What's up with the sites that won't present the offer to the seller?

ILoveMyDVC

DIS Veteran
Joined
Aug 24, 2000
I've now encountered two sites that refuse to present the offer to the seller because they place the listing for several days to collect as a many offers as possible. Leaves all the burden on the buyer. In both cases, the subject was OKW Extended.

Just sharing.
 

JETSDAD

DIS Veteran
Joined
Jan 7, 2016
It's just like any other real estate. We set offer dates with written direction from sellers and offers are only presented at that point. I don't know what is being signed or what the seller has agreed to but in a hot market like DVC resale has right now it's probably a smart move on the part of sellers.
 

CarolMN

DVC Co-Moderator
Moderator
Joined
Aug 18, 1999
It may be that the sellers have instructed the broker to present only full price offers.

My advice is to make your offer with an expiration date attached and move on if it is not presented or time expires.
 

we"reofftoneverland

DIS Veteran
Joined
Aug 5, 2015
It doesn’t help the seller. I definitely think some agents are less than professional and are trying to make themselves more important to the process than they actually are. All the seller has to say is yes, no or maybe. If I were selling I would want to know about every offer that comes in as it comes in.
 

JETSDAD

DIS Veteran
Joined
Jan 7, 2016
It doesn’t help the seller. I definitely think some agents are less than professional and are trying to make themselves more important to the process than they actually are. All the seller has to say is yes, no or maybe. If I were selling I would want to know about every offer that comes in as it comes in.
It certainly can help sellers if you can create a multiple offer scenario with offers potentially over list.
 

JETSDAD

DIS Veteran
Joined
Jan 7, 2016
It doesn’t help the seller not to hear about offers. It just keeps them in the dark. The agent could be manipulating things to only sell to certain people or friends etc. It is unprofessional.
It's not unprofessional, it's a discussion had with a seller in advance and their direction is then followed. All the offers are then presented on the offer date. I can give many real life examples of how this works out in the sellers' favour. You may not like it as a buyer but that doesn't make it unprofessional.
 

davidl81

Mouseketeer
Joined
Aug 12, 2008
It's not unprofessional, it's a discussion had with a seller in advance and their direction is then followed. All the offers are then presented on the offer date. I can give many real life examples of how this works out in the sellers' favour. You may not like it as a buyer but that doesn't make it unprofessional.
I think that is a very valid point Jet. The agent knows if the listing is "hot" or "cold". If it is a hot listing there is no point presenting every offer right away to the seller. It's best to wait a week or two and see what the best offers are. BY the same token if the listing has gone a set period of time with no activity I'm sure that any offer is much more likely to be presented to a seller. Right now is a seller's market and the terms are going to be more favorable to them than at other times.
 

we"reofftoneverland

DIS Veteran
Joined
Aug 5, 2015
It's not unprofessional, it's a discussion had with a seller in advance and their direction is then followed. All the offers are then presented on the offer date. I can give many real life examples of how this works out in the sellers' favour. You may not like it as a buyer but that doesn't make it unprofessional.
We will just have to agree to disagree. As a seller I want all offers presented to me as they come in. I don’t like to be played. I am an adult and can make my own decisions.
 

Sandisw

DVC Forums
Moderator
Joined
Nov 15, 2008
We will just have to agree to disagree. As a seller I want all offers presented to me as they come in. I don’t like to be played. I am an adult and can make my own decisions.
I think any broker would follow those directions. My guess is what is happening is that the brokers may be sharing with owners that it is a sellers market and that it could be advantageous to set it up as a taking all offers until X and then decide

As long as it’s what is agreed to by the seller, then I don’t see it as wrong. However, as a buyer, I can say I’d pass on any contract that had this as a process.
 

ILoveMyDVC

DIS Veteran
Joined
Aug 24, 2000
It doesn’t help the seller. I definitely think some agents are less than professional and are trying to make themselves more important to the process than they actually are. All the seller has to say is yes, no or maybe. If I were selling I would want to know about every offer that comes in as it comes in.
Me, too
 

davidl81

Mouseketeer
Joined
Aug 12, 2008
If you have ever sold a home in a true sellers market you would think differently. You want to wait a set period of time for multiple offers to come in so you can pick the best one. There is no point in getting one at a time if you are getting 3-4 a day. Just wait a week and review all 20ish and pick the best one. Clearly things work in total reverse in a buyers market.
 

ILoveMyDVC

DIS Veteran
Joined
Aug 24, 2000
If you have ever sold a home in a true sellers market you would think differently. You want to wait a set period of time for multiple offers to come in so you can pick the best one. There is no point in getting one at a time if you are getting 3-4 a day. Just wait a week and review all 20ish and pick the best one. Clearly things work in total reverse in a buyers market.
I moved on and bought another contract. Game playing isn't my thing. The contract I wanted orignally is still for sale.
 

MonaMN

DIS Veteran
Joined
Nov 21, 2014
I know someone who got over 40 offers on their house over the weekend; their agent presented them with the best offers for decision.

This seems similar to me. Set the parameters/timing, then narrow down to the best offers for the seller to review. Not that the seller couldn’t look at all of them, but why would they want to?
 

davidl81

Mouseketeer
Joined
Aug 12, 2008
I moved on and bought another contract. Game playing isn't my thing. The contract I wanted orignally is still for sale.
But you are looking at this from the buyers perspective. The seller will highly likely get more than you offered for the property by just waiting to get a bunch of offers. I don’t fault you for buying something different of course, but I also don’t fault a seller for being patient and getting the best offer they can get.
 

we"reofftoneverland

DIS Veteran
Joined
Aug 5, 2015
This move by a couple of resale agencies to try to control the market has nothing to do with the sellers market. It is the agents who are desperate. Three years ago there were only 3 main agencies with a couple of other scattered players. Now there are many more agencies and agents flooding the market. When I type in dvc resales I get pages of people trying to make a living selling dvc resale. The agents not presenting offers are trying to control sellers. They are trying to keep them from listing elsewhere. A seller is perfectly capable of not responding to an offer for a couple of days to see if others come in should they so desire.

As an aside, OKW extended is not a hot commodity. Lol.
 

KAT4DISNEY

Glad to be a test subject
Joined
Mar 17, 2008
It doesn’t help the seller. I definitely think some agents are less than professional and are trying to make themselves more important to the process than they actually are. All the seller has to say is yes, no or maybe. If I were selling I would want to know about every offer that comes in as it comes in.
It's a change from the "transactional broker" that they used to be for sure. There is one now large market share company that was the 1st I recall to really see do this early when they came into the market. Sounds like it's becoming common with more and more and makes them less transactional and more traditional.
 

we"reofftoneverland

DIS Veteran
Joined
Aug 5, 2015
It's a change from the "transactional broker" that they used to be for sure. There is one now large market share company that was the 1st I recall to really see do this early when they came into the market. Sounds like it's becoming common with more and more and makes them less transactional and more traditional.
And sellers are voting with their feet. I have been watching this, and the “main” resale agencies who tend to engage in these “control” practices have less and less in terms of listings, whereas agents I once thought of as more fringe, in addition to entirely new individual agents, have many more contracts. I think these “original” agencies are in panic mode. But they don’t seem to get that people don’t like to be treated like children. It’s not rocket science.
 

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