My stock answer is:"Did you miss the pre-licensing class where this was addressed?"

I upload a document in the MLS's that spells out what is required for me to submit the offer to the bank, the usual stuff. Yet I still get offers submitted as one page "Intent to Purchase" instead of on the standard contract. I get them without proof of funds/pre-approval letters, without the addenda (which are also available via the MLS) without a copy of the escrow check, etc. etc.

I'm thinking about starting remedial reading classes for real estate agents.

I normally tell a buyer that the listing client does not tell me their bottom line but that I'd be willing to submit whatever offer the buyer wants to make that is supported with an earnest money deposit and either proof of funds or a prequalification letter, and see how they respond to it.

In the response to questions about multiple offers I normally will say how many offers are currently outstanding; anything more than that and I tell them I can't discuss the details of anyone else's offer anymore than I would give out details of whatever offer they might make.

My standard response is "I know that they will entertain offers at list price, do you have an offer you would like to present?"

My favorite is when they ask who the lender is... like they will have some magic formula if they know. I always ask them why that matters.. they usually stumble and bumble before saying.. uh, OK. If they press the question further I just tell them that I think that it is the bank of Dubai.

I guess you will never get away from stupid offers too...

I got one today for a house that is listed at $686K. Which is a very good price. We just did a price reduction and I have had lots of activity. I got an offer today for $500K. I really don't understand what the point is?? I mean why waste my time and yours on offers like that. Do they really think they have a chance with an offer like that? It has been on the market less than 60 days. You can hardly buy a shack in this city for $500K and my listing is nice!!

I was hoping there was some magic answer that would cut down on things like this, but I have been telling agents basically what all of you are advising...

It's just PERCEPTION in the current marketplace.

GULF now in my area I can actually say why they ask this.

I have been tracking foreclosure data in my MLS. There are certain listings where lenders are still only reducing 5k a month and are not realistic and then there are others who are always real aggressive with mark downs and pricing.

In my county in the tax record anything with Well Fargo,Taylor Beam and Whittiker,and Bear stearns sell there stuff pretty low to move. So when I check the tax record I know some lenders/banks are more open to dealing then others based on who owns the loan. I was actually shocked to find a pattern but there was one in my mls. I guess it would be fun to do the same in your local area. I also do this to find which lender has most of the defaulted REO's in my county as it varies from county to county.

I just say, "well, it's listed for $330,000, so they'll probably take that.

love the shades!

I often get asked in multi-offer situations if the offers I have received are higher than asking price. I never know what to say.

Look, it is so simple you represent the Seller and our job is to get the best possible price and terms for our client. So, if that is the goal it preferrably would be the list price; which is what I tell them. Also, I mention that my Seller does not disclose their bottom line to me and if they did I couldn't tell you anyway and the I state; "have your Buyer write their best offer and we'll let my client decide if it is acceptable". I do not want to discourage getting any offer, an offer is better than no offer and then we can let the games begin. I always go back to the Selling agent when I get a counter with this comment, "no matter what, don't let my client be the last to respond, have your buyers come back with something; even if it is the same price". You'd be surprised how many AO I get because of this technique.

How about "If there are no other offers, I'm sure they'll take $$$(the list price).

I usually tell agents, the bank wants the most they can get for their house; its currently listed for XXXX. Submit an offer and it will be either rejected or countered.

When I have multiple offers I just say we have multiple offers going as high as list price or over list price or close to list price.

I never give buyer's agents a number. I got $20K over list price once because I never revealed my highest offer. It is none of the buyer's agents business.