Y’all, I get it. This market is crazy for buyers and their agents. Multiple offers. Trying to get into new listings on the first day and being blocked out of appointments by other agents that are stalking the MLS 24/7. Houses being sold sight unseen before your buyer even has a shot at them.
It’s frustrating, for sure.
But it’s not a reason to cut corners or drop your due diligence.
Reading property disclosures is a part of your buyer’s due diligence and part of your responsibility to your buyers, so I’ve got some advice for you.
Don’t submit offers without reading the property disclosures first
Why is this important? Because many of the questions that listing agents are getting (if you can get them on the phone) can be answered by reading the disclosures and checking the agent remarks on the MLS.
I can’t tell you how many complaints I’ve heard from listing agents because buyer agents aren’t reading all of the information that’s being provided to them. If you come across as someone who cuts corners or can’t be bothered with the details, that’s not going to make working a transaction with you appealing to a listing agent who is likely juggling multiple contracts on that property.
Don’t submit offers without having buyers read and sign the property disclosures first
This is super important, people! Why? Because buyers have the right to terminate a contract or withdraw their offer for up to 72 hours after receiving the property disclosure. A good listing agent will make this a requirement before accepting an offer because their duty is to the seller and ensuring that offers are real.
Remember that part of the contract that says the offer is being made based on the apparent condition of the property? (That’s line 161-166 for you nerds in the bunch)
The disclosures influence this as well. If you didn’t read the part where it says the roof is 20 years old or that there’s no homestead exemption in place or that the property is in an AE flood zone or….well, any other number of things that would influence your buyer’s offer, you’re dropping the ball on educating your client and helping them write the strongest contract possible.
The market will shift eventually. Being the agent that knows how to help your clients, knows how to prep them to make strong offers, and knows how to give a listing agent everything they need to choose your offer will be invaluable to your long term success.