Although penned by you and submitted online, Home Savi offers still keep transactions otherwise normal
- Agents must present any and all offers made to the seller, including Home Savi offers
- The seller makes all final decisions—if your offer is competitive, you have a strong shot
- Contrary to popular belief, using a buyer's agent isn't free. Get the facts!
As a homebuyer, submitting your own offer and representing yourself with Home Savi may seem like a new concept. However, if you take a closer look, you'll realize that buyers have been representing themselves for years. What Home Savi does is finally make self-representation easy and accessible for everyone, not just for people with close connections to attorneys or a deep understanding of real estate law. With Home Savi, creating and submitting an offer on a home couldn't be any easier.
But, you may be thinking, are agents going to take my offer seriously? Well, you can rest easy. Below are some concerns you may have, followed by reasons why they shouldn't really be concerns at all!
1) Agents aren't going to consider my offer
Remember, listing agents work for the seller. They have a fiduciary duty to their client (the seller) and are required to present any and all offers they receive on the property. Here's a snippet from the National Association of Realtors' Code of Ethics:
"When acting as listing brokers, REALTORS® shall continue to submit to the seller all offers and counter offers until closing unless the seller has waived this obligation in writing."
Once the listing agent receives your offer, they must show it to the seller and they must give you a response. Failure to do so may result in a violation of the terms of their license.
We've made Home Savi as flexible as possible, meaning our contracts meld well with other standardized forms that real estate professionals already use. In many cases, working with Home Savi buyers ends up being easier for agents than working with some traditional buyers using a buyer's agent.
2) Agents may downplay my offer
At the end of the day, the seller (not the agent) makes all final decisions. Obviously, the seller wants to sell their home for the highest price possible. If your offer is competitive, sellers certainly won't ignore it or downplay it—money is money no matter how the offer is made. In cases where your offer is the only one on the table, sellers will be more than happy to entertain it seriously.
There's no additional cost to the seller or broker to cooperate with a Home Savi buyer—it’s easy for everyone. There's also no rationale to receive an offer that comes through Home Savi any differently than any other offer, especially since the listing agent is paid the same amount they would be if you had a buyer's agent. In addition, your escrow officer will treat your offer just as they would any other offer.
We've got you covered
Thinking about making an offer? Did you know that, contrary to popular belief, using a buyer's agent isn't free for buyers? Read about who really pays for the buyer's agent (hint: it's not the seller), how Home Savi's purchase contract saves you 2.5% and more about representing yourself in a transaction.