The vendor did not have to accept the agreement, which clearly stated payment of commission on
presentation of an offer at the full listing price.
While it is possible that your state license law may
limit presentation of offers to written offers, the Code does not make that distinction.
In its
official presentation of the offer, Teva argued that its proposed deal was a «superior alternative» to Mylan's own unsolicited attempt to buy Irish pharma firm Perrigo (PRGO) for $ 29 billion, announced earlier this month.
REALTOR ® A also complained that the language of the deposit receipt was so phrased as to
make presentation of the offer conditioned upon REALTOR ® A's agreement to pay a larger subagency commission than he had offered through the MLS.
To the kitchen table and the
actual presentation of the offer, where the attentive sellers hang on your every word and you can see they are more than pleased and haven't raised any objections along the way.
However, if the seller decides to have a
group presentation of offers, you'll either have to withdraw your offer or revoke the confidentiality agreement.
Sorry Marty, on your first topic —
personal presentation of offers by the buyer's agent to the seller together with the seller's agent — times have changed.
Concentrate on setting procedures for the completeness of listing materials, the prompt submission of the listing to the MLS with a correct identification of the nature of the agency relationship, and the
timely presentation of offers and counteroffers.
And because Standards of Practice 1 - 6 and 1 - 7 do not
limit presentation of offers to those in writing, my conclusion is that all offers must be submitted — whether in writing or in the spoken word — but the fact that an offer is done verbally is not a violation of the Code.
Even if the listing agent had stipulated in the listing contract that all offers must be accompanied with proof of the buyer's financial ability to complete the transaction, it would still create the potential for delay in
the presentation of offers.
When I receive offers on my listings, I offer each buyer agent the opportunity to be at
the presentation of the offer (Through MLS rules).
MLS Policy Statement 7.73 provides that «Cooperating participants or their representatives have the right to participate in
the presentation of any offer they secure to purchase or lease to the seller or lessor.
Delaying
the presentation of an offer could breach a broker's fiduciary duty under the listing agreement.
Re: My suggestion is to add a provision in the proposed amendment, that all offers on a property listed by a brokerage must be presented by the listing broker or they must be responsible for the co-ordination of
the presentation of offers to the seller.
It is obvious of course that a would be buyer in a multiple offer situation, of their own accord could hire «The real estate advocate» to advise prior to
presentation of his offer, during or after.
The identity of the registrant salesperson / broker or Brokerage prior to
presentation of offers should not be disclosed as that would invite interference or collusion.
The presentation of offers is one of the ways in which a listing agent «protects and promotes» the interests of the seller, so the agent should take instructions from the seller on how the offer is presented.
Even if the listing agent had stipulated in the listing contract that all offers must be accompanied with proof of the buyer's financial ability to complete the transaction, it would still create the potential for delay in
the presentation of offers.
Answer: Standard of Practice 1 - 6 speaks directly to the timing of
the presentation of an offer.
A. Changing the compensation offered through the MLS during
the presentation of an offer constitutes a violation of Article 3 of the Code of Ethics.
Today, all of the real estate Association's «Code of Ethics» clearly state that not only is any member of the public dealing in Real Estate entitled to a choice of representation but in all cases the Agency's who are involved in the transaction must disclose whom they are working for and have written acknowledgement by all of the parties prior to
presentation of any offers.
A Real Estate Professional will personally represent you during
the presentation of the offer.
If you have any needed major repairs, this should be known ahead of time and disclosed to any prospective Buyers prior to
the presentation of their offer.