Inna Ivchenko, Realtor® • GRI • HAFA • PSC Calabasas CA (Barcode Properties)

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Rainmaker
612,606
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

It's about time...

That will not eliminate the dishonest that will just initial the lie for the seller, but it will help.  It will put a crimp in those that hold good offers to get their own buyers lower offer accepted.

Besides, how many BA will actually "request in writing" and how many LA"s will flip out because they "never heard of it...

Eve

Jun 07, 2018 03:10 AM
Rainmaker
4,430,915
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I've had my suspicions as to whether offers were presented to a seller... I would support a required form that is signed off by the listing agent if not also their client. I don't love having to deal with extra forms, but too much abuse of the process in a hot market that we can't otherwise control.

Jun 07, 2018 03:56 AM
Rainmaker
745,592
Brian L. Sirota, Esq.
Bristar Realty (Realtor/Attorney) - Orange, CA
For Solutions: (714) 501-7660

WORDING OF THE RULE

It's precisely because the COE requires sellers to be notified of offers, under existing rules (as John Juarez points out), that listing agents must acknowledge their compliance if the buyer's agent requests it, unless the seller provides a written waiver of the requirement, per the new rule.

The confusion (as Ryan Huggins - Thousand Oaks, CA points out) is understandable.  A must rule mandates action, but making it conditioned by the word if can make the interpretation iffy, unless the word unless is used to create an exception to the rule.

Makes perfect sense.

Jun 07, 2018 05:18 PM
Rainmaker
599,680
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

It is often frustrating when our buyer's agents don't know if their offer was presented. Listing agents are required to do so, but we have never had verification required to certify that this was done. Good that there will be some changes to this.

Jun 07, 2018 10:53 AM
Rainmaker
1,424,650
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Ok, so it's an NAR thing not a state law thing.

 

I've only been asked for the initial on the rejected line twice in 4 years and never for the presented one.  I do so love their wording on this.

According to the letter of the code we are required to respond that an offer was submitted to the seller is the other agent requests, unless the seller provides written notice saying not to present it.

 

So, if an agent asks, the COE REQUIRES use to say it was presented... EVEN IF IT WASN'T!!!  Way to go NAR!!

Jun 07, 2018 09:43 AM
Ambassador
3,145,204
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I saw that on the CAR forms update webinar the other day. 

For all the work that a buyer and a buyers agent do just to submit an offer, I feel that seller acknowledging receipt of the offer is the very least the seller can do in exchange for the time and effort extended in submitting an offer.

I'd like to see the signed "rejection" be a mandatory requirement. There is no way of truly knowing if an offer is presented to a seller unless the seller signs acknowledging it was presented, and rejected.  I don't like the word "rejected" either. I've asked that it be changed to not accepted.

Jun 07, 2018 08:43 AM
Rainer
353,329
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

I appreciate some acknowledgement the offer was received and presented. I think it should be done in all instances, but it is not. 

It is not a hard process to check the box next to "Rejected" and sign on the line, but there are agents that can't afford that courtesy to people. I always require my seller to sign the rejection.

Like Candice A. Donofrio said, it is professionalism.

Jun 07, 2018 08:20 AM
Rainmaker
340,175
Mott Marvin Kornicki
Waterway Realtors® • Notary Public & Apostille - Sunny Isles, FL
Miami Notary & Apostille 786-229-7999

It's shameful that it has come down to this. ALL offers should be presented, and the cooperating agent should feel confident that it is so. 

Jun 07, 2018 08:17 AM
Rainer
87,920
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Yes, I believe it should be mandatory, why not? 

Jun 07, 2018 01:51 PM
Ambassador
2,604,443
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     I've had it happen.  Listing agent wanted both sides of the commission.  My Buyer called the Seller directly to find out why his offer was not countered, and found out his offer was never presented.  

Jun 07, 2018 08:19 AM
Rainmaker
1,346,119
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Good, I support that.

Jun 07, 2018 04:47 AM
Rainmaker
1,708,235
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Sounds like a good change.

Jun 07, 2018 03:59 AM
Ambassador
4,316,065
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Inna Ivchenko - I usually confirm the receipt of the offer from the buyer's agent. (And also, expect the listing agents to do the same with the offers from my buyers!)

Jun 06, 2018 11:29 PM
Ambassador
3,942,818
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

As a listing agent, I usually prefer calling and if I don't get an answer I leave a message!

Jun 06, 2018 10:58 PM
Rainmaker
5,579,046
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

it took long enough....

Jun 07, 2018 07:06 AM
Rainmaker
938,105
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I don't know if they should. But I do!
To me that's professionalism.
"Seller is in receipt of your offer."
Way too easy to not do.

Jun 07, 2018 06:23 AM
Rainmaker
711,284
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

In our AZ Commissioner's rules, a buyer-agent can request the signature & date from the seller as evidence that a offer was presented.

I support the change in the Code of Ethics.

I'm from the old school - nothing prevents a buyer-agent from presenting an offer directly to a seller as long as you copy the listing agent.

Jun 07, 2018 06:11 AM
Rainmaker
4,243,869
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Enforcement?  Penalties?  A good idea but I wonder. . .because I can and do. . .

Jun 07, 2018 06:04 AM
Rainmaker
2,683,552
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

In the world of doing whats right, this shouldn't have to be put into law. What this says is there is shenanigans afoot by agents. There shouldn't be!

Jun 07, 2018 06:03 AM
Rainmaker
6,961,853
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing this new requirement. 

Jun 07, 2018 05:47 AM
Rainmaker
3,070,784
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Should? yes. Do they? rarely

Jun 07, 2018 05:28 AM
Rainmaker
704,432
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Accountability is a good thing.

Jun 07, 2018 05:14 AM
Rainmaker
913,686
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

Its an idea, have the buyer sign all offers? 

Never was an issue for us here in CT though.

Jun 07, 2018 05:00 AM
Ambassador
4,509,199
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Why not make it mandatory, Inna. Add a line to the Offer that the sellers' agent submitted the Offer to them - no commitment on behalf of the sellers to respond further - just that YES they did receive the Offer. 

I think this, "he asked, she said" is just a step (a.k.a. delay) to the ultimate requirement (as above).

Why not just take it all the way and make everybody happy? Sellers will KNOW that they've received all Offers and buyers will be assured that the sellers did, indeed, see their Offer.

Jun 07, 2018 09:55 PM
Ambassador
3,070,956
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

oh I would have liked to have had that in places yesterday when I am suspicious that a listing agent shopped our offer. 

Jun 07, 2018 08:49 PM
Rainmaker
1,000,043
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

#1…I would never think of not presenting an offer to a seller. It is a basic requirement.

#2…I always notify the buyers’ agents of the receipt of their offers when received and the seller’s decision when it is made.

#3…if an agent lies about whether an offer has been presented, that same agent will be willing to sign or initial a form saying that the offer has been presented when it has not.

Jun 07, 2018 01:52 PM
Rainmaker
2,051,130
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

If I was in CA , I'd probably write across the first page REJECTED (have Sellers initial it) and scan it over .

Jun 07, 2018 09:45 AM
Rainmaker
1,759,139
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

That's probably a good idea. I consider an email appropriate & always do tell an agent that I've given it to the seller. 

I'm liking this change.

Jun 07, 2018 07:01 AM
Rainer
117,085
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

It makes common sense o keep eveyrone honest . we all know there are agents of ill repute out there...  I"m good with it. 

Jun 07, 2018 07:01 AM
Rainmaker
4,507,336
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It's a bit over reaching, but them again it is NAR!

Jun 07, 2018 05:13 AM
Rainmaker
2,099,747
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I think the best solution is to revoke licenses to unethical individuals

Jun 07, 2018 05:00 AM
Rainmaker
3,622,407
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Inna.

In some cases I would agree.  It does make one wonder, doesn't it?

Jun 07, 2018 03:12 AM
Ambassador
5,696,016
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

This might help part of the time.

Jun 07, 2018 09:42 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I believe it should, I always do

Jun 07, 2018 04:05 PM
Rainmaker
687,523
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

No, but it would be nice upon request.

Jun 07, 2018 11:23 AM
Rainmaker
536,307
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

No, but it's a good idea.

Jun 07, 2018 07:10 AM
Rainmaker
4,799,651
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

This might be a good idea.

Jun 07, 2018 05:45 AM
Rainmaker
4,298,366
Richard Weeks
Dallas, TX
REALTOR®, Broker

I think we would be better served if NAR concentrated on other issues.

Jun 07, 2018 05:24 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing 

Jun 07, 2018 04:24 AM
Ambassador
3,986,960
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I knew this change was coming and frankly it is said it has come to this that aggents have to be mandated that they submitted it. Many agents forget who they represent. My thinking is that these type agents will likely not tell the truth and only halfheartedly present an offer so nothing much will change.

Jun 12, 2018 07:56 PM
Rainmaker
5,261,301
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

In CO it is not required sadly, as think many listing agents never present all offers.  Some don't even respond to an offer.

Jun 10, 2018 11:51 AM
Rainer
44,791
Dan Capra
LAER Realty Partners - Lowell, MA
Listing/Buyer Agent

100% absolutely!!! this will get the slimeballs out of the business or they will start to play the game by the rules...

Jun 08, 2018 02:40 PM
Rainmaker
914,708
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

No. Too many buyer agents do nothing more that waste time and generate work by submitting 'Not a snowballs chance in Hell' offers from their 'investor types.' 

Instead, the INDUSTRY needs to embrace a more transparent methodology where the anonymous owner responds to every offer received from anonymous buyers. Perhaps a seller could impose condition such is any offer  below $$$ will be automatically rejected by the system and seller does/will not see it at all.

Seller responses could be:

1 Wait for response

2. Reviewed and your offer is # 23 in ranking. If you receive not further communication understand another offer was accepted. Now try submitting your real 'highest and best' within 4 hours.

3. Terms, price and /or conditions unacceptable. 

4. Rejected because you thought you could compel a response by 5 pm.

5. Drop dead.

Agents may be authorized by the seller to make responses based on written instructions of the seller.

NAR/CAR effort is just more of the same.

Transparency, such as that provided by open ledger systems is the answer.

Jun 07, 2018 02:16 PM
Rainmaker
5,767,371
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Inna,

I did not, and our reputations preceeded us.  

Jun 07, 2018 08:40 AM