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Archive for June, 2015

VIDEO: How to handle a multiple offer situation

Thursday, June 4th, 2015

Having multiple offers on your property is a wonderful problem to have, but it’s not always easy to determine which offer is the most beneficial. Today, we discuss how you can make the most of these situations!

Every seller’s goal is to generate multiple offers on their listing. When I have the privilege of presenting multiple offers to a seller client, I coach them through the process to help them make the decision that’s best for them.
Once multiple offers have been placed on your home, we first want to go back to the agents who are representing the buyers and thank them for the offer and let them know that we have received multiple offers. We then tell them to have their buyer clients bring us their best possible offers in terms and price. Rather than have the seller stick their neck out and put in a counteroffer, we are able to get both buyers blindly bidding against one another.

Almost 99% of the time the seller is pleased with the offers they receive. Whichever offer is the highest and best is the true value of your property at that moment! However, it’s not always wise to simply select the highest offer. When you look at the buyers’ offers, price isn’t the only thing you look at – you need to look at terms and financing as well. If one offer allows for a 30-day close and the other is 60-90 days, it may be worth it to take less money because the conditions are better.

If you have any questions about making the most of multiple offer situations, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love help you in any way we can!