Practice Tip: Do not inform clients you have an accepted offer until you have it in writing

In this busy market or in any market, please do not inform a buyer that their offer has been accepted until you have all the required signatures and initials in writing on a Contract of Purchase and Sale. This will reduce the number of calls I receive from very upset clients and other REALTORS® if either party revokes the offer. What I would suggest is that you explain, prior to obtaining the required signatures that you have an understanding or a tentative agreement and you now need to get this in writing.

This Practice Tip was provided by Dennis Wilson, Manager, Professional Standards, FVREB.