In an active market such as ours, we customarily see a certain day chosen by the seller and listing agent for the presentation of offers...usually mid-week after the first set of open houses.
Most agents see the fairness of this practice, and are willing to compete with their peers. This is all well and good, but occasionally someone will approach the listing agent before the agreed upon date and ask to present an offer... a so-called preemptive offer.
I listed a house this week in the outstanding West Valley Elementary School District, on 1561 South Mary Avenue in Sunnyvale. We announced on the MLS that offers would be presented on Wednesday, the 27th, after buyers have a chance to inspect the home at open houses and read all the disclosures.
I have already been called by two agents, asking if they could present offers before that date. Part of their concern was that they would lose out if another offer were presented to the seller in advance of the 27th. I reassured them both that I would treat all agents fairly, and wait until the chosen date.
This is not only the ethical thing to do, it is also best for my client, the seller. She will have a chance to evaluate all the offers together, and we will be able to negotiate the best price and terms for her.
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