How to approach a seller directly when property is on MLS

Question

I have come across a property that I am interested in that is currently listed on the MLS.  From the county assessors website it appears the property is own a by trust.  I found the potential members of the trust and am curious as to how I should reach out to them in regards to the property.

If it would help any it looks like a widow (late 70s or early 80s) and her kids are members of the trust and some of them live in the area.  Thanks and would love to hear different opinions.

Mason Hickman · Answer

@Zachary Harrison

Don't go direct; call the agent. Calling the owner will just muddy the waters and annoy the agent representing the seller who you will ultimately end up working with.

Mason Hickman · Answer

@Zachary Harrison

The seller has made an arrangement with the broker to sell their property (likely for a variety of reasons). Work through the agent to present your offer and try to get the agent to advocate for you.

Account Closed · Answer

Contrary to what the agents/brokers say, contact the seller directly if you are doing creative financing. My experience is that most agents and brokers don't have the knowledge to get a creative finance offer through the gate and explain it to the seller and won't present the offer, to their detrement. If you are a serious buyer they should be happy an offer came in.Believe it or not, the agent's/broker's first concern is how do they get paid. Imagine that. Lol  The seller will contact the agent if they dont' want to deal with the offer directly and you can't close on the purchase without their agent if the seller signed a contract with them, but at least you will know your offer got to the seller.The seller has an legal & moral obligation to pay the fees written into the contract they signed, so the agent will get paid one way or the other. You can't legally skirt around that fee. Just add it into the offer, it's part of the deal. And rightfully so, you wouldn't have known about the opportunity if they hadn't listed it. The agent did their job, they should be paid for it.

But, you are the best one to present your offer and answer any questions the seller will have. After you've made contact with the seller include the agent in the discussions.

Michael Brattelli · Answer

@Zachary Harrison I do a lot of estate sales and I can tell you from experience Guardians, executors, and most sales like this the sellers are trying to unload the property with the least amount of hassle. They want to cut ties with the property as its emotionally draining and stressful and the chunk of money isn’t the most important thing (90% of the time). Probably not the type of properties you should be going to for seller financing. I would look more for older investors that are looking to unload some of their portfolio for seller financing. And never go around the listing agent like many others have said. Bring your own agent and deal direct. Especially if you’re new to the game. Good luck

Joe S. · Answer

If it’s already listed then you are definitely looking at a higher bar if you’re seeking creative financing. If there are multiple family members involved it is not that convenient typically to offer terms. When I am working with a seller and I find out there are multiple siblings involved I know that there needs to be an all cash offer involved. As a matter of fact I closed one today where there was going to be a split of the money between family members so an all-cash offer was the most logical move. I’m not against creative financing I have actually done quite a bit over the years, but if you can figure out a way to provide an all cash offer it will definitely widened the playing field for you.

Nicholas L. · Answer

@Zachary Harrison

what are you trying to accomplish, and do you have an agent?

Tom Fidrych · Answer

It's best if you can bring your own agent to the table to advocate for you. If you contact and work with the seller's agent, theoretically they are supposed to act in the seller's fiduciary duty-not yours.

As others have said, don't contact seller directly as their agent has time and money into listing the property and someone may end up in court. If a listing has expired and been taken off the market, then it may be appropriate to reach out to the owner directly keeping in mind that there is a reason it didn't sell.

Eliott Elias · Answer

Call the listing agent

Nate Sanow · Answer

I don’t care if you go direct to sellers - when a property is off market…when it is listed, with a listing agreement with a realtor, to be blunt, it’s a jerk move.  Why not just get agent representation?  99.99% of the time, the buyers agent commission is paid for by the seller, not you.

Eliott Elias · Answer

The sellers have to pay the realtor no matter what.

How to approach a seller directly when property is on MLS

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