Many Home Buyers Are In Question Of The Offer Submitted To Buy. If A home Offer Has Been Promptly Submitted To The Seller. Legally And Per The Board Of Realtors Rules They State Following ; There has been a fluctuation of phone calls relating to the presentation of offers. Selling Agents (Buyers Agent Who Showed The Home Wrote The Offer) are calling to inquire about what can be done to confirm that their offer has been presented ( By The Listing Agent Who Has The Sign On The Property And Repesents The Seller ). Does the Listing Agent have an obligation to prove that the offer was presented to their Seller? The Code of Ethics does not require that the Listing Agent provide proof that the offer was presented. Although the Code of Ethics doesn’t require the Listing Agent to provide proof that the offer was presented, there is an obligation to present the offer to the Seller objectively and as quickly as possible. This obligation is addressed in Article 1, Standard of Practices 6 and 7.
As A Buyer Only Broker ( Exclusive Buyers Agent ) NAEBA chartered member comes with that title, otherwise agents are just a “ Buyers Agent”. A Buyers Agent is Buyers Agent Fifty Percent Of The Time And Listing Agent Fifty Percent Of The Time = Dual Agent.
The Last Thing A Home Buyer Needs Is A Dual Agent In A Trying Situation Buying A Home. Not To Know Whose Side An Agent Is Working On And The Part Time Service / Loyalty That Comes With Dual Agency Is Not What Home Buyer Needs To Contend With Right?
Home Buyers Need The Assurance An Exclusive Buyers Agent Gives Them, Since An EBA Will Not Ever Work With Sellers Or Carry Listings In Their Office. An EBA Speaks Louder Than Words In A Situation That Needs Full Time Attention And Tenacity In A Competative Market Condition, Which Spurs Incedents This Article Mentions.
There Are deadlines on a Offer To Purchase as that is why we have contracts, to put a limit on response time back. If a Listing Agent stalls and does not honor the deadline, my 28 years of experience is, they are stalling for a higher offer due to come in, or trying to “double end the commission” with a buyer of their own therefore performing an action of Dual Agency, stalling and stalling overall on other offerors.
The Offer technichally expires after the deadline, but buyers need an aggressive representative in their side to tackle these hurdles. The Listing Agent could care less in a scenario like this if the offer expires, they have so many other offers coming in during a Sellers Market Condition especially ( where there are more buyers looking at homes than listing inventory for sale on the market).
So home buyers, protect yourself with a representative that does not list homes or work for sellers in any capacity, so you know whose side of the fence they will always be on. NAEBA members like myself are Realtors Who took it an extra step higher believe in working for only one side of the real estate transaction full time. I can refer you if you need someone out of my service areas of Orange and San Diego Counties CA. Buyer’s Only Coastal Realty is always here to answer your questions and offers a private home search updates every fifteen minutes on our website. Sign up or contact me via the website and hope you found this blog helpful. As An EBA I Cover Many Cities And Know The Markst Conditions In Each, To Make Your Home Buying Experience Streamlined And Complete When It Comes To Finding The Right Location And Navigating All The Hurdles And Challenges That Come Up In The Home Buying Process. When I Write An Offer To Purchase For My Clients I Obtain An Answer Whatever It Takes. Anything Less Is Unacceptable. So Home Buyers Beware Thought Was Important To Share This Insight.