OfflineMy agent told me it takes two hours to put in an offer. It's probably a bit of an exaggeration and I don't know why he'd say that. I certainly don't want to tell a 30 year veteran how to do his job. But what does the agent have to do and what do I have to do to submit an offer in 10 minutes or less? I've heard about electronic signatures.
The current offer I'm working on is a Short Sale and it involves 9 contracts and 25 papers. Included is a property specific exclusive for this property. It is dated for one year which seems odd to me. I appreciate your feedback.
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Your agent said it takes 2 hours to put in an offer. What he(she) means is that he/she has to go through the correct protocol to make an offer. It is usually done by email. If a selling agent sends an offer to a listing agent, the listing agent still has to contact the owner to make the offer and then wait for an answer from the owner. Your agent is telling you that it cannot be done instantly. For a short sale, the agent is at the mercy of the bank that owns the property and we all know that a bank does not get in a hurry! Short sales are known for lots of paper work and lots of time involved! Hope this helps.
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Thank you. That does help clarify what the agent meant. We hear all the time that people like Matt Larson are able to submit offers in 10 minutes or less. Do you know how they do that? What would the agent and I have to do to make that possible?
You would have to have the experience and teamwork that Matt has!! Submitting the offer is nothing. You can do it in 1 minute!! But the acceptance of the offer and the paperwork involved cannot be done that quickly without an awesome team in place! I can only hope I would have that kind of team some day!
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
You say submitting an offer is nothing you can do it in 1 minute. Please elaborate on how I can submit an offer in 1 minute. Thank you.
Make Offers! Make Offers! Make Offers! is the chapter in one of Deans books where Matt Larson talks about this, I think it's in Profit From RE Right Now. Can't find my copy right now. It takes a little set-up with your agent. Write one offer the way you want it: EMD amount and time to be paid, % of market value, etc. to make a template, then your agent can just change the address and offer amount for each offer. All it takes is a not-lazy agent with an e-mail account.
Also, try SignNow (dot) com for electronic signatures. It's free.
I made an offer thru an agent over the phone once and he had the contract e-mailed back to me in about 5 minutes. It's really not hard. From the start of the phone call to the time the agent had the signed offer in his hands took 10 minutes. It took 3 days to hear back from the seller, but making the offer took 10 minutes.
A Short Sale could take months and you're MUCH better off having a pro negotiator deal with the bank if the sale price isn't already approved. I just found one yesterday but haven't had a chance to talk to him on the phone yet. PM me if you'd like his contact info.
"The harder you work, the luckier you get." -Gary Player
Depending on the deal it can take quite a bit of time to put an offer together. There may be specific addendums that the seller or bank wants submitted, there may be clauses and offer packets that vary by bank and even by branch at times. Ur agent may have to register with a bank or government website in order to submit ur offer. The easiest ones are as Erik said, simple and done with a template. But thats AFTER u have ur team in place, u give them the green-light to use such a template, and assuming there are no special provisions. U shouldnt be in a rush to submit offers until u know they are being done correctly. Did u fill in every blank? Did u double check ur numbers and concession requests? Do u have all of the needed forms? For some people (mostly experienced, with a great team backing them) it is an issue of speed... but for most, it should be about accuracy.
Monica
Skeptic, turned hopeful, turned determined!
You will NEVER succeed if you don't try.