The Real Estate Encyclopedia
Yikes, I Just Presented My First Offer. What Do I Do Now?
Category - Professional Development - Become a Real Estate Agent

When you’re finally ready to prepare your first offer, you will probably be consumed with fear.  Don’t worry, this is typical and happens to every new agent.  “What does the dog do, now that he caught the car,” is a good way of describing the feeling. 

 

The first thing you want to do is to consult with your broker.  Then consult some more and go back and ask more questions.  Do not take anything for granted.  Do your homework!  You will have gone through the exercise of completing a purchase contract during your pre and post license training but, to be sure, ask a multitude of questions and don’t be shy. 

 

Once you write the offer, allow your broker to review it, to make sure there are no lose ends.  You will write down the timeline, beginning with the Binding Agreement date, once the contract is accepted by all parties.  Again, involve your broker to make sure you have your dates down correctly and did not forget anything. 

 

Follow your company’s procedures for handing in the original plus required number of copies of the agreement, earnest money check, disclosures, personal property bill of sale, and instructions to closing attorney, etc.  Make sure you give your client a copy of every document for his or her files and keep a copy for your files (the client does not need a copy of the instructions to closing attorney).  Fill out the necessary MLS documents and submit them to your broker.  Call the closing agent or attorney and book the closing.  Fax a copy of the contract to the closing agent/attorney and the lender.  Stay on top of the transaction

 
Category(s)
Professional Development - Become a Real Estate Agent
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