Most agents have been there: Multiple offers on a home priced for competition. To earn your sellers the best possible price and ensure all interested parties get a fair shot at the property, you reach out to each buyer’s agent only to find out one (or more) of them has disappeared from the face of the earth. What’s an agent to do?
Real estate agent selling tips point to maintaining the REALTOR® Code of Ethics in not stepping over the line as a dual agent… Could there be a way to handle the situation fairly and ethically?
Working within the code
Even buyers who have submitted significantly lower offers than other parties may want another shot. Should you sidestep the buyer’s agent entirely? No, but that doesn’t mean you have to throw in the towel. If you have contact information for the interested party whose agent has temporarily vanished, try these real estate agent selling tips:
• Proceed with caution…
The Code of Ethics generally cautions against interference with fellow realtors.
• Confirm or deny…
If you cannot reach the buyer’s agent and time is of the essence, contact the potential buyer with Article 16 in mind, asking the client to confirm or deny whether or not they have signed an exclusive agreement with that agent. If the potential buyer says yes, it is unethical to push further.
If there is no exclusivity agreement, inform the potential buyer of the situation, asking them to contact their agent and get them back on board for submitting a higher offer. Technology like Skype and teleconferencing are great, allowing you to discuss the merits of a higher offer (minimal monthly mortgage increase, etc.).