith Caruso, Associate General Counsel for Florida Realtors®. Ask all buyers to submit their “highest and best” offer by a certain deadline.įrom the buyer’s perspective, all offers must be submitted in writing.Respond with counteroffers to some or all of the prospective buyers.Accept or counter the best offer and reject the others.But the listing agent cannot disclose that information without the seller’s permission. A seller may want to drive the price up and authorize the listing agent to share the terms and conditions of other offers. If an offer comes in below that amount, the listing agent is not obligated to respond. Only look at offers above a certain amount.Both are available through Form Simplicity. ![]() To help the state’s sales professionals, Florida Realtors has two forms available to assist in advising clients: The Multiple Offer Disclosure to Seller form and the Notice of Multiple Offers to Buyers form. “Agents serve as advisors and messengers to their clients, who make the decisions.” To avoid potential problems, sales professionals need to understand the rules of the game in multiple offer situations and educate their clients, says Anne Cockayne, former director of Local Association Services for Florida Realtors. Florida Realtors Board Certified Professional.Specialties, Designations & Endorsements. ![]()
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