Realtor asked to present my offer verbally. Why?

Question

I viewed a property today and made an offer within an hour or two afterwards. Through talking with the realtor (the listing agent) I found out that it is heir property and the heir just wants out. I made 2 offers. One deeply discounted with conventional financing and all the inspections along with a few contingencies. Also one with seller financing slightly below asking price with favorable terms. To my surprise the realtor asked if I mind that she present the offer verbally. Why would she want to do that? I sent my offer with brief explanation as to how I arrived at the numbers to her via email so there wouldn't be any confusion in wording. Something I've done before. It would have been very easy to copy and paste to a buy sell agreement. Should I have said no to her presenting verbally?

FYI I did say yes to it but asked for 2 things. #1 that she forward my email to them after speaking with them since I basically wrote it up as a letter of intent just as I would if for sell by owner. #2 I asked for a response within 24 hours so that I didn't create a bidding situation. One where they hang on to my informal offer for a period of time while waiting to see if something better comes along.

FYI I did say yes to it but asked for 2 things.  #1 that she forward my email to them after speaking with them since I basically wrote it up as a letter of intent just as I would if for sell by owner.  #2 I asked for a response within 24 hours so that I didn't create a bidding situation.  One where they hang on to my informal offer for a period of time while waiting to see if something better comes along.

Account Closed · Answer

She wants to present it verbally for several reasons. She wants to see the expressions of the sellers so she can gauge how close the offer is to what they are willing to accept. She also can get feedback from them to modify the offer if necessary and present a written offer. And in the event they laugh in her face, she hasn't wasted all of the time filling out paperwork forms. Don't worry, my offers are like yours (I present them myself, I'm more successful that way) and I can get the feedback I need to modify the offer. It isn't personal. She just isn't confident in your offer.

John Morgan · Answer

@David Mathews

My last three SFR purchases were done like this verbally to the seller from the listing agent. I always go with the listing agent so I can get the scoop on the seller and how desperate they are. Their agents give me valuable intel on their situations and I make my offers according to that. They’re always verbal offers since I always come in low and they usually counter back quickly to me over the phone with the listing agent. Once we come to a price and condition then they draft up a contract. It saves a lot of time for everyone.

Michael Noto · Answer

@David Mathews Probably because your offers are low and she has a handle on what her client is willing to deal wih and not deal with. Also, if the person really wants to sell they won't consider the owner finance option because they need and/or want the money.

Have you considered getting your own agent to make offers for you? In most markets the seller pays the commission so you will be getting someone working on your behalf, with your best interest in mind, for no cost. As opposed to the listing agent that has a fiduciary duty to the seller, not you.

Terrell Garren · Answer

I appreciate realtors who will proceed quickly with a verbal conversation/offer to see how interested the seller or seller's agent is before both of us spending time on a contract offer.

Frank Procopio · Answer

She most likely knows the seller will not go for  the offer and did not want to waste her time writing it up.

Account Closed · Answer

@David Mathews you got a ton of good feedback already. I had a number of buyers agents  work out a verbal agreement with me prior preparing a contract. That way there is not a lot of countering if any.

Any update on how things went?

Account Closed · Answer

Now that sounds like what I'm looking for. Thanks for the heads up.

Account Closed · Answer

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Scott Anderson · Answer

It can also be to prepare for dual agency which they may not have ok’d yet.

They can’t represent you without the sellers written ‘ok.’

Realtor asked to present my offer verbally. Why?

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