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Answers (12)
- Pasadenan
- Contributions:21450
Issue resolved? That means your buyer's offer was presented to the seller? And that it was returned rejected, or returned with a counter offer?
As NAR's talking points are all unethical, I don't put any weight in any oath people take regarding NAR's code of ethics. It has no legal nor binding authority, and most of the local board reviews are shams.
As NAR's talking points are all unethical, I don't put any weight in any oath people take regarding NAR's code of ethics. It has no legal nor binding authority, and most of the local board reviews are shams.
- Carolyn Barbian, "CuriousAgent"
- Contributions:2
Thank you everyone for all your advise. I finally located the rule I was looking for in the NAR Code of Ethics and Standards. I knew it existed but just couldn't locate it at the time. I was able to get the issue resolved. It's good to hear so many different opinions.
- Robert Walker, "So Cal Agent"
- Contributions:1425
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- ConnieK_Oklahoma
- Contributions:2899
repeat of pretty much what others said...talk to your broker and it may be that the realtor has instruction from the seller. However..it happened to me once- I could tell the realtor wasn't going to present. first of all, I'm in Oklahoma and I have the right to ask to be present when the offer is presented to be sure it happens. I didn't do that, I simply called the realtor the last day of the 3 days given and asked- are you working as a transaction broker or a single party broker (single party can represent the principal in our state, transcaction is neutral). she explained transaction. so i repeated to her- well i am concerned that there is the appearance to the buyers that you haven't presented the offer and I need to be able to reassure them that this is not the case, they are the type of buyers that take the letter of the law seriously and will expect me to provide this clarity or seek assistance from the board. She said thank you. within an hour I got a call back that the she had presented and the sellers wanted to counter on a few details. (and then we closed the deal). I still believe she had no intention to present the offer and would not have- never figured out why. So, find out what your rules are and leverage them- the buyers and sellers deserve a fair honest transaction.
- Drew Ludlow, "DrewLudlow"
- Contributions:505
If you don't have the Listing Agent on your side, the Seller won't be o either. Even if you did force the LA to present the offer, you don't know HOW it will be presented.
Move to the next property. This one obviously won't work.
Move to the next property. This one obviously won't work.
- Dan, "the_country_hick"
- Contributions:4693
Not being a realtor myself I would do an end run. Knowing the address I would do a reverse phone number look up on the net. There is at least one free site for that. Then I would call the owner direct and explain how I would like to make an offer (no details except <your realtor will not allow my offer to be presented to you>needed). Allow the seller to fix the problem.
I would expect that to work wonders. The seller wants to sell. The agent gets a reaming. You just may get contacted asking for your offer. If you wait a couple of days expect your offer to be looked at. If I was a seller and found out my agent was refusing to submit offers to me they would wish they had.
I learned one thing in the military. Sometimes the chain of command gets in the way. Going to the top is sometimes the only way to get things done. In this case the seller is at the top. Legal or not? I am not a professional so it is for me. If your buyer was to make such a call I can see no law they would be breaking.
I would expect that to work wonders. The seller wants to sell. The agent gets a reaming. You just may get contacted asking for your offer. If you wait a couple of days expect your offer to be looked at. If I was a seller and found out my agent was refusing to submit offers to me they would wish they had.
I learned one thing in the military. Sometimes the chain of command gets in the way. Going to the top is sometimes the only way to get things done. In this case the seller is at the top. Legal or not? I am not a professional so it is for me. If your buyer was to make such a call I can see no law they would be breaking.
- Tere Rice, "Tere Rice"
- Contributions:307
The California Purchase contract on page 8 has a place where the sellers can sign and say they have rejected your offer, I ask for this to be sure the offer was presented. Some times the Short Sale agents will just hold on to back up offers incase the offer on the table is not accepted or goes away.
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
There is no rule or law that spells it out. The code of ethics under the standard practice says:
"Standard of Practice 1-7
When acting as listing brokers,REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease."
In short he should have something in writing from the owner telling him not bring him any offers below a certain amunt. If you have any doubt involve your broker or contact his broker.
If he is not a Realtor, the code of ethics doesn't apply to him either.
Naima
"Standard of Practice 1-7
When acting as listing brokers,REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease."
In short he should have something in writing from the owner telling him not bring him any offers below a certain amunt. If you have any doubt involve your broker or contact his broker.
If he is not a Realtor, the code of ethics doesn't apply to him either.
Naima
- John Crowe, "CroweHomes"
- Contributions:118
Has the agent shared whether it's his decision or his client's decision concerning the low offer? The seller makes the rules, perhaps they have given this instruction to their agent. If the listing agent refuses, ask him to send an email with the refusal.
In the future, talk to your broker or contact TREC.
In the future, talk to your broker or contact TREC.
- Larry Tollen, "Larry Tollen"
- Contributions:384
Your an agent, don't you know the real estate rules in your state? Have you spoekn to your Broker in Charge? How about calling your state Real Estate Commission? why would you trust any answers you received on Zillow rather than your own Broker or a local attorney/expert?
There is a popular misconception that there is a law that requires a listing agnet t present all offers to the clients, but there isn't. I would agree that a listing agnet who fails to do so is not only dumb as a rock, but destined to fail in this industry, Sellers should respond to any offer even if it's only to say, "No thanks" and listing agnets need to know how to speak to their Sellers and explain how neogtiating works.
There is a popular misconception that there is a law that requires a listing agnet t present all offers to the clients, but there isn't. I would agree that a listing agnet who fails to do so is not only dumb as a rock, but destined to fail in this industry, Sellers should respond to any offer even if it's only to say, "No thanks" and listing agnets need to know how to speak to their Sellers and explain how neogtiating works.
- Pasadenan
- Contributions:21450
There is no such rule. The agent works for the seller, and the seller can determine the criterion they want for pre-filtering offers.
The only things that are illegal are discrimination based on:
Age, Gender, Marital Status, Ethnicity, Country of Origin, Source of income, Religion, and Handicapping condition.
Even children or number in household are not on the list.
And even age is acceptable for discrimination if it is "senior housing" and the person is not old enough to qualify.
Besides, what would be the point of submitting an offer to the seller if the seller is just going to look at the first number and throw it in the trash without reading the rest and without responding?
And even if they do respond, if the answer is just a flat out REJECTED stamp in 6" tall red letters diagonally across the front page, what does that do for you besides waste the seller's time and money to put the stamp mark on it and return it?
The only things that are illegal are discrimination based on:
Age, Gender, Marital Status, Ethnicity, Country of Origin, Source of income, Religion, and Handicapping condition.
Even children or number in household are not on the list.
And even age is acceptable for discrimination if it is "senior housing" and the person is not old enough to qualify.
Besides, what would be the point of submitting an offer to the seller if the seller is just going to look at the first number and throw it in the trash without reading the rest and without responding?
And even if they do respond, if the answer is just a flat out REJECTED stamp in 6" tall red letters diagonally across the front page, what does that do for you besides waste the seller's time and money to put the stamp mark on it and return it?
- droopyd
- Contributions:403
Perhaps the seller has given the agent instructions not to present offers below asking. Stupid, yes, but some people are.
Can anyone lead me to the rule that says an agent must present every offer to his/her client?
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