Debe Maxwell has written a terrific post on continuing to show homes when they are under contract, and she makes some great points.
STOP! Please Stop 'Selling' My House!
How often have you heard those words come out of a Seller's mouth?! I can honestly say that I've never heard a seller utter those words!
Many agents will 'call you off' for scheduled showings immediately following their sellers going under Contract with a buyer. I always ask if the seller minds if we do show so we can bring a back-up Offer if my folks love the property. Believe it or not, we're turned down about 90% of the time!
*Do I want to know that the property already has a negotiated Contract? Yes, of course but, do your sellers a favor and KEEP SHOWING!
I recently had a dozen Offers on one of my listings and even had a bidding war on the BACK-UP Offer! We have no provisions for a second back-up but, I did, very nicely, tell the remaining agents that we would love to be able to contact them if both deals fell through.
I passed along Offers to these sellers, who continued to allow showings for weeks, well beyond their Pending date. Why, you may ask? Because, according to recent local stats, 35% of FIRST deals fall through! Without a back-up Offer, the 'newness' of a just-listed property wanes when it has to go back on the market a second time. Rest assured, your chances of getting as outstanding an Offer as the first one, is fairly slim!
From a buyers' perspective, why NOT submit a back-up Offer? It doesn't cost anything AND it saves a second bidding war and mad rush to compete as well.
Sellers, why NOT seek that back-up Offer? If it takes 3-4 weeks, so be it! If your first buyer has lending issues, which include faulty appraisals, you have a second ready, willing and able buyer in line to move right into the buyer position.
© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | STOP! Please Stop 'Selling' My House!