Set the Stage Early for Multiple Offers
July 30, 2012
Bidding wars on homes are an indicator of a rebounding market, but they also can become a stressor for agents that have not had to juggle multiple offers in many years. They will find it easier to manage this kind of buying and selling environment if they are open and honest with clients, keeping the line of communication open at all times.
That responsibility begins with the listing presentation and setting the asking price for a home, since the properties that are priced appropriately are the ones that will generate multiple offers. Agents should support their pricing recommendations with national news, explaining how that activity affects local sales.
Agents also can provide clarity to their clients and be the voice of reason as the offers come pouring in. For example, while sellers are likely to jump at the highest bid, agents can analyze the details of an offer—often concluding that the best deal is not necessarily the one with the biggest dollar figure.
"Manage a Multiple Offer Market," RISMedia (July 29 2012)
© Copyright Information Inc. 2012
Updated: February 19, 2019