It can be common in the Silicon Valley real estate market to have a property go live on the MLS mid-week, then hold one or two open houses the following weekend, and then look at any and all offers during the following week. This supply in our market just moves this fast... and some agents are having trouble keeping up.
I received a message today (Monday) from an agent that was holding an open house for one of my Los Altos properties for sale after finding out that the offer deadline was set for Wednesday morning, “Alex, you and your time for offers is not fair. Disclosures on Monday and little time to work with buyers and offers due Wednesday morning. Buyers work and so do we.”
This type of message really rubs me the wrong way, so hence my rant.
“Do not accuse anyone for no reason-- when they have done you no harm.”
- Proverbs 3:30
Having an accusatory tone with someone is just not the right way to start off a conversation. Especially if the agent you are speaking to is the one who gave you the opportunity to hold their open house to meet buyers and sellers to help your business. Ask politely for an extension if need be but don’t bite the hand that feeds you by pointing fingers.
"Life is never fair, and perhaps it is a good thing for most of us that it is not."
- Oscar Wilde
Fair? Agents, please spend time to find out more information before taking any sort of action. My seller actually received a pre-emptive offer on the property on Sunday. Rather than responding right away to the buyer’s offer, decided to review offers on Wednesday which would allow all interested parties two full days to properly read and approve all of the inspections and disclosures and formulate their best offer.
Real Estate is a Need for Speed Business. Little time? If you can not work with your clients to write up a good offer in two days, then you and your buyers are in trouble. Either they are not serious buyers or you are going to be extinct real soon. I know this sounds harsh, but real estate is such a ‘need for speed’ business and there are ton of productivity tools out there for real estate agents (Google for Work, Evernote, Docusign) to be able to move faster and work more effectively. Become efficient or become extinct.
“Things may come to those who wait, but only the things left by those who hustle.” - Abraham Lincoln
“Buyers work and so do we”… this line was the funniest line. You’ve been given a deadline, so stop complaining and go to work, do your job, and help place your buyer in the best position to buy the house.