When you were shopping to buy a home, did your agent ever call to inform you that a seller wrote you an offer on their home? When you went to sell your home, did your listing agent assist you in writing a contract to a buyer who had seen your home? While this is a not a new practice, it is surprisingly uncommon, and an idea that is gaining steam in this buyer’s market.

At the zac team, our listing team has used this practice before to benefit our sellers and help get their homes sold. While it may be called a “seller-initiated offer,” a “preemptive offer,” or a “reverse offer,” the true question is this: how could this practice help benefit you as a buyer or a seller?

  1. Right away, a contract from a seller to a buyer generates immediate interest in the property and grabs the buyer’s attention. The lines of communication are open.
  2. To the buyer’s advantage, you can get a sneak peak into price and conditions that the seller is willing to negotiate – often slightly lower than the listed price of the home.
  3. To the seller’s advantage, you can propose a lowered price of your home without announcing it to the world in the Multiple Listing Service. You can also get the reaction of buyer to the seller’s terms and conditions to feel out what the market might be willing to give for your listing.
  4. By a listing agent making two or more offers to buyers who have seen their home for sale, they could potentially create a multiple offer situation for the seller.
  5. Getting off the fence! A reverse offer can help an indecisive buyer in making a decision about which home to buy. And shows the buyer that the seller is motivated to help get them into their new home.

As an agent, if you have a buyer who wants a home, but isn’t ready or too indecisive about making an offer or just downright scared as to what to do next, then maybe this is what the doctor ordered. Call the listing agent, explain the situation, and encourage them to convince the seller to write a reverse offer. Keep in mind, you may have to do a lot of explaining if the listing agent has no clue and can’t get past the idea that the buyer is the one who is supposed to make the offer. Once you coach the listing agent through it, then you will deal with the seller.

Reverse offers are definitely worth considering! If you have more questions about them or how they can benefit your specific situation, please give me a call at 404.564.7272 or email me, sold@zac.biz.