By Dennis Wilson, Manager, Professional Standards
Some of you have been asking me, “Are you going to have another one of those Good, Bad and Ugly talks?” I don’t have any plans at the moment but here is a bit of a refresher for those who attended and some important tips for those that didn’t. All of the following are based on what I’m hearing from both members and the public on a daily basis right now.
Scenario A:
You’re a buyer’s agent and you call a seller’s agent to advise them you have an offer to present to their client. She says, “Sorry! The property’s been sold.”
My response:
The seller’s agent has a responsibility to inform their client about every offer until the real estate transaction has been completed. It is not acceptable for the seller’s agent to advise you that their client’s property has been sold and then not proceed to share the details of your offer with the seller if the transaction hasn’t been completed. (Rules of Cooperation 4.04)
Scenario B:
A seller’s agent tells you to send him your buyer’s offer so he can present the offer to the seller.
My response:
Every buyer’s agent has the right to be present when their client’s offer is being presented, unless the seller has specifically instructed their agent, in writing, to present all offers. If the seller has instructed their agent to have all offers presented by them, you can get a copy of those instructions. By the way, there are no rules that say you must disclose the details of your client’s offer by sending it to the seller’s agent in advance of the offer being presented. My advice – Deliver the offer to the seller’s agent in person when and where the offer is to be presented. (Rules of Cooperation 4.02)
Scenario C:
The “REALTOR® Comments” say, “Showings on Saturday and Sunday and offers on Sunday at 6 pm only.” You wait until Friday before calling to set up an appointment for a showing.
My response:
Despite the directions in the listing, you should always contact the seller’s agent right away to let them know that you would like to show their client’s property as soon as possible. By doing this, the seller’s agent is required to keep your name and contact information so they can advise you if an offer comes in during this “no show” period. The seller’s agent is also required to inform you of this before they present the offer to their client. (Rules of Cooperation 3.21)
Scenario D:
As a seller’s agent, you tell your client how you will be handling showings and offers.
My response:
As the seller’s agent, it is your duty to look after the interests of your client and also follow their legal instructions. You should not decide how showings or offers will be handled but rather discuss these details with your client and agree on the most beneficial ways to handle these important matters. If you and the seller agree to delay showings and/or offers, then you must be prepared to take notes on everyone who advises you they wish to show the property or have an offer to present. It is the seller agent’s responsibility to advise these buyer agents prior to presenting any offer. (Rules of Cooperation 3.21 & 4.02)
It is my hope that by sharing these common situations with you, I can help to reduce some of the frustration that you are currently experiencing. I also hope to cut down on the volume of calls to my office so I can get back to what I enjoy most – developing and promoting a high standard of professionalism in our profession.