Investor · West Palm Beach FL · Member since 2024 · 66 posts · 25 votes
If a property is on the MLS but you're not sure if the listing agent is being truthful or passing along your offer, can you use Propstream (or something that others recommend) to mail, email, or call the owner directly with your offer?
This way if they pass you along to their listing agent, at least you know the offer was seen. This is assuming that you're not even talking to the listing agent initially (skipping them) and going directly to the owner as the buyer.
1. Are you working without an agent? If so, consider getting an agent! A buyer's agent often knows the seller's agent from previous transactions and knows how they work and there usually would not be a question about this.
2. Agents have a legal obligation to present offers, BUT sellers do NOT have any obligation to respond to your offer!
An agent has very little incentive to not to present your offer to the seller. They also have BIG incentives to present your offer. First off they could close a sale and make a commission and secondly failing to do so could cause their license to be suspended or pay a fine.
3. In some places you can request an oral presentation. This is where the buyer/buyer's agent presents the offer to the seller directly. This may be done in person, over the phone, or maybe a zoom. This is not overly common, but if you have a concern the worst they can say is no.
4. If you go directly to the seller as the buyer, you run the risk of being stigmatized. Do you want to be the guy nobody wants to do a deal with?
5. If you honestly believe they may not have presented your offer, contact the agent's broker. The broker is obligated to supervise the agents under them. The brokerage is often held responsible if an agent acts inappropriately. So, the broker will usually investigate and correct an agent who isn't operating as they should.
6. Worst case, contact the seller AFTER the listing expires or a sale closes! If they claim not to have seen your offer you file a complaint with the local board of realtors and also with the state's real estate commission.
Thanks for the detailed response. The challenge is knowing if the listing agent actually tells your offer to the seller or not.
For example, if a distressed property is $650k and you want to offer $620k, the listing agent says the lowest the seller may accept is $645k, but is that actually true or made up because the listing agent wants their commission?
So there's not a way to know unless you find out from the seller directly.
Thanks for the detailed response. The challenge is knowing if the listing agent actually tells your offer to the seller or not.
For example, if a distressed property is $650k and you want to offer $620k, the listing agent says the lowest the seller may accept is $645k, but is that actually true or made up because the listing agent wants their commission?
So there's not a way to know unless you find out from the seller directly.
@Bob Asad, that is not something you need to concern yourself with. If this is what concerns you hire a buyer's agent because you are focused on the wrong things altogether.
A seller may direct an agent to negotiate on their behalf within certain parameters or they may discuss how to present/frame a specific response to an offer.
An agent has an obligation/duty to be honest and deal in good faith. They also have a fiduciary responsibility to their client, in this case the seller. So, if an agent says that, its not something you should be spending your time second guessing.
If the seller wanted to deal with you directly, they would!
Here is one thing you can do if you honestly do question that situation. Ask the seller's agent to put their counter offer in writing. They may balk at that wanting you or your agent to do the leg work of putting paperwork together but they may do that and if they do the seller would be signing that counter offer of $645k. Again, a buyer's agent working for you would handle all of this nonsense.