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28 Comments on If I list my house & receive multiple offers, how will you handle it?
Hi Debbie,
Thankk you!
Good morning Dorie. What a fabulous post this is! You clearly describe the process and address all the concerns and as always you write well. Suggested.
Dorie, excellent information on the shift we are experiencing in the market in many areas of the country. What I notice some sellers in my area don't get is the condition part. Deferring maintenance in a home can defer the sale as well.
Great blog, Dorie! Multiple offer situations need to be addressed at the time of the listing. Glad Austin market has shifted. Still waiting here in Kerrville :)
Hi Dorie,
Getting multiple offers on a home is a very good thing. The prices were set before the home went on the market probably by a market analysis. That means the home is at fair market price. No need to change that. But the sellers always want more. :-)
Have a good day in Canyon Creek and Austin, Texas.
Best, Clint McKie
Ultimately it's the seller who accepts or declines the offer, your role as a professional is to advise them the right way. Great post Dorie.
Good Morning Dorie, in some markets, low inventory results in multiple offers. Sellers must keep in mind that they're in control and need a professional such as Dorie Dillard to guide them through the multiple offers scenario. I've had one seller who thought I should reduce my commission since the house received multiple offers within 2 days on the market! Receiving multiple offers does not mean it's under or overpriced but just right. Great post!
Dorie, when I was commenting above, "suggest" button wasn't there, came back to suggest it!
Dorie, a great topic, and having lived through so many STRONG buyers markets, this is a lovely problem to have. Cash can be king but with consultation with you, the right answer, which offer to choose will come to the Seller.
Hi Dorie:
Sellers will do well to listen to your sage advice. Sellers have to be made to understand that home prices are set correctly when prospects request showings. This is proof of correct pricing, not proof of underpricing. No showings, no sales. Will they ever get it? I like your grab-them-buy-the-ear approach. LOL
I agree. Being fair and honest to all parties, while maintaining your duty to the seller, is not easy for some agents. It takes experience to be able to create an atmosphere where buyers actually make an offer and not walk away when they hear that there are others that want the home too. Thank you for sharing.
Hello Dorie, Congrats on the feature. You really do offer great advice and the way that you tell your sellers WHY multiple offers came in is brilliant. I hope that all of your listings end up with multiple offers on them!
Dorie, mishandling a bidding war is such an easy way to damage your reputation, and sellers need an experienced agent who knows just how to manage things. Great advice.
I've been on both sides of the multiple offer situation lately. On Saturday my buyers wrote an offer on a home and found themselves in competition with another buyer. We had written a good, strong, over list price offer with a flexible close date. The sellers took the other offer, which I was told was cash. Unfortunately, it was a cash contingency! The CASH was in the house they were selling, which, by the way, hadn't sold yet. Had this been my seller, I would have warned them that it "ain't cash til the other house closes". Long story short, my buyers found a much better property, so it worked out for them. I only hope the other sellers have the same good luck.
Dorie - All to often the public sees agents as interchangeable. But the difference in the practices and procedures different agents take can mean the difference of thousands of dollars. I recently had a discussion where I personally saw a buyer over pay for a property to the range of $40,000. That's a lot of money. Knowledgeable agents are well worth pursuing.
Dorie, A seller could be in no better hands than you with one offer or multiple offers. Congrats on the feature.
I just listed a house recently and had 4 offers in less than a week. None were mine or in my office. You must be professional and of course let the seller decide.
With a good Realtor, multiple offers should be a breeze and handled professionally. Great post!
There is nothing more flattering than receiving multiple offers on your home. And Austin home sellers are well advised to use an experienced agent like you to help them get those multiple offers and to handle them efficiently when they come in.