A Question on Follow Up on MLS Deals

[James Danchus]

BP, Ok peeps, I've been grinding on the MLS for a few months now, dealing offers like the dickens, but I haven't been doing any follow up. Should I follow up with the agents? How do you do it? The reason I ask is because I notice that a few of these houses that I made offers on a few months ago are still there! And they were at least >90 days then.

[Mike Cumbie]

Hi @James Danchus,

An offer should have a contract outlying the terms of the offer. It should also have all required documents based on that property. If dealing with someone who works off the MLS they would expect many more forms. For instance:

1) Lead based paint form signed by buyer

2) PCD signed by buyer

3) All pages of offer initialed

4) Cash contingency form signed (if cash)

5) Inspection form signed

6) a myriad of other forms based on where it is and what.

I know that people say "agents are required by law to present any and all offers" and while true". The agent is not required to follow up with you. An agent has to do what the seller says. The seller has 4 options when they get an offer (Accept/Deny/Counter/Ignore). They are not required to respond at all, just as you are not required to respond to spam mail or spam email. 

If the house was listed at 200K and you sent in a word document offering 110K and an assignment clause (or even a full blown contract), without stepping foot inside it. I am going to make the recommendation we ignore any and all emails in the future from that address or person on any and all properties they own. Which in my area may include a decent number that the investors move around. 

Why? because I can list it tomorrow for 150K and it will be gone in 15 minutes. Heck lets do a crazy 30K price drop and watch the people flood in. That's why people say you can't find real good deals on the MLS generally.

You can follow up if you want, but if the agent saw your letter and POF and thought you were an opportunity for their seller they would have called back. (or they thought you may have been a good opportunity for a different seller they would have called too).

I recommend you polish up your letter some to give them the reason to reach out to you.

Good luck and hope you find one!