Here’s how I handle multiple-offer situations with my clients.
How do you help your client pick the best offer? In our current market, it’s not uncommon for sellers to receive multiple offers. Choosing the best deal isn’t as simple as choosing the highest price, so today I’ll explain what to consider when picking between offers.
“Put all the offers in a spreadsheet and go through it with your client.”
The truth is that the best offer is the one that fits your client’s needs, but what does this mean? Recently, I had a client whose home had 24 showings in 24 hours. Soon, they had 11 offers, and most of them were over asking price. The client was ecstatic, but there’s more to a good deal than price. For example, you should always pay attention to the appraisal. The closing date can also be an area of concern.
I recommend putting all your offers in a spreadsheet and going through it with your client. This will make the pros and cons of each option clear to them. It can be a tedious task, but in my experience, **this is the best way to make sure your client gets what they want. **
My team always tries to communicate with our buyers’ agents to make sure both parties are on the same page. Once we have the search narrowed down to three buyers, we call their agents and ask them what they can do to make their offers better. In this market, many buyers are willing to do what it takes to secure the home.
If you have any questions on how to handle a multiple-offer situation, please call or email me or my team. We’d love to help!
