Offer missed by seller's agent!

11 Replies


Hi All,

I made an offer through my agent and I lost to another bidder. It turns out the seller's agent didn't see the full offer and so missed the fact that it was multiple deals I was bidding on. The incorrect price may have been fed to the seller but definitely not the full offer I made.


I've lost the deal. Anything I can do at this stage?


Thanks

Updated about 1 month ago

*Deleted*

Originally posted by @Ben Ezequiel :

Hi All,

I made an offer through my agent and I lost to another bidder. It turns out the seller's agent didn't see the full offer and so missed the fact that it was multiple deals I was bidding on. The incorrect price may have been fed to the seller but definitely not the full offer I made.


I've lost the deal. Anything I can do at this stage?


Thanks

 If its a one off event, maybe give him the benefit of the doubt. But if this is a regular occurrence or if you don't like him, find a new agent. I am a real estate agent in Ohio and the biggest thing is being responsive, active, accurate, and fast. If I'm not, my clients will choose another agent. Just the name of the game.

@Ben Ezequiel

You can see about going into first backup position. If the person ahead of you backs out, you go into contract automatically.  Talk to your agent to see if that’s possible. 

Most of the time this just gives the seller more leverage in his current contract negotiations but it could lead to you getting the deal in the end. 

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Is there any legal recourse to make sure they review my offer since it arrived in time (although they already signed with the lower offer)? Don't they have to present all offers to the owner?

Property is in Chicago, in case that helps.

If they already signed on the lower offer this seems like a non issue.  If you go under contract and then someone  comes in with a higher offer you are going to expect them to honor the contract with you.  Take the L on this one and use it as a learning lesson. I have had a verbal acceptance before on a house and the agent said that I would get their signatures the following day since the sellers were old school and don't use docusign.  A higher offer came in that night and they backed out on my offer even though we agreed.  I was angry but my agent told me it wasn't worth my time to pursue, I won't make offers on that agents listings anymore though. 

They have an accepted offer, so unless it falls through and you are back up, no there isn't anything you can do.  You mentioned that there were multiple deals you were bidding on-did you put in multiple offers on multiple homes at the same time?

Nothing you can do really.  I am an agent and I always ask the other agent to confirm receipt of my offer.  If I don't get a response within a reasonable time I call.  This actually just happened where the seller's agent was a part time agent and didn't check her emails daily, luckily we were the only offer and we close Monday

@Ben Ezequiel this is a terrible situation for sure. I can sympathize as a buyer as it is so frustrating to not feel like you had a fair shot. I can also sympathize as an agent since multiple offer situations can be very stressful. We have had to build out spreadsheets this past year to keep track of offers on a lot of our listings here in the Chicago area due to the competitive nature of things and the sheer volume. Often times we would have more than 10 offers... it is a lot to manage. 

As an agent, I always make sure to email, call and text. I then follow up all three ways until I figure out the listing agent's preferred method of communication to make sure that an offer is seen and presented. That is part of the game. Follow up is everything.