Why is a net sheet important to view before accepting any offers
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Why is a net sheet important to view before accepting any offers
Connor with Honor - August 24, 2024** Tags: [real estate](/-/Blog/tag/real estate), [net sheet](/-/Blog/tag/net sheet), [connor with honor](/-/Blog/tag/connor with honor), [santa clarita](/-/Blog/tag/santa clarita), [los angeles](/-/Blog/tag/los angeles), venice ** 0 Comments | Add Comment
Net Sheet - A breakdown of costs, custom-made for each offer received on the seller’s behalf by their agent.
Of course, some agents don’t do this.
I don’t understand how they work around this with their home sellers. I trust everyone to do what they are going to do. That is how I accept everything. You notice that I did not say I trust everyone. I trust that everyone will do what they are going to do. If they hold back on the numbers to trick me, I accept that is what that person will do. I won’t be a part of it.
Some agents wait until later in the transaction, so even if it’s a shock, it can be too late for a seller to change anything. In fact, in most cases, the best the seller can do at that point would be to stand in the street waving their fist and screaming.
When I talk to a home seller and we decide on the commission, concessions and price of their home. I gather what they owe and have my escrow officer put together a net sheet at the listing price.
This way they can see what those charges will be at the current listing price and terms that we agreed on.
Big Stuff. Do you know how many calls I get from people that have gotten this document too late as part of their escrow package? Those calls are way more than they should be.
Now, the best of us miss stuff. But missing this is like forgetting to clean yourself after you used the bathroom.
After offer’s are received , I as your realtor, will send you specific net sheets based on the offer(s) that we will be responding to.
Those net sheets are very valuable and give the home sellers’ insight into what the offers contain and where those final closing statements will end up.
If your agent is waiting until you are in escrow, and after the buyer has inspected the home, gotten feedback from everyone within their sphere of influence, and asked for things and had received things from the gracious seller, in this case, they have waiting too long in my my opinion.
That is the right prescription for a upset seller and maybe terms for the agent getting quite the a*s chewin!
Transparency is key my brothers and sisters. Stop the nonsense and trust me when I say the seller’s need their net sheet and they need it at the beginning.
They then need net sheets for each of the offers received. And if there are some additional credits, requests for repairs fulfilled that are going to impact the seller’s bottom line, guess what? Yes - they are going to get a new net sheet based on the new figures.
After we counter each offer and get those last ones standing, the net sheet process will be fulfilled again, I will have escrow produce them until we have one last “offer” standing, which the seller will accept.
In this way, the seller is set for success without any surprises on the horizon.
Here is another thing that is worth mentioning. I know agents, I work with a lot of agents, my clients come first. I have no one in this industry that is my friend. I am 100% client focused and committed.
Even the agents in my office, they know that I am not one of those “partying” agents. I am concerned with giving my sellers and home buyers the best service. I’m not into playing buddy buddy with the agent in the cubicle next to mine.
To a fault I keep to myself with the exeception of the local networking group for top producing realtors. The rest which involve imbibing, Me myself, I don’t tie up with nonsense.
Time is valuable. Mine is as valuable as yours, and visa versa. So do not let us muddy the water by not doing something as simple as creating a net sheet. Heck, the agent only has to send an email to have one generated to their escrow offer. They are glad and happy to do it.
The local agent, the one who states they sell more properties in a certain neighborhood, they are nice. They do a great job. But, I have found that not being a part of that listing machine and coming in from the outside seems to be a bigger benefit for my home sellers than being someone who has dug in deeper than an Alabama Tick in a specific section of town. When I come in, I have the listing and they know that I’m not one who is going to owe them from our latest golf game - I don’t play and I don’t play with them.
What about the local agent selling the home. I guarantee, that won’t stop any buyers from wanting to offer on your home and they will go with the agent who will work for them to do so.
They want to buy your home, I am here to sell it to them, through themselves or through their agent. I know what they will tell you. But those days of Huckleberry are no more. There is no person behind the curtain and the veil is totally transparent.
I’m Connor with Honor and I will be of great service to you and yours.
Do you want to know what my value in real estate is? Click here and have a great day.
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