How Long is TOO Long To Wait in Negotiating a Real Estate Contract? - Question asked by a Kansas City Home Buyer
You can always tell when the Kansas City real estate market is getting busy. It seems as real estate agents get busy in Kansas City, it takes longer for some to return phone calls on properties and the time to negotiate on a real estate contract takes longer.
Two months ago when I'd have a real estate inquiry on a home or submitted an offer, I would typically hear back within a couple hours. This week is another story. Lately, I'm lucky to hear a "Thank You I received your offer" within 24 hours.
Monday afternoon I submitted an offer to a listing agent. When Tuesday evening rolled around, my buyer started getting anxious. I called a couple times and never heard anything back from the listing agent. When Wednesday rolled around, I started faxing and e-mailing a copy of the offer every hour starting at 8. By 11, the agent responded that they received and would get back to me. Here it is Thursday and I still haven't heard anything back.
On another offer, I have received 1 follow-up phone call that the offer was received. I haven't received any communication since.
How log do you think is Too long when waiting for communication in negotiating on an offer to purchase real estate?
I'm hearing from many of my real estate colleagues that they are also receiving many phone calls and inquiries and they don't have enough hours in the day. My belief is to communicate somehow back to my colleagues and buyers within 2 hours.
Let me know what you think?