How to Handle Multiple Offers as a Seller
Here’s how to handle having multiple offers made on your property as a seller.
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How do you handle multiple offers on your property as a seller?
As the listing agent, it's my job to notify all other agents who may have shown the home or plan to in the near future that there have been multiple offers made on it.
At this point, the seller decides to either accept one of those offers now or respond to all potential buyers by calling on them to give their highest and best offer by a specific date and time of the seller’s choosing.
By calling for the highest and best, buyers will begin to consider putting forth offers that are above the asking price.”
By calling for the highest and best, buyers will begin to consider putting forth offers that are above the asking price, netting the seller more money than originally planned. When we arrive at that deadline period, we provide the seller with all of the revised offers that came in, allowing them to select the one with the best terms.
Remember: The highest offer is not always the best offer. At this point, the other buyers can elect to be held as a back-up in the event that something were to happen with the winning buyer.
Due to our demanding market and low inventory, we’re seeing multiple offers on a ton of our listings. Give us a call, text, or email for a free estimate of your home or a guaranteed offer. I look forward to talking to you and answering real estate questions you may have.
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