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Thanks. That became more apparent the more details you gave.
This is a 17 county MLS, and I have not heard anything like you are saying about a 30 day period. Local customs may supplant the openness of the standard forms, but nothing was ever established on a statewide level in terms of the DD Period length.
The beauty of the Standard Form is that the parties are supposed to form agreements that work for them. It was designed specifically to minimize or eliminate bickering over standard wording in the contract.
I've been watching how some realtors work, lately. My perspective is that buyer agents put in A LOT of hours working with their buyers and, in the end, they really don't make that much money off the sale (especially in the under $250k range). So from my point of view, they would be incentivized to limit the showings that will be a waste of time and get them even further away from a closing contract.
That may not be the reality, and SOME agents are bound to go above and beyond, but I'm sure the average case is that realtors are busy and not able to spend a lot of time viewing and submitting offers on places that are only 10% chance of actually closing.
Then like you said, the lack of experience on backup offers makes it even worse.
So yeah, my thoughts are that you can continue to allow showings all you want. But the reality is that once you have a contract, you're unlikely to get a significant number of showings.
Thanks. That became more apparent the more details you gave.
This is a 17 county MLS, and I have not heard anything like you are saying about a 30 day period. Local customs may supplant the openness of the standard forms, but nothing was ever established on a statewide level in terms of the DD Period length.
The beauty of the Standard Form is that the parties are supposed to form agreements that work for them. It was designed specifically to minimize or eliminate bickering over standard wording in the contract.
Okay, so I am selling in the Charlotte MLS & buying in the Raleigh MLS. IYO, is there substantial difference between the two?
Okay, so I am selling in the Charlotte MLS & buying in the Raleigh MLS. IYO, is there substantial difference between the two?
I only have experience in the Raleigh region, so I cannot reflect on Charlotte beyond what you have related.
But, some of what you relate is starkly different from my experience and training locally.
No, not essentially the same? As others have stated, whatever the wording, when a listing is presumed to be under contract, contingent, or pending, it is seldom shown or even desirable to buyers.
I only have experience in the Raleigh region, so I cannot reflect on Charlotte beyond what you have related.
But, some of what you relate is starkly different from my experience and training locally.
No, not essentially the same? As others have stated, whatever the wording, when a listing is presumed to be under contract, contingent, or pending, it is seldom shown or even desirable to buyers.
It is kind of a chicken--egg thing.
Sellers and their agents handle backup offers and contracts poorly, so the prophecy of "No Showings" self-fulfills as buyers' agents don't show and write like they should, because sellers and their agents don't respond well so buyers' agents figure why bother, and sellers and agents then moan about No Showings.
I think you might find that a sea change in seller behavior may well precipitate a change in buyer behavior.
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