9 Steps to an Ammended Offer Presenation

Below is a quick sample of an amended offer presentation, assuming the offer is countered:

Seller Salesperson: ABC Realty Inc., Mike Smith

Buyer Salesperson: XYZ Real Estate Ltd., James Rios

Sellers: Mr. and Mrs. Wu

Buyers: Mr. and Mrs. Austin

Step 1: Rios calls Smith informing him of an offer. No details are provided.

*Note: Referred to as registering the offer

Step 2: Smith calls the Wu’s to arrange a convenient time and location, typically at the sellers’ home.

Step 3: Smith calls Rios to confirm time and location.

Step 4: Smith and Rios arrive separately. Smith presents the offer. The Wu’s may elect to make a decision in the presence of both sales persons or request a private consultation with Smith.

Step 5: The offer is not acceptable. The sellers counter by changing and initialing the price, chattels, closing date, and irrevocable clause. The Wu’s initial all changes, sign on signature lines, and date signatures. Smith witnesses the signatures.

Step 6: The counter offer is usually given to the selling salesperson for presentation. The Austin’s accept the counter offer.

*Note: In some instances, the listing salesperson may present the counter to the buyer’s in the presence of the selling salesperson

Step 7: The buyers initial all changes, sign on signature lines, date signatures, and either Mr. Or Mrs. Austin sign the Confirmation of Execution. The Austin’s portion of the Acknowledgment is completed and signed by them. Salesperson Smith and Rios sign the Commission Trust Agreement. Signed copies are distributed to the buyers. Rios retains a signed copy for XYZ Real Estate Ltd.

Step 8: Smith takes the balance of the signed agreements to communicate acceptance to the sellers, distribute copies, and complete the sellers’ portion of the Acknowledgment (listing broker’s copy), which the Wu’s then sign acknowledging receipt of a copy. The sellers receive signed copies.

Step 9: Smith retains the original for ABC Realty Inc. Signed copies are also forwarded to the lawyers as a matter of accepted business practice.

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Related posts:

1. 8 Steps to a Typical Real Estate Presentation
2. 10 Steps to Sealing the Deal on a Home Purchase