Realtor wants to do verbal offers

[Kelly Payne]

I've been looking at properties on the mls that have long dom, need work, etc.

I'm putting in pretty low offers and my realtor wants to give verbal offers to the listing agents to see if they're even interested, instead of a written offer.

I'm concerned she's doing this in a nonchalant way that doesn't convey 1) that it's a serious offer or 2) outline our terms (like cash and as-is).

I'm not so keen on writing up a contract on every offer, but wondered if I could submit my own letter of intent and if they show interest THEN have my realtor write up a contract.

Or maybe send my letter of intent to my realtor and have her forward it the listing agent.

What do you think?

[Tom Wilhelm]

Originally posted by Kelly Payne:

She'd emailed me back as soon as I finished posting above.

She said that I need to put a time limit on our agreement and that I may not work with anyone else during that time limit.

She also said that generally people work with one realtor, since there could be a problem if two realtors sent me the same property. She said if we were going to work with more than one realtor she'd rather opt out of working with us.

Does she have a point?

That sounds more like a standard "retail buyer" oriented sales pitch to me. She wants easy, quick, short-term money rather than a long-term mutually beneficial business relationship.

You should find a local realtor who knows how to work with investors and is interested in your goals and how they can help you achieve them.