Form 244: The Solution to Bully Offers

04 April 2017

In a hot real estate market, Bully Offers  are the biggest problem, not just for Buyers, but for Agents too. In every listing primed for multiple offers the Broker remarks say, "no offers until 7pm on such-and-such a date" then… guess what? A Bully Offer arrives 10 days early and the Seller wants to consider it. Now the Listing Agent has to race around to phone every other Agent who has booked an appointment to tell them the good news, or the bad news.

We feel that if a property is primed for multiple offers, then that is the way it should be sold. Listing Agents complain that they did not want to entertain Bully Offers, but the Seller changed their mind. However, there is now a specific OREA form to solve the problem. It's called Form 244: A Sellers Direction in Property Offers. Once the Seller signs this form, they are saying that they will not entertain any offers before a specified date. Now, they cannot look at Bully Offers and life will be much better for everyone.

We need all Listing Agents to get on board and use this new form. It will make Sellers and Agents more professional and more ethical in this crazy market.