Offer on a house

Do real estate agents have to submit all offers to the buyer? Could the agent say that an offer is too low and they're not submitting an offer until the buyer increases their price?

Re: Offer on a house

Agents are obligated to present all offers to the seller, regardless of how low they are. It's ultimately up to the seller to decide.

That being said, it's not unusual for an agent to recommend that you raise your offer if he/she thinks it's not realistic or will not be successful.

Of course, if you are making an offer through the listing agent, you always have to keep in mind that the agent is working for the seller, not for you. So their goal is to get the best deal for the seller. And they generally know what their seller is looking for, in terms of price, and it is often unpleasant to have to bring a very low ball offer to a seller client that you know will not be well-received. Nevertheless, every offer should always be presented to the seller as soon as possible.

As an aside, if you are going through the listing agent, you should consider getting your own buyer's agent. I think it's invaluable for buyers to have their own buyer's agent, who can pull comps and advise you, as the buyer, on value and offer strategy. A buyer's agent can also advise you on due diligence you should do on a house (on issues other than price/value). Given that the market on LI has become more competitive (as prices come up and inventory goes down), I think having a buyers' agent is even more important.