If as a listing agent you are truely working "highest and best" sometimes you make independant decisions of the seller. I have one that I received 2 offers, submitted them and sure enough - even after an independent e-mail to the AM asking for her to put the deadline for H&B at 5pm on the 6th - the deadline was set for July 4th. So, I verified with the loan officer doing pre-quals - this will go 203k FHA without too much fuss - she was off on July 5th. I had 23 showings between the 30th and this morning - so I set the deadline as 5pm on the 6th (today). I e-mailed the AM again - explaining the need for the pre-approvals - their requirement - and of course - no response - beacause they are off for the holiday. I will be scolded - this I know - I bucked the system - I am missing the task deadline - it is glowing red - but my definition of highest and best - is to make sure that the seller (bank) does not screw it up. Now they may take a cash offer - they may take an owner occupied 203k - as stated above - not my job to try to figure that out. My job is to make sure that all agents who have a buyer and need a pre-approval letter - or denial letter - to submit an offer - have the opportunity to get that letter. I sent an e-mail to all agents that showed the property from the day of the price reduction to present day. Posted it in the MLS and told my front desk to inform all agents scheduling showings of the deadline. I may end up with squat - but I think by the end of the day - I will have at least 6 or 7 offers - with at least two of them over list. It is easier to get forgiveness then permission - and I am gonna be asking for forgiveness from the AM at the end of business today. Does it make sense - nope - but I made a judgement call and I am gonna stand behind it.

Time and time again, we have to keep AMs from shooting themselves and the seller in the foot. They want this process to be "push botton", no thinking, no understanding, just push a botton and get results. Whether that result is good or the best result doesn't matter.

We stopped teachng logic and problem-solving in schools a long time ago. It no longer matters that the right answer is found, only that you tried. You still get a prize, or a paycheck.

lol - I would to get aggravated back then - I would get only half credit for the right answer if my work didn't match the teachers. No one back then liked people out of the box - and they never built a box yet that can hold me.

Pine - me too. I got the answer but I "didn't show my work". Flunk.
We did get 7 offers - ooo I was right on - four over list - missed that - but the winning one was owner occupant - 203k rehab loan - so I guess cash doesn't always win. Now I must try to survive the 203k process. Poo.

I was in a highest and best situation and lost out at first. My client put in a fair market value for a home right on the ocean, at first we didn't get it because there was an all cash offer $50K over our over asking price offer. So the listing Agent says to me, hey we will put you on as a backup and if the current buyer falls through, then I will call you.

I couldn't believe the Listing Agent because typically, they like to start the charade over again with putting back on the market and soliciting more offers. Well surprise to me, he actually called me back and told me the current buyer isn't going through with it because he was an out of town Investor who flew in and said, this is not for me, I want out.

Long story short, we got the deal, closed it. I have to say, the listing Agent has the most ethics I've ever seen in this REO listing Agent arena whereas there aren't too many that do.

We always keep all of the other offers when we are multiple. First thing we do is call all of the non-winners and let them know. Enlighted self interest and you do have a reputation to maintain.

Happy it worked out for you.

It also reminds me of a parable.

"The early bird gets the worm but the second mouse gets the cheese".