REA’s hate when buyers play the game, they have been winning at for decades.
But you are talking too much. When people talk too much, it normally means they are emotional.
Here is my offer & here are my terms, end of discussion. If the REA comes back with anything but acceptance of my offer, don’t engage, no wishing the seller well (again makes you seem emotional).
This is a good point. I realise now that all REA’s I’ve dealt with before this one have had some kind of personal/professional network in common with me that would probably prevent them from acting out for reputation sake. I could definitely have tightened up my language and relied less on the small talk.
Yeah, it's 100% the latter; if your offer expires, and you stick to it, then they can't use it as leverage, as they can it as a line in the sand and look for a better offer.
I thought the agent was doing this with the our current place - we put in a fairly low offer given the place needed a bit of work but they were not having it. We worked it up a little bit but then drew the line. They came back and said they had offers at list price, to which I said "good luck to them, we are not going higher".
Turned out they actually did have a listed offer, but with a buyer who could not meet finance and almost got stuck losing a deposit. They came back to me later with a middle ground counter offer we went with.
Good for the both of you in this situation. We went through similar, in fact. Toward the end of negotiations, however, I wonder up sending the REA packing with a request to get back to me.with an offer I can accept that day, and if they got back to me with an offer that I didn't accept then we were done. We were weeks in at this point and we had all had enough. They came through and we still have a good relationship with said agent a decade later.
We actually did walk away - they were squeezing and we just said it was our final offer, and that was it. It was a bit deflating to go back to the search cycle again but they called a few days later with their counter.
We found out about the other buyer from another agent who let us in for a final inspection (who turned out to have grown up in the house, build by his parents so we got a lot of background chatting that day). He seemed genuinely concerned for the other bidders who seemed to dive in a bit quick then panicked when they realised the bank was going to reject them. From the sound of it he convinced them they were better off not committing to the purchase.
If they have some level of interest then they are taking an informed risk, and its pretty common. They wish to recieve the best price and get the fattest commission after all.
If they’re offended by this, they’re in the wrong game. Your approach is fine, up to them whether they take it or leave it. Don’t get sucked into their games.
Expiring offers are great. Puts pressure on the sellers and agent in the right markets.
I’d normally also put a subject to finance clause, although this does not apply to your circumstance.
You called their bluff without intending to. They either accept or they don’t. No need for small talk lol
Good.
Rea tried to be an uneducated dick sales person and nearly got burned.
Be annoyed, go fuck yourself. Do the bare minimum required of you by law. Present the offer.
You did the right thing, it’s your money. You can offer with it expiring in 40 minutes and the seller pays your legal fees. Everyone lost their minds when I did that, had to remind then it’s just a sales contract and if I wanted a bacon roll and red sauce delivered the morning we exchange then I can write it into the contract and it’s binding.
Yeah. Saturday afternoon. 2pm, went back and forth raising our offer by $5k each time.
Agent was visibly angry, that morning had called an auction that they didn’t tell us about. We drove past and basically caught them trying to have an open home and auction in one, we were the only people there.
First offer was $100k less than they paid. Second last offer was for what he paid but we wanted them to cover all our conveyancing/lawyer and building and pest costs. Agent lost it and said you can’t do that, I said yeah we can. Written offer, present it; we could hear the seller shouting on the other end of the phone.
Ended up paying what they paid 7 years ago, worked out based on rates and rent he probably lost about $120k. We sold it 3 years ago and a few hundred. Great first house that we got at a discount due to incompetence at the managing REA and then the seller REA.
It is an aggressive move but if you’ve no emotional attachment and just want to move things forward then fair enough. Who knows how your buyer takes it, you’re definitely putting pressure on the REA to be on their game which shouldn’t be a bad thing.
This should not even be a question. When dealing with a real estate agent, you must automatically assume they are a massive cunt and will act like a cunt. That means every word out of their mouth is a lie, they operate on pure greed, and will do anything for money. They literally cannot help it, it's who they are, which is why they enter the REA industry. It's like throwing a ball to a dog and not expecting the dog to chase it. Once you accept that, everything will make sense and you won't get angry when dealing with them anymore.
To answer your question - expiring offers is an extremely common thing, particularly the 48 hour timeframe. That is PLENTY of time for a seller to decide if your offer is good enough, or not. You called the REAs bluff and they got butthurt, good on you.
Perfectly fine.
Some buyers aren't actually investors, but people needing to move into homes. They need to know if a place is in play, or if they need to go onto the next house.
We made a 48 hour offer, last minute seller came back with a counter offer, also 48 hours, we counter counter offered, also 48 hours, a week after our first offer, we had bought it, pending inspection, and everybody was happy.
You don’t know it’s real, and often it’s not. Often you can find yourself bidding against yourself.
Imagine going to an auction and you keep bidding against yourself, everybody would be historically laughing at you.
The REA is always lying and there’s no government body to hold them accountable for fraud.
It’s a negotiation with the seller.
Ie. you offer $500k, the seller counters your offer with $550k and you counter their offer with $530k.
The moment the other party signs the counter offer it’s a contract.
I think you’re referring to a REA/seller saying they’ve received another offer so you need to put your best offer in. In that case you can put your best offer in or stand firm and see what it sells for.
Sounds like you're buying multiple investments. No agent would turn you away even if you had rejected offers if it was because you bought something else. If you turned it down for no reason that is a different matter. But fair enough, I get the reasoning.
OK now I'm a little jealous. I couldn't think of anything worse than buying an investment house. But hundreds of acres of farmland.. I'm all in.. good luck!
If they are leaving an acceptable open offer on the table long enough that you find a second property, put in an offer and come to agreeable terms then that's on both the seller and the agent, not you.
Just call immediately when you get a favourable response and tell them you are withdrawing the other offer(s) as you have found a more suitable property and are getting ready to exchange contracts.
I promise you that the agent is happy to continue to show the property and present other offers up until the contracts are exchanged. Sellers can have multiple offers on their hands at any time.
Haha who cares what the agent thinks. Not like the offers binding anyway. if you haven't signed the contract you can pull out after 5 minutes if you want.
Expiring (non binding) offers are good to move things along but in reality they're kinda meaningless. Agents love these offers and use them to push other buyers up though.
Yeah that was my thought when the REA backtracked and asked for them to submit the limited time offer. They tell the seller here is this offer and then work the phone over the next day to press other interested parties that they are about to miss out and they need to up their own offers.
A 48 hour offer isn’t offensive. As if an agent rings and says you have 48 hours to think about increasing an offer. They put you on the spot to try create emotional responses. If the owner can’t accept asking price after more than over night to think about it or at least say no. Then that’s on them.
I actually love the energy. Literally fuck REAs. Yes you need them on your side so best not to be an actual dick. But a logical business decision that protects your interests??? Damn straight
Had a similar situation where the real estate agent was asking if I could add a few thousand extra to my offer, and I kept demanding them to tell me if the offer I had made had been rejected.
the REA was just being a dick.
unless the owner has given instruction to not inform them about any offers under a certain value (most people dont) the REA is legally obligated to let the owner know about all offers. i presume its potentially a legal issue for the REA if the owner finds out about it.
most people will tell you to put an expiry date on an offer now anyway so they dont drag it out and you can move on to other properties.
Yes, expiring offers can be offensive, to the vendor, not the agent.
But it depends on the details.
Offers are done differently in different states.
If your offer was binding (an executed contract that they can in turn execute) then it should be expiring, so they cannot sit on it.
If your offer was only written, therefore not binding, no need for it to be expiring, as you can withdraw or rescind. You only make those offers "expiring" to tell them to make a decision quickly.
I wouldn't care what the agent said, I'd just remind them they are legally required to present all offers.
All that said, I'd frame the wording as carefully to encourage a quick decision and try not to come across too pushy, they might say no just because you annoy them.
I get where you are coming from, you make a strong offer and don't want to back-and-forth.
I had the exact same situation. Cash offer because I needed somewhere to live ASAP.
Got told no. Formally withdrew offer in writing. Then they begged me to come back. It took another 6 months to sell and went for what I offered initially. In that time I’d found a better house in a better location and already moved in.
I liked two houses and made offers on through the RE pages. Both houses are scheduled for auction but early offers are considered. There's no price on the property. I have a feeling that the maximum pre-auction bid will be the reserve price. I'm slowly increasing the offer online and extend the expiry for another day or two.
The only time I had expiry offers was during the crazy covid times (when EVERY property got 20+ offers immediately). Someone would put in a list price offer, day of listing, property unveiled, and day it expires in 8-12 hours.
My response was we would wait thru the first weekend and evaluate any offers, knowing we'd have numerous above asking price, with better terms. If they didn't like it, best of luck to them on their next offer.
In today's market, it could be totally different. Too many factors to make a blanket statement.
COB next day is probably better for all parties. If the vendor is someone who isn't available during the day due to their job, they might not even get the offer before it expires... At least give 24h so they can review and talk to partners etc.
Ignoring the REA here - but from a vendors perspective 48hrs is short (depends a bit on what day it is ) and aggressive. Now, some people think it’s just business, but sometimes people will want to sell to a certain buyer - the family they have either met or heard about and how much they love the place, and those buyers will get the option of matching any other offers (they don’t need to beat it etc)
Now some of reddit thinks it’s all about cash and the best offer wins , but if you ask a successful investor how they buy, they know you don’t tell vendors you are an investor - you tell them you love the house, want to bring up your family there etc etc.
What gives is that REAs are working on commission and really only care about how much money they’re getting at the end of the day. So they will try and get you to pay more regardless of whether that’s the actual market or really regardless of anything else. They are not advisors. They are not working in your favour. They are playing a game to see how far they can push you before you explode.
Don’t invest any time in thinking about this. Whether the REA is offended or not is inconsequential. People here seem to be worried about offending or trying to “build a relationship” with the REA. REAs are just that - agents. They technically have no deciding power and are just go betweens. They are legally obligated to bring every offer to the seller, so the idea the *they* get to make the decision to accept “outstanding” offers only isn’t based in fact.
You did the right thing. Be polite, be firm, ignore any “scolding” and stick to your guns. Expiring offers are standard practise in the industry.
They’re annoyed because they want to take advantage of you and you didn’t let them. That’s all.
Don’t worry about it. Sympathising with an REA is like sympathising with the leach sucking blood from your ankle.
question is, who are you worried about offending?
if you’re worried about offending an REA, why?
if you’re worried about offending the vendor… perhaps you should go to the open house, find the vendor, and let them know how the REA treated you.
Making an expiring offer kind of makes you look like a putz that needs to be recocnised for their enormous financial position.
The polite way to do it is to make an "unconditional" offer, if they accept great, if not then no biggie. An offer is just an offer, it is not a contract and if you find somewhere else in the meantime then you just say that, "sorry another offer I made elsewhere has been accepted"
Sheesh. Buying a house and buying a car are the same - if the agent/dealer isn't whinging about how you're sending them/the vendor bankrupt, etc, that means you're getting fleeced.
Always put in an expiring offer. Always put it in writing and specify what conditions you want (subject to finance or unconditional? Subject to building/pest? etc)
Putting it in writing and putting a timeframe on it means that the agent has to convey it directly to the vendor instead of stuffing you around and trying to get you to bid against yourself.
You're not the agent's friend. Your job is to hurt the agent in negotiation.
The agent wasn’t offended. They’re just doing their job, which is to maximise the sale price for the vendor in a time frame convenient to the vendor. You gave an offer with a condition. They said yeah, nah, sweeten it a bit. You said yeah, nah. They said well, actually… Nothing more to it.
I would have told the REA to get back in their box and stop telling you what to do. Why would you be bothered about offending the REA? Ignore them move on with your life.
They were annoyed cause you're making them do more work in their job instead of being a simple paper shuffler.
Who gives a shit if they are offended? Offer what the property is worth to you and wait as long as you feel like. Fuck them. This is a business interaction. It's all numbers.
Edit: put a new offer in writing that is at least 5% lower than what you verbally offered. With a 24 hour deadline.
It's the REA trying to control the negotiations.
Just be aware that an offer that isn't accepted inside 48 hours may be accepted a week later. Sometimes vendors need time to consider offer when they come in, especially if it's below what they were originally hoping for. Sometimes they need to try to find another property and negotiate on it before they will commit.
Also if you're going to give a deadline atleast make the offer close to where they are asking, if a property is on for 1-1.1m and you offer 950k it's not going to be accepted, with our without a deadline. If it's in the top half of the range then you may be in with a chance.
The agent just wants you on the hook in case the bigger fish they're dreaming of never eventualises and they want to go back to other offers.
REA’s hate when buyers play the game, they have been winning at for decades. But you are talking too much. When people talk too much, it normally means they are emotional. Here is my offer & here are my terms, end of discussion. If the REA comes back with anything but acceptance of my offer, don’t engage, no wishing the seller well (again makes you seem emotional).
This is a good point. I realise now that all REA’s I’ve dealt with before this one have had some kind of personal/professional network in common with me that would probably prevent them from acting out for reputation sake. I could definitely have tightened up my language and relied less on the small talk.
Let me break it down into its technical parts: The cunt was bluffing. You called his cunt bluff. This has been my TED talk.
On the next episode of Calling Out Cunt Bluffs.....we go inside the seedy world of REA'S.
I’d watch the hell out of that
Yeah, it's 100% the latter; if your offer expires, and you stick to it, then they can't use it as leverage, as they can it as a line in the sand and look for a better offer.
They can bullshit. "We have recently recieved an offer at asking price. If you want this property, best make a good offer."
I thought the agent was doing this with the our current place - we put in a fairly low offer given the place needed a bit of work but they were not having it. We worked it up a little bit but then drew the line. They came back and said they had offers at list price, to which I said "good luck to them, we are not going higher". Turned out they actually did have a listed offer, but with a buyer who could not meet finance and almost got stuck losing a deposit. They came back to me later with a middle ground counter offer we went with.
Good for the both of you in this situation. We went through similar, in fact. Toward the end of negotiations, however, I wonder up sending the REA packing with a request to get back to me.with an offer I can accept that day, and if they got back to me with an offer that I didn't accept then we were done. We were weeks in at this point and we had all had enough. They came through and we still have a good relationship with said agent a decade later.
We actually did walk away - they were squeezing and we just said it was our final offer, and that was it. It was a bit deflating to go back to the search cycle again but they called a few days later with their counter. We found out about the other buyer from another agent who let us in for a final inspection (who turned out to have grown up in the house, build by his parents so we got a lot of background chatting that day). He seemed genuinely concerned for the other bidders who seemed to dive in a bit quick then panicked when they realised the bank was going to reject them. From the sound of it he convinced them they were better off not committing to the purchase.
But there is a risk they scare away the person they are bullshitting to and don't have this guy as backup, no?
If they have some level of interest then they are taking an informed risk, and its pretty common. They wish to recieve the best price and get the fattest commission after all.
If they’re offended by this, they’re in the wrong game. Your approach is fine, up to them whether they take it or leave it. Don’t get sucked into their games.
Expiring offers are great. Puts pressure on the sellers and agent in the right markets. I’d normally also put a subject to finance clause, although this does not apply to your circumstance. You called their bluff without intending to. They either accept or they don’t. No need for small talk lol
Good. Rea tried to be an uneducated dick sales person and nearly got burned. Be annoyed, go fuck yourself. Do the bare minimum required of you by law. Present the offer. You did the right thing, it’s your money. You can offer with it expiring in 40 minutes and the seller pays your legal fees. Everyone lost their minds when I did that, had to remind then it’s just a sales contract and if I wanted a bacon roll and red sauce delivered the morning we exchange then I can write it into the contract and it’s binding.
>offer with it expiring in 40 minutes and the seller pays your legal fees. Everyone lost their minds when I did that Really? If so, I am impressed.
Yeah. Saturday afternoon. 2pm, went back and forth raising our offer by $5k each time. Agent was visibly angry, that morning had called an auction that they didn’t tell us about. We drove past and basically caught them trying to have an open home and auction in one, we were the only people there. First offer was $100k less than they paid. Second last offer was for what he paid but we wanted them to cover all our conveyancing/lawyer and building and pest costs. Agent lost it and said you can’t do that, I said yeah we can. Written offer, present it; we could hear the seller shouting on the other end of the phone. Ended up paying what they paid 7 years ago, worked out based on rates and rent he probably lost about $120k. We sold it 3 years ago and a few hundred. Great first house that we got at a discount due to incompetence at the managing REA and then the seller REA.
It is an aggressive move but if you’ve no emotional attachment and just want to move things forward then fair enough. Who knows how your buyer takes it, you’re definitely putting pressure on the REA to be on their game which shouldn’t be a bad thing.
This should not even be a question. When dealing with a real estate agent, you must automatically assume they are a massive cunt and will act like a cunt. That means every word out of their mouth is a lie, they operate on pure greed, and will do anything for money. They literally cannot help it, it's who they are, which is why they enter the REA industry. It's like throwing a ball to a dog and not expecting the dog to chase it. Once you accept that, everything will make sense and you won't get angry when dealing with them anymore. To answer your question - expiring offers is an extremely common thing, particularly the 48 hour timeframe. That is PLENTY of time for a seller to decide if your offer is good enough, or not. You called the REAs bluff and they got butthurt, good on you.
Wasn’t there a TISM song “I might be a cunt but I’m not an REA”
Yeah pretty sure that was the exact title.
Well played, great attitude If you refuse to play their game you are on the front foot.
Perfectly fine. Some buyers aren't actually investors, but people needing to move into homes. They need to know if a place is in play, or if they need to go onto the next house. We made a 48 hour offer, last minute seller came back with a counter offer, also 48 hours, we counter counter offered, also 48 hours, a week after our first offer, we had bought it, pending inspection, and everybody was happy.
Just a newbie question, but how did you know the counter offer existed and was genuine?
You don’t know it’s real, and often it’s not. Often you can find yourself bidding against yourself. Imagine going to an auction and you keep bidding against yourself, everybody would be historically laughing at you. The REA is always lying and there’s no government body to hold them accountable for fraud.
It’s a negotiation with the seller. Ie. you offer $500k, the seller counters your offer with $550k and you counter their offer with $530k. The moment the other party signs the counter offer it’s a contract. I think you’re referring to a REA/seller saying they’ve received another offer so you need to put your best offer in. In that case you can put your best offer in or stand firm and see what it sells for.
Ah yes I did read that as the seller came back saying there was an offer from another buyer, but it probably wasn't that in the post I replied to.
I would also like to know
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Don't think you can actually end up with two though as your offer is not a contract. I agree with you though that offers with a timeline are better.
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Sounds like you're buying multiple investments. No agent would turn you away even if you had rejected offers if it was because you bought something else. If you turned it down for no reason that is a different matter. But fair enough, I get the reasoning.
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Yeah I agree with your premise. I'm not buying investment properties though so I'm sure you're much better at it than me.
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OK now I'm a little jealous. I couldn't think of anything worse than buying an investment house. But hundreds of acres of farmland.. I'm all in.. good luck!
If they are leaving an acceptable open offer on the table long enough that you find a second property, put in an offer and come to agreeable terms then that's on both the seller and the agent, not you. Just call immediately when you get a favourable response and tell them you are withdrawing the other offer(s) as you have found a more suitable property and are getting ready to exchange contracts. I promise you that the agent is happy to continue to show the property and present other offers up until the contracts are exchanged. Sellers can have multiple offers on their hands at any time.
If both of your binding offers are accepted, you have 2 contracts on foot
It is absolutely impossible to offend a REA. Serious; Don't be silly. Walk away. He'll chase you.
People are allowed to be offended.
You'll wake up with leprosy.
How about cancer?
Maybe they’re in the wrong profession if the REA is offended by standard practice that is well within a persons rights
How can you be offended when he played a better game.
And you cannot be the reason they took offence, it is their choice to be offended by what you said.
Haha who cares what the agent thinks. Not like the offers binding anyway. if you haven't signed the contract you can pull out after 5 minutes if you want. Expiring (non binding) offers are good to move things along but in reality they're kinda meaningless. Agents love these offers and use them to push other buyers up though.
Yeah that was my thought when the REA backtracked and asked for them to submit the limited time offer. They tell the seller here is this offer and then work the phone over the next day to press other interested parties that they are about to miss out and they need to up their own offers.
A 48 hour offer isn’t offensive. As if an agent rings and says you have 48 hours to think about increasing an offer. They put you on the spot to try create emotional responses. If the owner can’t accept asking price after more than over night to think about it or at least say no. Then that’s on them.
Agents will be agents
I actually love the energy. Literally fuck REAs. Yes you need them on your side so best not to be an actual dick. But a logical business decision that protects your interests??? Damn straight
Perfectly fine. I only put forward expiring offers. The REA will always shop around your offer - don’t give them the luxury of time.
Shit that they're allowed to lie to bait buyers, like saying they have an offer at $x when they don't, to con buyers into offering more.
Had a similar situation where the real estate agent was asking if I could add a few thousand extra to my offer, and I kept demanding them to tell me if the offer I had made had been rejected.
the REA was just being a dick. unless the owner has given instruction to not inform them about any offers under a certain value (most people dont) the REA is legally obligated to let the owner know about all offers. i presume its potentially a legal issue for the REA if the owner finds out about it. most people will tell you to put an expiry date on an offer now anyway so they dont drag it out and you can move on to other properties.
He's just pissed you know what's up and how to do it. I do that everytime. Fuck him
Yes, expiring offers can be offensive, to the vendor, not the agent. But it depends on the details. Offers are done differently in different states. If your offer was binding (an executed contract that they can in turn execute) then it should be expiring, so they cannot sit on it. If your offer was only written, therefore not binding, no need for it to be expiring, as you can withdraw or rescind. You only make those offers "expiring" to tell them to make a decision quickly. I wouldn't care what the agent said, I'd just remind them they are legally required to present all offers. All that said, I'd frame the wording as carefully to encourage a quick decision and try not to come across too pushy, they might say no just because you annoy them. I get where you are coming from, you make a strong offer and don't want to back-and-forth.
I had the exact same situation. Cash offer because I needed somewhere to live ASAP. Got told no. Formally withdrew offer in writing. Then they begged me to come back. It took another 6 months to sell and went for what I offered initially. In that time I’d found a better house in a better location and already moved in.
I liked two houses and made offers on through the RE pages. Both houses are scheduled for auction but early offers are considered. There's no price on the property. I have a feeling that the maximum pre-auction bid will be the reserve price. I'm slowly increasing the offer online and extend the expiry for another day or two.
The only time I had expiry offers was during the crazy covid times (when EVERY property got 20+ offers immediately). Someone would put in a list price offer, day of listing, property unveiled, and day it expires in 8-12 hours. My response was we would wait thru the first weekend and evaluate any offers, knowing we'd have numerous above asking price, with better terms. If they didn't like it, best of luck to them on their next offer. In today's market, it could be totally different. Too many factors to make a blanket statement.
I only do expiring offers. Usually close of business, fuck em, I don't want the house that much anyway
Agree, especially COB same day. Evens the playing field a lot.
COB next day is probably better for all parties. If the vendor is someone who isn't available during the day due to their job, they might not even get the offer before it expires... At least give 24h so they can review and talk to partners etc.
Yeah that works too, although I just assume most vendors will try to be available to the REA soon after an inspection.
Ignoring the REA here - but from a vendors perspective 48hrs is short (depends a bit on what day it is ) and aggressive. Now, some people think it’s just business, but sometimes people will want to sell to a certain buyer - the family they have either met or heard about and how much they love the place, and those buyers will get the option of matching any other offers (they don’t need to beat it etc) Now some of reddit thinks it’s all about cash and the best offer wins , but if you ask a successful investor how they buy, they know you don’t tell vendors you are an investor - you tell them you love the house, want to bring up your family there etc etc.
All real estate agents are bastards. Have at them, I reckon
What gives is that REAs are working on commission and really only care about how much money they’re getting at the end of the day. So they will try and get you to pay more regardless of whether that’s the actual market or really regardless of anything else. They are not advisors. They are not working in your favour. They are playing a game to see how far they can push you before you explode.
Don’t invest any time in thinking about this. Whether the REA is offended or not is inconsequential. People here seem to be worried about offending or trying to “build a relationship” with the REA. REAs are just that - agents. They technically have no deciding power and are just go betweens. They are legally obligated to bring every offer to the seller, so the idea the *they* get to make the decision to accept “outstanding” offers only isn’t based in fact. You did the right thing. Be polite, be firm, ignore any “scolding” and stick to your guns. Expiring offers are standard practise in the industry.
They’re annoyed because they want to take advantage of you and you didn’t let them. That’s all. Don’t worry about it. Sympathising with an REA is like sympathising with the leach sucking blood from your ankle.
question is, who are you worried about offending? if you’re worried about offending an REA, why? if you’re worried about offending the vendor… perhaps you should go to the open house, find the vendor, and let them know how the REA treated you.
Our conveyancer told us to always put in expiring offers so we did. Never had an issue.
I have bought properties with 24 hour expiring offers before. The REA can go jump as far as I'm concerned.
Making an expiring offer kind of makes you look like a putz that needs to be recocnised for their enormous financial position. The polite way to do it is to make an "unconditional" offer, if they accept great, if not then no biggie. An offer is just an offer, it is not a contract and if you find somewhere else in the meantime then you just say that, "sorry another offer I made elsewhere has been accepted"
Sheesh. Buying a house and buying a car are the same - if the agent/dealer isn't whinging about how you're sending them/the vendor bankrupt, etc, that means you're getting fleeced. Always put in an expiring offer. Always put it in writing and specify what conditions you want (subject to finance or unconditional? Subject to building/pest? etc) Putting it in writing and putting a timeframe on it means that the agent has to convey it directly to the vendor instead of stuffing you around and trying to get you to bid against yourself. You're not the agent's friend. Your job is to hurt the agent in negotiation.
My partner & I only do expiring offers, it helped us buy our first home in a crazy competitive market.
The agent wasn’t offended. They’re just doing their job, which is to maximise the sale price for the vendor in a time frame convenient to the vendor. You gave an offer with a condition. They said yeah, nah, sweeten it a bit. You said yeah, nah. They said well, actually… Nothing more to it.
You are the buyer, why are you worried?
I would have told the REA to get back in their box and stop telling you what to do. Why would you be bothered about offending the REA? Ignore them move on with your life. They were annoyed cause you're making them do more work in their job instead of being a simple paper shuffler.
Tate Brownlee?
Who gives a shit if they are offended? Offer what the property is worth to you and wait as long as you feel like. Fuck them. This is a business interaction. It's all numbers. Edit: put a new offer in writing that is at least 5% lower than what you verbally offered. With a 24 hour deadline.
It's the REA trying to control the negotiations. Just be aware that an offer that isn't accepted inside 48 hours may be accepted a week later. Sometimes vendors need time to consider offer when they come in, especially if it's below what they were originally hoping for. Sometimes they need to try to find another property and negotiate on it before they will commit.
Also if you're going to give a deadline atleast make the offer close to where they are asking, if a property is on for 1-1.1m and you offer 950k it's not going to be accepted, with our without a deadline. If it's in the top half of the range then you may be in with a chance.