BIC TIP #1183: Be a Proactive Seller

Here is a little reminder that surprises a lot of folks: in a real estate transaction, it is typical for buyers to make offers to sellers, but a seller can make an offer to a buyer too. Stephen Long explains that both buyer and seller are parties to the contract, so either party can draft the offer. For a seller who really wants to move a property, that opens up some interesting possibilities.

Offers Are a Two-Way Street

We tend to picture the buyer’s agent writing the Offer to Purchase and Contract and sending it over to the listing agent. That is the usual flow. But nothing about the contract requires that the buyer always go first.

Since both buyer and seller are parties to the contract, either one can initiate. A buyer’s agent can fill out the offer on the buyer’s behalf, and a listing agent can fill it out on the seller’s behalf.

Nudging the Buyer on the Fence

Picture this. A buyer toured the home, loved parts of it, and has been “thinking about it” for two weeks. Meanwhile, your seller is ready to move. Rather than waiting and hoping, the seller can reach out to that buyer with an offer that may entice them over the edge.

Stephen also mentions a notice to buyer of terms the seller would be willing to accept. It is another tool to let a buyer know what the seller has in mind and start a conversation. Work with your broker-in-charge on which approach fits the situation.

Still a Bilateral Contract

No matter who writes it first, once both parties sign, it becomes a bilateral contract between buyer and seller. The terms are negotiated, the agreement is mutual, and the goal is the same as any other deal: get to closing so everyone gets where they want to go.

Of course, the buyer still needs to make their own decisions, ideally with their own representation, before they sign anything.

The Practical Takeaway

Listing agents, do not sit on your hands when an interested buyer goes quiet. Remind your seller that either party can draft the offer. A proactive, well-timed seller offer can turn a maybe into a closing.