Broker unresponsive after offer- contact owner?

Question

My business partner and I have submitted an offer on an 8-unit building. The broker is super unresponsive and getting a hold of him is a losing game. The building is $500,000 and our offer was for $450,000. The property has been on the market for almost 8-9 months.

The owner is 85 years old and has held the property for almost 30 years now. We feel our offer is competitive and have no problem offering more.

How should we handle an unresponsive broker? Should we mail our offer to the owner directly to the legal mailing address?

Ryan Dossey · Answer

If you have an attorney I would see if they'll give the broker a call. If he's just being lazy that would get him moving.

Jay Hinrichs · Answer

George.... commerical brokers work far different than resi brokers...

if this is not on the MLS.. it could be an exclusive listing and the agent could have orders from seller to only respond to certain price terms.

personally being a broker I am cognizant of not going behind a broker.. but if you are simply getting silence then I would contact the owner direct..   I have had to do this as a broker over the years when the Owner broker of a small firm was unresponsive.. worked well each and every time. ( at least for me)

Brian Truman · Answer

@George G., got it. Ok, are you a licensed broker? If so, there are possible repercussions if you have a membership with the local Multiple. That's the way it is here in WA state. You need to honor the fellow members of the Multiple, and keep trying to contact them. If you are not....Its a free country, brother... I'd send the offer directly to the owner. I do that a lot here.

If you have the number of the seller, which is usually on the listing, I'd call them also to see if they cant get hold of the broker.

George G. · Answer

He is an independent broker with his own little firm. Solo practice. The owner is 85 something years old. It's a good deal for us as we know exactly what to do and have researched the hell out of it. Even at asking price it's an amazing deal. Should we just go in with asking price? I know I'm not giving much to go off of. It's a $500,000 8 unit property. Owner has owned it for 30 years. We can drive revenue and cut some of the costs to improve property performance.

Brian Truman · Answer

Hi @George G.,

That is a super frustrating situation! This is what I do when I don't get a response from a broker/agent. I would contact the managing/designated broker and ask if the unresponsive broker still works there, and when they ask you why you are asking, you let them know that you have sent an offer to them and have not heard back from them.... A call from their managing broker will usually get you a call back fairly soon. Cheers, and Happy hunting!

John Thedford · Answer

Are you represented? If so, have your agent track the other broker down. If not, you could always find an agent to submit the offer on your behalf. Fees come from the seller so it won't cost anything additional to use an agent and you will have a professional doing the batting for you.