Getting Real Estate Agents to present your offer?

Getting Real Estate Agents to present your offer?

I recently submitted several offers to a Real Estate Agent on properties she had emailed to me. They were an offer only (not an agreement to purchase). She stated that the offers could not be presented because: 1. My offer required earnest money, 2. My offer needed a pre-approval letter from the bank, 3. My offer needed proof of funds, and 4. My offer must be on their SPECIAL FORMS. How can I get her to understand that this preliminary procedure is done prior to a formal agreement to purchase.. And that the requested information will be part of the purchase agreement on the offers accepted.


Walter E. Hogan


I am was thinking the same thing. How can an agent present your offer without proof?

Getting Real Estate Agents to present your offer?

I have a really great real estate agent that I found. He is a guy that I knew who was beginning a second career so he is really eager to help me out! He and I are learning together but the office manager who is his boss is really knowledgeable and has checked out everything that we do to make sure we are doing things right. My first offer was on the Realtor's standard sales agreement form however all that I needed was a preapproval from the bank via telephone and that was easy. I wrote a check for $1,000 which I told my Realtor that if my offer was accepted that i would need to exchange my check for one that actually was backed by money, I wrote a check off an old line of credit that we had. It didn't really matter anyway because if the offer was accepted I would have payed the earnest money but it wasn't so the deal was dead, on to the next one.


If these are REO properties, there really isn't a preliminary procedure.
The banks want the RE contract, Proof of Funds, & Earnest money deposit. We've had some banks ask for $ 5 K. I try to get the bank to agree to wait for
the deposit until after the inspection period, but it can be difficult. Their
special forms can be the banks adeniums, but they usually don't require signatures until after the offer is accepted. The reason for this is that banks don't allow assignments, so this way the paperwork is for you the end buyer. This does make it difficult to make 20 offers, especially if they want
$1000 or $2000 per offer. That's why you must build a repor with the REA, so they will submit contracts without checks, then if the bank agrees, you cut a check.

Proof of funds (POF)

My REA is also telling me i can't make any offers w/o a POF. This is a wall for me at this point. No offers ,No money. Can someone enlighten me ? I've got 11 homes in 2 tracks and want badley to do my first deal HELPMEWIN

Help me win

Getting POF is easy. find an investor or someone that will lend you money. You can buy houses with other peoples money and credit. You have to think out side the box. Most realtor who have worked throught the boom times do not know how to be creative.
Depending on price of house you could borrow smaller increments of money say 5,000 at a time from a number of people.For your 1st purchase. Remember banks are giving 1.5 to 2% interest for money markets. Offer 10% on there money secured by the real estate.
I was in Borders yesterday and found a book on financing real estate 45 different ways to do it.
You also need to find a Realtor that will show you how to make deals not tell you what you can't do. Its much easier to work with someone willing to help you. It very clear to me when someone tells me what I can't do, they do not know what can or should be done.
If you paid and attorney for advise you would be paying for a professional to guide you through the process, correct. The same principle should apply with Realtors. Don't allow someone to be paid if they don't know what there doing.
Last but not least. The person who asks the most questions in your meeting is the one in control. The person being asked has to find the answers. Who's working for who's. Don't let the tail (realtor) wag the dog (you)Old saying in Connecticut.

Good Luck

More on Offers

Here is a thought! Pursue homeowners themselves that do not have their property listed with an agent! FSBOs, Pre foreclosures, tired landlords, probate and absentee owners. You can use a very simple contract to lock them up and as little earnest as $10! Make the contract assignable and assign it to a buyer from your buyers list.

Good Luck!
Michael Mangham
MD Home Acquisitions LLC


Knowledge is power, but execution trumps knowledge. Tony Robbins Seller site Buyer site Bird Dog Site Tenant/Buyer site

Syndicate content