Question: Can Real Estate Agents Tell Other Offers?

Can a seller reject a full price offer?

Even when buyers submit an offer at the sellers’ asking price and with no contingencies, there’s no guarantee they’ll get the house.

Home sellers are free to reject or counter even a contingency-free, full-price offers, and aren’t bound to any terms until they sign a written real estate purchase agreement..

How do I convince a seller to accept my offer?

11 Ways To Get Your Offer Accepted In A Seller’s MarketYou’re finally ready to take the plunge and put in an offer on your dream house. … Make Your Offer As Clean As Possible. … Avoid Asking For Personal Property. … Write A Personal Letter To The Seller. … Offer Above-Asking. … Put Down A Stronger Earnest Money Deposit (EMD) … Waive The Appraisal Contingency.More items…•

Should you offer above the asking price?

While every listing and situation is different, paying above asking price is very common. So buyers should be ready to consider it if they’re making an offer. … He says offers typically need to exceed at least 1 to 3 percent over list price when there are multiple competing buyers.

Do Sellers usually accept first offer?

Real estate agents often suggest that sellers either accept the first offer or at least give it serious consideration. Real estate agents around the world generally go by the same mantra when discussing the first offer that a seller receives on their home: “The first offer is always your best offer.”

Why do Realtors not want buyers and sellers to meet?

Why is it that agents are so reluctant to let buyers and sellers get together? Unlike most business deals, the sale of a home can get very personal and real estate agents are nervous about the parties dealing with each other. That’s because most agents have seen what can go wrong when buyers and sellers meet directly.

Can a buyer and seller have the same realtor?

Dual agent – A real estate agent may act as a dual agent representing both the buyer and the seller in a real estate transaction but only with the express consent of both parties. A dual agent shall be neutral with regard to any conflicting interest of the seller and buyer.

Can you put an offer in on more than one house?

Yes, in many cases it’s possible to make offers on more than one home at a time (though some local real estate laws might forbid it). But it might cost you money in the form of a lost deposit. Much depends on the wording of the contract and your local laws.

Can a real estate agent tell you what to offer?

The seller may have something to say about this matter. In fact, he may even have instructed an agent not to disclose any offers. That is perfectly legal as well. A real estate agent should always be putting the interests of the seller ahead of their own.

Do sellers always pick the highest offer?

When it comes to buying a house, the highest offer always gets the house — right? Surprise! The answer is often “no.” Conventional wisdom might suggest that during negotiations, especially in a multiple-offer situation, the buyer who throws the most money at the seller will snag the house.

What should I not tell my real estate agent?

Among the things home sellers should not say, the lowest price you are willing to take is probably a no-no. “The primary thing I tell people not to discuss is the minimum price they will accept,” notes Babbitt. “When you tell your agent your lowest price, they are going to shoot for that price in the contract.

Do estate agents lie about viewings?

They may not have lied. I work in an EA and you would be amazed how many people don’t turn up for the appointments they’ve made. If the agent lies and says people had viewed when they feedback re: open house then obviously that’s not OK but it is likely they are as disappointed as you.

Can Realtors share offers?

Monty’s Answer: Real estate agents are not allowed by law to share your offer with other buyers or any other details of your proposal with anyone except the seller. However, in my home state, the law does not extend to the seller of the home you want to buy. The seller can share your offer with other potential buyers.

What is considered a lowball offer?

A low-ball offer is a slang term for an offer that is significantly below the seller’s asking price, or a quote that is deliberately lower than the price the seller intends to charge.

Do you tip your realtor?

You should not tip your Realtor, in any way. It is neither expected or considered the standard practice. In fact, some real estate agents say that gifts or bonuses make them uncomfortable. Tips can actually cause them extra work to ensure they stay within the law and adhere to their licensing regulations.

Can I make an offer on a house that already has an offer?

A: If nothing has been signed, then there is no executed contract meaning you can still put in an offer and have it accepted. If an offer has already been accepted, then you can ask if the seller is interested in back-up offers.

Can buyers and sellers talk to each other?

As a general rule it certainly is not a good idea for a buyer and seller to talk directly with each other during negotiations. … Good communications between the buyer and seller are important, and that also means that both Realtors need to be good communicators, too.

How long does a seller have to accept or decline an offer?

around 48 to 72 hoursHow long does the seller have to accept or decline an offer? It depends, but it is typically around 48 to 72 hours after the offer has been submitted. A standard real estate purchase contract specifies how much time a seller is given to consider and act on an offer.

Can estate agent tell you other offers?

Can you legally disclose offers? Most real estate agents don’t disclose offers to other buyers. … Agents are required to inform the seller of all offers made to purchase the property, but there is no law to prohibit the disclosure of offers to potential buyers.

Why do estate agents not tell you other offers?

The estate agent has an obligation to pass your offer to the vendor. The only exception is if the vendor has instructed the agent not to. This is known as “not excepting offers”. It might be that the vendor has asked not to be notified of offers below a threshold or they have already accepted another offer.

Why would a seller decline a showing?

The seller has an odd sleep/work schedule. Shift workers, medical personnel, and first responders all have wonky work and sleep schedules. If the time you want to visit falls squarely into their REM cycle, odds are that they will say no. The listing agent must be present for all showings and they are not available.

Do estate agents talk to each other?

Yes, real estate agents talk to each other, and they do so to : Facilitate the sales in which they are involved. Build a professional network which, in turn, helps them better serve their clients. Learn about the properties, the neighborhoods, and issues that might affect their clients.