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MARK SAVEL
Buzzer
reply 128 vote 21
 

Is it normal to ask for you offer back in multiples???

I had the strangest thing happen to me last night...

I was representing my the seller in a multiple offer.  We had two people bidding for the home, and ended up accepting the offer from couple/realtor B. After informing Realtor A that we weren't working with their offer, they demanded we give back their offer.

... is this the new norm? Anyone have any insight on why they'd ask for it back?
     
16
Toronto / Resale Discussions
 
 
 
JOSIE STERN
Buzzer
reply 92 vote 37
 
 
2 BEST REPLY
The percentage of agents who ask for their offers back are about 50/50. Some insist on offers being returned and some don't care. There is no RECO rule about this issue but I believe, for privacy purposes, agents should ask for the offers back. Every offer has the name of the buyers, deposit submitted, price offered, conditions etc which is all private information.
 
 
 
CARY CHAPNICK
Buzzer
reply 116 vote 12
 
 
1
yea i have had agents ask for it....maybe they wanted to make sure you didnt execute it if it was still live and the other people backed out etc.

proabably the agent was pissed at you because you werent working with him and it was a polite way of him telling you what he really wanted to tell you.
LOL
 
 
MATTHEW SLUTSKY
BuzzStaff
reply 1969 vote 68
 
 
1
Do you actually have to give it back? Could you ask him: Hey! What's the deal? I am happy to give you the offer back, but why???
 
 
ALLEN
Buzzer
reply 129 vote 34
 
 
At least they didn't ask for the few hours of their life back.
 
 
CARY CHAPNICK
Buzzer
reply 116 vote 12
 
 
i always give the offers back to people who lose in a bidding war. When we have 30 offers on a property on Brock last year i didnt keep 29 copies...LOL
 
 
CONDO CHRIS
Buzzer
reply 88 vote 43
 
 
1

Sorry, I just used your offer to wipe my ass... Stll want it?

 
 
CARY CHAPNICK
Buzzer
reply 116 vote 12
 
 
Chris you are amazing!!! LMFAO
your video on Open Houses was great as well....
 
 
MARK SAVEL
Buzzer
reply 128 vote 21
 
 
Great logical responses from @Cary Chapnick and @Josie Stern ... I guess my biggest reason for asking the question was to understand if I should be doing the same. 

As a habit I keep paper records and notes of pretty much EVERYTHING, so out of natural reaction I'd keep offers in tote until the deal firms up.  

Thanks for the responses guys!  
 
 
CARY CHAPNICK
Buzzer
reply 116 vote 12
 
 
1
Mark - i dont keep offers or ask for them back....on the other hand how does that agent know you didnt make a photocopy.....

as i am sure you know our business is full of all sort of types and tastes!
 
 
MARK SAVEL
Buzzer
reply 128 vote 21
 
 
@Cary Chapnick lol... I'm not saying I did photocopy, but I'm not saying I didn't either ;)
 
 
CARY CHAPNICK
Buzzer
reply 116 vote 12
 
 
i have had some agents ask for the offers immediately after they present....they dont let the thing out of their sight....i couldnt even get to the photocopier
 
 
AAREAS INTERACTIVE INC
Buzzer
reply 46 vote 1
 
 
People hand deliver offers? I fax/email everything.
 
 
CARY CHAPNICK
Buzzer
reply 116 vote 12
 
 
1
I never FAX or EMAIL offers AAREAS...i trained at a high end boutique brokerage in Toronto and the first thing my Broker ( who has 40+ years experience) told me was always PRESENT your offers....he felt faxing/emails makes you lose control as a buyer broker so unless the Vendor wont me meet I always present all my offers and go there to get deals done
 
 
AAREAS INTERACTIVE INC
Buzzer
reply 46 vote 1
 
 
To Be Fair, I (not repping aareas) only usually deal in commercial property.
 
 
CARY CHAPNICK
Buzzer
reply 116 vote 12
 
 
1
@Aareas Interactive Inc commercial is a different game -- way less emotion etc... no problems faxing/emailing but with residential i really think "presenting" is important
 
 
CONDO CHRIS
Buzzer
reply 88 vote 43
 
 
1
Pretty sure its illegal for agents to keep copies of deals. Even brokerage trade record files are to be destroyed after 2 years no? Cary would have a better idea of that.. As for presenting offers in person.. Some old-school agents practice NLP techniques to try to subliminally implant ideas on unsuspecting buyers so it is generally not a good idea to let agents present in person... If I am presenting in a multiple offer situation I can always tell if I have the best offer by obvious "tells" that both the agents and the sellers are exibiting because they usually wouldn't know a poker face to save their lives... There may be some advantages to presenting in person if you know what they are, but I make everybody fax me offers because it usually just comes down to numbers - not personalities.
 
 
 
 
 

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