A real estate broker explains that agents must submit every offer to sellers, even lowball ones, unless the seller gives written instructions otherwise. Real Estate Education Board rules require it. He's submitted offers 20-50% below asking price as standard practice.
Submit the offer no matter what. To answer it very simply, submit the offer always. But to get into—
Can we break that down? Why submit the offer? Why are you adamant about it?
Well, I've presented offers that were 20% below asking. I presented offers 30% below asking, 40% below asking, 50% off of asking. That's literally my job, Joe. When we get approved by the Real Estate Education Board, we have to, in our license, we're required send a seller every single offer that we receive unless we're specifically told over email or if it's written, don't send me an offer below this range. That's the only time we don't send a client an offer. So it's literally our job. Sellers don't hire me to decide what they should hear. They hire me to bring them the market. And if that's where the market is, that's what we're going to present to them, right?