Overwhelmed Listing Agents Improvise to Communicate with Buyers’ Agents
Once upon a time, the “Agent Remarks” field on MLS was used to supplement the marketing verbiage in the “Public Remarks” field.**
Especially for new listings in the throes of multiple offers, it’s a way for listing agents to efficiently update Buyers’ agents.
Dozens of Buyers’ agents, in many cases.
Rules of the Game
The most common items divulged:
–Whether the home has received multiple offers.
–If so, the deadline for submitting offers, as well as “the rules of the game” (in Minnesota, Sellers typically request that Buyers submit their “highest & best” offers). See, “Runner-Up Home Buyer Lament: “But, I Would’ve Gone Higher!””
–Any change in the offer deadline.
–Key terms the Seller is looking for in an offer (such as closing date, time of possession, excluded items, responsibility for pending assessments, etc.).
Ideally, all that information would be conveyed, personally, to Buyers’ agents.
Unfortunately, in a housing market frenzy where some homes are seeing more than a hundred showings and dozens of offers within days (hours??) of hitting the market, such individual attention often isn’t feasible . . .
P.S.: Buyers’ agents inattentive to the above can easily miss out.
**WAY back when — like 2008 – 2011 — “Agent Remarks” was where listing brokers highlighted any sales incentives they were offering Buyers’ agents.
See also, “Seller’s Market Sign #23: Announcing the Homeowner’s Preferred Closing Date, Possession Terms on MLS“; “Ignoring “Agent Remarks” at Your Peril (Literally)“; “Agent Remarks” by Ross Kaplan“; and “MLS Agent Remarks: “Driveway Will Be Repaved When Weather Permits”.”
And: “MLS Agent Remarks: “Bring Your Client Fast as it Will Not Last!”; “MLS Agent Remarks: “Fully Licensed Chicken Coop Can Stay or Go!”; and “MLS Agent Remarks: “Terrific House in Convenient Location. Clean TISH”.