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Is it True a Sacramento Listing Agent Must Present all Offers?
An agent asked last week what he could do when a listing agent in Sacramento refused to present an offer to the seller. Well, he could print out a photo of that listing agent’s mug, draw devil horns on the head, tack the picture to a wall and throw darts at it. That’s one solution. He could also report the listing agent to the Board of Realtors and the Bureau of Real Estate. It’s a violation to withhold an offer. Listings agents are required to present all offers to the seller upon receipt or as reasonably as they can thereafter. It doesn’t matter if the home is already pending, either. An offer comes in, that purchase contract has gotta go to the seller.
A listing with an “active short contingent” status is especially suspect because that status, by its very nature, attracts offers. Agents who refuse to present offers or say no offers are accepted for an active short contingent status in MLS can find themselves fined by MLS as well for violating its guidelines. However, listings of any status are not exempt from a listing agent’s duty to present all offers.
It also doesn’t matter if the purchase offer is written on a roll of toilet paper, the listing agent must deliver the offer to the seller. Real estate agents don’t have the ethical nor legal right to decide which offers the seller gets to see and which can be withheld. Not our decision. But you’d be amazed at how many Sacramento listings agents don’t understand this simple procedure or were never informed of its necessity.
Something else some buyer’s agents don’t realize is the rejection on page 8 does not need to be initialed nor signed by the seller. It is not required. If the seller rejects the offer, no signature is necessary. The listing agent is not required to return a page that shows the seller has rejected the offer by an initial or other acknowledgement. It’s only a courtesy.
An email from the listing agent to the buyer’s agent detailing the outcome of the offer is sufficient. If buyer’s agents try to demand a written rejection by the seller, basically they’re saying a) they don’t understand how purchase contracts work, and b) they don’t trust the listing agent — neither of which is likely to endear them nor their buyers; it’s just stupid and insulting.
If you suspect an offer was not presented to the listing agent, the first step is to ask your buyer’s agent or manager to speak to the listing agent’s managing broker. Brokers are responsible for the actions of their agents. I’d say that most listing agents in Sacramento realize they must present all offers and comply. It’s unusual for the opposite to happen. But bottom line, if you’ve irritated the listing agent, it probably doesn’t really matter what else you do. A complaint will just bring personal satisfaction and help to raise the bar. It won’t get your offer accepted. That’s the real world part.
A Listing Agent Explains All Home Selling Steps
Sacramento real estate clients rely on their agents to explain what’s going on in a transaction and the next home selling steps, even if the clients appear knowledgable. Because an agent never wants to disappoint a client or fail to keep a client informed. Even at the risk of being overly simplistic, it’s important to communicate and inform. I realize that agents don’t want to insult their clients, but clients are insulted if they don’t understand, take your pick.
Not to mention, every home seller has her own perceptions about how she believes things work.
Earlier this week for example I was talking to a seller about putting a sign rider on the post outside that says: Don’t Disturb Occupant. I often put up sign riders like this on vacant homes to try to dissuade the thugs who break into them, but I also use those riders for occupied homes in some areas. The seller said she didn’t need that sign rider because if anybody approached her doorstep with evil intentions she would shoot them. This astonished me, mostly because the seller was old enough to be my great grandmother. I asked if she had a gun. Her response was yes, everybody has guns.
Well, no, I don’t own a gun.
Regardless of how many homes this seller might have sold in her life or how much she might know about home selling in Sacramento, I still explained every step of the transaction to her; fully cognizant that I may need to repeat the steps later on. I try to imagine what is likely to happen in a real estate sale and then I share that knowledge with my sellers.
One of the worst things that could happen to me as a real estate agent is to have a seller wonder what comes next and not know.
Well, I guess I could be shot.
Your Real Estate Problem is This Sacramento Agent’s Challenge
If you’ve got a problem with a home in Sacramento, come on over here and sit down next to me; I’m happy to talk about it. This is what I do all day long. As a busy Sacramento agent, I solve real estate puzzles and problems. I get to hear about some of the wildest situations, and I find a way to put the pieces together and close escrow.
It doesn’t matter what the problem is or the perception of that problem. I’m a good Sacramento agent to take care of it. Not every problem a seller perceives is actually a problem. Moreover, there is not much I haven’t run across or had to deal with in some form over the years, knock on wood. OK, I’ve never had to supervise the digging up of a grave in the front yard, so I suppose my time is coming. I’ve never had to drink milk directly from a pail toward which a cow’s udder was recently directed; oh, ick, I am such a city girl. There are few things, though, I have not done.
A few weeks ago I listed a home in Sacramento County that was pretty much trashed from one end to the other, and it was a big surprise for the sellers when they saw it. The tenant died in the house. But you know, the dude was watching one of his favorite programs on the TV Land channel: Bonanza, and he died peacefully in an overstuffed lounge chair. That’s not a bad a way to go; especially with everything being all right with Joe and Hoss on the Ponderosa. There were no cliff hangers on Bonanza. Every show neatly tidied up its drama. When I bite the dust, perhaps I’ll be watching Tattoo screaming: the plane, boss, the plane.
Another seller has a home with orange walls that I’m looking at later on this afternoon. My recommendation will be to paint the walls a light beige. Paint is kind of expensive when you figure it’s about $25 a can, and you need at least 2 cans of paint per room, but it’s the cheapest way to improve a home and get top dollar. You can also hire a pro for $300 to $500 per room.
There is the seller who had to turn off the water in his vacant home due to plumbing problems he couldn’t afford to fix, not to mention, the roof is beyond its end of life, and the payments are in arrears, have been in arrears for several years, but still, this might not be a short sale, and I am hopeful that I’ll find a first-time home buyer for this home in Elk Grove. I know other agents probably would not touch this listing with a 10-foot pole, but not me. I’ll take on the challenges.
The more challenges I solve and close, the better Sacramento agent I become. I’m still selling millions per month on average, even in today’s slower real estate market. You need a listing agent? You call Elizabeth Weintraub at 916 233 6759. I’ll be there.
Every Sale in Sacramento Real Estate is a Custom Sale
Selling Sacramento real estate is not a slam dunk like some in the public might perceive. I know there are sellers who believe all we agents have to do is stick a sign in the yard and the buyers will come, which is why some run out to get a real estate license. But after passing the exam, forking out several grand to get started and staring at a phone that doesn’t ring, new licensees soon figure out there is a lot more to it, and many fail.
Sellers and buyers are as different as night a day. The type of communication that works well for one client would make another want to shoot her agent in the head. On top of this, each home is different — yes, even the tract homes in Natomas and Elk Grove, which some people believe all look the same yet are not identical. There are small nuances that can produce variances in a sales price, and some not-so-subtle, including location.
I’ve had sellers ask me, what do we do if and when XYZ happens? They want to cross bridges twice when we might not have to cross them at all. What I might suggest in one situation is not the solution I might offer for a similar transaction. That’s because I think about it. I don’t simply react. There are no cookie-cutter solutions in Sacramento real estate. Every single sale is unique. I also surround myself with other professionals who are like-minded and apply a similar holistic approach. It’s not math and science, I can tell you that.
This is why my Sacramento real estate practice cannot be duplicated and, as a result, I am very selective when choosing my clients. My clients get an agent they can’t find elsewhere. A newspaper reporter asked last year where she could find an agent just like me in her part of the country, and I had no answer because I don’t know. You can’t take a form, ask questions, check off boxes and find the right agent. You have to use a combination of your brain and heart.
My goal with sellers is simple: get the home sold at the price the seller expects and close it. It’s an easy focus for me because I don’t let myself get distracted by the circus sideshows. I allow no room for prevarication in my business.
The first three weeks as a new listing on the Sacramento real estate market are crucial, no matter what. I prefer that my listings splash when they come on the market and make everybody at the pool turn their heads. If the home hasn’t sold after 30 days, it doesn’t mean there is something wrong with the price or the listing itself; but I do examine the surrounding market to find an explanation and then adjust for it.
Every listing I take in Sacramento is special. Every listing is custom. Every listing needs a buyer. My job is to find that buyer.
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There is a Buyer for Every Sacramento Home
In the mind of this Sacramento real estate agent, there are no bad homes to sell in Sacramento because there is a buyer for every Sacramento home. I have learned this the hard way over decades, and I’m sharing you the pain of wondering if your home will sell because it will. You just need the right buyer for it. There is a buyer for every home. Even homes that are in the wrong location or have some other sort of defect.
Now, an experienced real estate agent will figure out from the get-go who that buyer is and target that buyer. You don’t need 20 buyers for your home, and you don’t need 15 multiple offers. A seller needs that one buyer who wants the home and will close escrow at terms agreeable to both parties. It really is that simple. There is no need to complicate the situation.
For example, last week I listed a couple of homes that are very different from each other. One home is close to the Foothill Farms neighborhood, near Madison. The sellers were concerned that they needed to rip out the carpeting and replace it. They also were thinking about pulling off the wall the entire tub and shower combination and installing new. A cabinet drawer was not seated properly in the kitchen. That drawer was a concern for the sellers. I made my suggestions, which were minimal and probably not what I imagine the sellers were expecting to hear. I helped them to locate a couple contractors.
I also correctly identified who the buyer would be and, sure enough, that’s exactly who we are in escrow with today. I described that person to a T. That’s who bought it, too. And this is not a person I personally know, in case you’re wondering. This is what experience brings to my sellers. They can pay the same for a new agent as for an experienced agent, and experience tends to provide better results.
The other home was an astonishing disaster. Not at all what I had been expecting or what the sellers had imagined. They hadn’t seen the home in 25 years. It was, for lack of a better phrase, a shambles. But have no fear, there is a buyer for this kind of home, too. That buyer is a flipper, a person who will try to negotiate the lowest price possible to maximize future potential profit. I know the kind of buyer we’re dealing with, and we have a few of those buyers right now vying for this home. The right one will buy it. Because there is a buyer for every home.
