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