St Augustine, St Johns County Real Estate & Home Staging

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Multiple offers? Sign and date that they were rejected.

Multiple offers? Sign and date that they were rejected.

 
After reading the featured post Let's admit to the elephant in the room: Listing agents are manipulating the process to double-pop their listings by Ralph Gorgoglione, about buyers losing offers to the listing agent's customers in a multiple offer scenario, I'm reminded of a conversation in a recent meeting at our local Board of Realtors. We were discussing contracts, ethics and more. Because the Jacksonville real estate market has heated up and has switched to a seller's market for properly priced and prepared homes (thanks to a low inventory level), multiple offers are more common than ever. 
 
 
Several of the Realtors in the room discussed the idea outlined in Ralph's post. Are seller's agents holding off on offers so that they get both sides of the deal? While the Broker leading the discussion felt that this is not a common occurrence, he did offer a suggestion for the seller's agents who find themselves in these situations. 
 
On each offer, after presenting the offer and the seller rejecting it, add a simple statement that says, "Offer received, reviewed and rejected by seller". Then have the buyer initial and date it. 
 
This will leave a paper trail that you were not holding back offers, or not presenting them to your sellers. As we know, a paper trail is the key to proving that you played by the rules and did your fiduciary responsibilities as a competent agent. I know for me, this will be a policy that I use moving forward.

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 Author Bio: Melissa Marro, Home Staging Industry leader, Realtor, and entrepreneur offers a unique perspective on New Home Construction, Resale Residential Real Estate, and Home Staging

For more information on buying or selling in the Fleming Island, Orange Park, or Jacksonville, area, visit StageListSellNEFL.com or call Melissa Marro (marro.melissa at gmail.com), Keller Williams First Coast Realty, for more information (904-466-2093).

 

Comment balloon 2 commentsMelissa Marro • October 01 2012 07:41AM

Comments

Melissa, Good idea to pass on. However sometimes the buyers are so miffed they refuse to acknowledge a rejection by intialing or signing anything. Then I guess we notate that as well. Suggested.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 5 years ago

Debbie - I'm not suggesting that the buyer's initial it, rather that the seller's initial it. This way it is clear that the offer was presented to the seller in a timely manner and that they rejected it, not the seller's agent. 

Posted by Melissa Marro, Jacksonville Real Estate and Home Staging (Keller Williams First Coast Realty - The Marro Team) over 5 years ago

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