Recently I saw this (slightly amended) question posted on LinkedIn in a group named Canadian Real Estate Referral Network, and it did inspire me to try to seek some understanding for this growing trend locally and how we “the REALTORS®” adopt to this relatively new reality and ensure we represent our clients appropriately.
A secondary question was inserted in the LinkedIn posting stating “How can that be working in the Best Interest of the Buyer Client?” (that being the presentation of offers by fax or email.)
Although I am not totally certain that “most” offers are presented by fax or email all over Canada or even Greater Victoria, using fax or email to present offers has certainly become very common in Greater Victoria over the past few years.
Clearly the potential does exists that using fax or email to (re)present offers and negotiations can have a negative impact/outcome for the buyer (or seller) if done poorly. However, poorly presented or negotiated offers in person will equally result in undesired results….
In the mind of most Master Negotiators; Negotiations are a Process, not an Event….!
In the past the process of Offer Presentation typically involved a meeting between the Seller(s), The REALTOR® for the seller and the REALTOR® for the Buyer(s) during which the buyer’s agent would present their clients offer in person and provide context, answer questions, give some back-ground about the buyers, the offer and the reasons/ perspective why the buyer’s offer is as is and represents good value to the seller.
Typically after such in person presentation, the seller(s) and or the REALTOR® for the seller would ask for the REALTOR® for the buyer to excuse him/herself, so that the seller(s) and their agent would be able to review and discuss their response to the offer.
After this initial meeting and presentation, it was (at least for the past few year) common for the agents to then either meet in person, by phone and or use fax and or email to continue the communication and negotiations…
The current trend for the agents and seller to not meet at all anymore has a variety of reasons, but its reality does require both the agents for the buyers as well as the agents for the sellers to improve their ability to communicate, negotiate, understand and implement how to best represent and achieve the desired results for their clients.
It clearly does not suffice to just forward the written offer, without much of an explanation to accompany the offer. This would not only not (in my opinion) represent the buyer very well. In fact it makes the entire negotiation process much more complicated for the seller(s) and their agent as well.
In order to properly represent our clients (regardless if they are buyers or sellers) it is essential to always enhance our skills and ability to do so. Negotiating is very much one of the essential skills and services we as REALTORS® provide for our clients.
Now that the traditional methods as outlined above, may be going out of style (for the moment), let me suggest a few presentation/negotiation methods that could/should be considered in order to ensure our clients are well served and represented.
- Detailed “written” presentation, supported with all the facts, details, evaluation, logical and emotional reasons for the offer, the terms and condition
- A personal handwritten letter (with photo) from the buyer(s), expressing their appreciation for the home and other possible personal notes.
- Recorded (Audio and or Video) presentation, supported with the above.
- Skype “live” presentation
- Conference call
- Record a “live” presentation to the Sellers Agent
- Video Conference
- A combination of any or all of the above.
The objective of Real Estate Negotiations is to reach satisfactory written agreements between the principals, that are legal and enforceable.
It is our job to ensure we appropriately assist, support and enable the creation of these written agreements, the method in which we do so has evolved over the decades, and will continue to do so for many years to come.
The Process of Presenting and Negotiations is always changing, and it is part of REALTORS® essential skills, to ensure that they use the best available skills and methods to ensure that they represent their clients to the best of their ability.
Who knows where the future will lead us in how we (The REALTORS®) will continue to best serve our clients, with their Greater Victoria Real Estate Offer Presentations and Negotiations, but I am pretty sure that technology will continue to be an ever increasing part of it.
By the way, we have not used or abused any email or fax machines in the creation of this presentation…..