Multiple Offer Situations: Setting the Stage Early

Multiple Offer Situations: Setting the Stage Early

The bidding wars in our current real estate market are highly indicative of a rebounding market, but with multiple offers come an elevated level of stress for realtors and clients alike. A successful means to manage the high stakes is to be open and honest with clients and keep a comfortable line of communication open with them.

It starts from the first steps of the process. In a listing presentation, when your CMA is given, explain what a multiple offer situation is if their home falls into the category that has been receiving them in your area. Showing national and local examples of a multiple offer with supporting statistics makes the possibility a reality. Seller’s have the natural reaction to leap at the first offer that is submitted, but as an agent, be the voice of reason and analyze all details so that in the end, your client gets the best all around deal. Price tag is not the only item to take into consideration.

"Manage a Multiple Offer Market," RISMedia (July 29 2012)

© Copyright Information Inc. 2012

Comment balloon 3 commentsJenifer Lower • August 06 2012 06:48AM

Comments

Great advice to cover this potential situation upfront with sellers so they know their options. Regards Dave

Posted by David Grbich, Orange County Real Estate - 949-500-0484 (Realty One Group - www.FindCARealEstate.com) about 6 years ago

We are also experiencing more multiple offer situations...mostly because our inventory in certain price ranges is very low. I always try to set the stage at the listing presentation or when I first meet with a buyer, so they are prepared.  Some how they don't believe you, when you get in a situation and you say, "this happens all the time". Jennifer, I have some clients that came from your area...I had never heard of Bozman before.

Posted by Pam Burzynski, Bethlehem Area Homes, Grace Realty Co. Inc. (Grace Realty Co. Inc.) about 6 years ago

Price tag is not the only item to take into consideration. <---Thank you! I say this ALL the time because it's so true. What's the point of taking a higher offer when the Buyer will cause issues or flake on you as opposed to a bit less but gaining peace of mind with a solid Buyer and/or competent Buyer's Agent.

 

Posted by Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR, Top Listing Broker (BROKER of Green Realty Properties® - 954-667-7253) about 6 years ago

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