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Why are most offers (in Greater Victoria) to Purchase Real Estate, presented by email of fax?

online successWhy are most offers (in Greater Victoria) to Purchase Real Estate, presented by email of fax?

 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) negotiateduring 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. laptop_realestateb

  • 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.  

So in answer to the Why we are using newer technologies and if these newer methods are appropriately Buying a houserepresent our clients?

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….Winking smile.  

 

 

 

Peter Pfann,

CPCA, ABR, SRES, E-Pro, IMSD, Master ASA, C-CREC, Associate Broker.

Text or Talk To Peter @: (1) 250 - 213 - 9490  

peterpfann@gmail.com  www.pfanntastic.com

Pfanntastic Properties in Victoria, BC, Canada, @ Fair  Realty Since 1986.

Regional office: 1540 Fort St Victoria, BC V8S 5J2

 

Comments

Hi Peter, This is a nice topic to bring up. Recently, I have found myself presenting offers by way of email, but I like to speak with my clients over the phone to answer their questions, and give my opinions on any offers. It all boils down to how well you can present it over the phone, and give your clients the same good service as if you were face to face with them.

Posted by Jerry Newman, Texas REALTOR, San Antonio Military Relocation (Brown Realty, 210-789-4216,www.JeremiahNewman.com) about 6 years ago

HI Jerry,

Very true, it is very much a matter of ensuring that you represent your client in the best available method, and preparing for a more diverse negotiation process is just part of the ever evolving skill set that bring to the table (real or virtual table that is).

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) about 6 years ago

12 years as an agent and I've never been part of a 'live' offer presentation by the buyer's agent. But I have had emailed offers presented well, and others not so well.  An emailed offer with no accompanying phone call is just weird to me, and might not even be noticed for several hours. That makes me think the agent is lazy and/or sloppy, and I am starting the relationship with a negative feeling.

Your post is timely for an area that is changing, other agents should take note of your points!

Posted by Joetta Fort, Independent Broker, Homes Denver to Boulder (The DiGiorgio Group) about 6 years ago

Hi Joetta,

Thanks for your feedback and kind comments

I always ask if I am the buyers agent, to present the offer in person.

If I am assisting the seller, I ask the seller what they prefer, and follow their direction.

I must admit, that I prefer it if the Buyer agent is able to present their offer in person (with my sellers approval), as the process seems to be more real and human, but I am totally comfortable with any of the methods I suggested in the body of this article.

Happy Negotiating....;)

 

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) about 6 years ago

Peter - call me old fashioned but personally I like to present to the seller on my buyers behalf every chance I get ..... there have been times when it made the difference between my buyer getting the home of their dreams over a competing offer .... even when the competing offers offered more money.

Posted by Kathy Clulow, Trusted For Experience - Respected For Results (RE/MAX All-Stars Realty Inc. Brokerage) about 6 years ago

Hi Kathy,

when possible I agree, the challenge is that acess to the parties is not as easy as it use to, so being skillful in alternate techniques is getting more important.

 

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) about 6 years ago

Hi Peter, when I first started in real estate in the 80s we always presented offers to the sellers and listing agent. They would excuse themselves and go to another room and discuss the contract offer. then come back in the room and provide me a counter. I would then go back to my buyers and start over agaim. Now days, we do everything by email or drop off the contract to the listing agent. 

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty) about 6 years ago

HI Rebecca,

Thank you, yes that sounds pretty much what happens in many areas that I have received feedback from here and from other places.

I do think that as a buyer agent, the onus is on that buyer agent to make every effort to find ways to make the presentation and negotiations as compelling, enticing and engaging as possible in order to make your case for the sellers consideration.

Happy Negotiating.

 

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) about 6 years ago

Peter - We post complete information about the listing and complete offer instructions in the MLS.  Receiving a complete, legible offer that doesn't require a counter offer just to "fix" Buyer Agent errors in the offer makes a great first impression with the Seller.

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 4 years ago

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