News You Can Use - Friday
Real Estate News
And Advice


September 6, 2008
Find an Agent

Find a Home

Find an Apartment

Find a Mortgage

AGENT NEWS
INTERACTIVE

Should Buyers' Brokers Present Offers Directly to Sellers?
Posted By: Cecil G. Daniels - 09/13/2000

How would you feel if you were fighting a traffic ticket and your lawyer calls you the morning of the trial and advises you that s/he can’t appear at trail with you? Of course s/he has briefed the City attorney and assures you that your side will be presented to the judge.

What’s wrong with that picture? Would you agree that there is almost nothing good about it? Of course you would. Then why would any buyer's agent allow his or her client to be put in a similar situation? I'm talking about the presentation of the offer, when the listing agent directs the buyer's agent to drop the offer off at the office, and the listing agent will present it. There is an exact parallel between my example about fighting a traffic ticket and the buyer’s agent who relinquishes the offer to the listing side and says something to the effect of: "Let me know what happens."

This isn't a radical buyer broker's point of view; it is a concept of representation when it comes to presenting offers. Article 3.1 of the NAR Rules clearly provides for the right of the buyer’s broker to present the offer.

For the listing agent to present your offer is unfair to both the buyer and the seller. If the buyer's agent isn't present when the offer is made, an opportunity is lost forever to report back to the buyer what the seller's response was. If the listing agent's seller were to ask some pointed questions about the buyer or why the offer is structured the way it is, there are just two possible responses that the listing agent can make: 1.) lie to seller because the listing agent was not involved and had no direct contact with the buyer; or 2.) be honest and say, "I don’t know."

In either instance the listing agent may be falling way short of the reasonable expectations of the seller. When an listing agent forbids the buyer’s agent to present an offer, s/he may have acted outside of their authority granted by the seller. When the buyer’s agent arbitrarily turns the offer over, s/he too may have fallen short of the mark by not acting within a reasonable expectation of the buyer.

Isn’t it time that we drop these barriers and reach out to each other so the buyer and seller can get on with the buying and selling of property? Before I continued with the practice of interfering with the agenda of a buyer or seller, I might want to see how my E & O carrier feels about it. I would hate to have my carrier avoid a claim based on the fact that it concluded that my actions misrepresented my relationship to the buyer, seller or to the transaction.



Responses to this Article

Of course, the reverse should be true
Posted by: SteeleP - 09/13/2000 05:40 AM

We don't even SEE the Seller---or their Agent!
Posted by: Creative - 09/13/2000 11:51 AM

What a Bleak Picture
Posted by: Learn More - 09/14/2000 07:34 AM

Client waiting in Car?
Posted by: Creative - 09/14/2000 02:39 PM

confidentiality at risk?
Posted by: MBD - 09/16/2000 05:00 PM

A Positive Development ?
Posted by: Sam Valenti - 09/17/2000 08:55 PM

RE: Confidentiality Risk
Posted by: Creative - 09/18/2000 10:31 PM

Sounds like "Musical Chairs"
Posted by: Creative - 09/18/2000 10:46 PM

musical chairs 2
Posted by: MBD - 09/22/2000 08:00 AM

the real world
Posted by: MBD - 09/22/2000 08:18 AM

Fiduciary Duty
Posted by: mainerealtor - 09/24/2000 09:24 AM

A double-edged sword
Posted by: cmcmanus - 09/24/2000 04:19 PM

Presenting Offers
Posted by: AAkey - 11/03/2000 11:44 PM

Presenting Offers
Posted by: AAkey - 11/03/2000 11:45 PM

Realtor
Posted by: Angela - 11/04/2000 03:43 PM


Printer Friendly Version | E-mail This Article to a Friend


Copyright © 2008 Realty Times. All Rights Reserved.

Terms and Conditions | Privacy Policy | FAQ | Home


Powered By







Front Page Agent News Commercial News Interactive









Site Of The Day Movers and Shakers Companies Agent Advice Agent Concerns Seminars Product Announcements






Back Issues Full Text Search Contact Us Subscribe


  Site Map

  Newsletter Sign-up
  Subscriber Login

  
Put Realty Times Content On YOUR Web Site!