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You’ve got company!

By Debe Maxwell, CRS

Real Estate Agent with Savvy + Company (704) 491-3310 228209

August 15, 2017 10:20 PM

You’ve got company!

You've got company! We listed a wonderful home recently and knowing that it is one that would be in great demand, we did our pre-marketing, including planning an Open House and rolled out the red carpet for our guests. During our conversations with guests, we made certain that we would happily work with their agents.

We had two guests who said that their agents had actually sent them to the open on their own. One of them said their agent had said, "You'd (meaning us) be welcoming and give us thorough details about the house - and to listen!"

Yes, this is leading to a point...

Following the open house, the buyers who had agents both requested 'second showings' for private tours with their agents. We had other interested parties but, these two people were buyers who we had met and wound up making Offers.

More company

After the second Offer came in, one of the agents who had sent their buyer to the Open House and returned for a private showing, phoned me to say that her buyer had instructed her to let me know right away that they're coming in with an Offer. I said simply, "You've got company!"

She said that her buyer probably wouldn't want to compete - "This has happened before and they don't like bidding wars." I told her to tell them to just put their best foot forward - it doesn't cost them a thing to submit an Offer.

She phoned me back in about 5 minutes to ask that I have the seller wait to make a decision - she couldn't believe that they were actually submitting an Offer during a bidding war. She added that the reason that they had was because I didn't use the dreaded words 'bidding war!' "He loved that you said, 'You've got company' and it made him feel like he wasn't 'going to war!' He also had an ah-ha moment - that it wouldn't cost him anything to put in an Offer!"

Who knew that such a simple statement that wasn't the current catch phrase in the world of real estate, was actually what would bring my seller another very good (winning) Offer?!

#BeOriginal

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Sheri Sperry - MCNE®

Coldwell Banker Realty - Sedona, AZ

(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Debe,

This is a great example of how buyers should be treated! AND, you did a very nice job of presenting it to us. Hi hope more buyers got to see this and realize that it does not cost anything to put in an offer. You never know!

Aug 16, 2017 03:03 PM

Debe Maxwell, CRS

Charlotte, NC

Susan McCall - - Compass Realty Solutions

Compass Realty Solutions - Portland, OR

Listing and Buyer's Agent

You've got company, and welcome to the party. Makes it sound like fun and not scary drudgery♥

Aug 16, 2017 07:04 PM

Debe Maxwell, CRS

Charlotte, NC

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Absolutely, Carol Williams! I tell my buyers this too - even when the LA tells me we're "going to be in a bidding war." I say, "Well, we've got company but, we've got this!" It works not to scare buyers and it's oh, so helpful to my sellers when the BA passes that along too!

Aug 16, 2017 07:30 PM

Carol Williams

Wenatchee, WA

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Thank you, Ron and Alexandra Seigel - I'm in agreement; it's not something that most people want to get into.

Have a great evening!

Aug 16, 2017 07:34 PM

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

That's true, Brian England - they envision themselves paying too much or well above what it would actually take to win a bidding war. It's better to keep it light and non-threatening!

Aug 16, 2017 07:35 PM

Brian England

Gilbert, AZ

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Great analogy, Joe Pryor! I like the southern approach - welcoming and non-confrontational. It works for me!

Aug 16, 2017 07:36 PM

Sybil Campbell

Fernandina Beach, FL

Referral Agent Amelia Island Florida

It sounds like the right choice of words worked well for you Debe!

Aug 16, 2017 07:47 PM

Debe Maxwell, CRS

Charlotte, NC

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Hi Amanda S. Davidson - thank you so much! Yes, it's so much more 'welcoming' when you say something non-threatening. I will say that yes, we're under Contract and yes, the buyer who liked what I told his agent, is going to be the new homeowner!

Aug 16, 2017 08:02 PM

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Well, thank you, Sheri Sperry - MCNE®! I think buyers often think they have to put money down with an Offer - that little comment helps them realize it's easy-peasy and there is no pressure.

Aug 16, 2017 08:03 PM

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Hi Susan McCall! Thank you and yes, non-threatening conversation in any business helps accomplish far more than 'scary drudgery!'

Aug 16, 2017 08:06 PM

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Yes and it worked really well for my sellers too, Sybil Campbell!

Have a great evening, Sybil!

Aug 16, 2017 08:07 PM

Jim Harper

Atlanta Communities Real Estate - Marietta, GA

Debe, you realize we're all going to steal that phrase, right? Love your approach and thank you!

Aug 16, 2017 08:30 PM

Debe Maxwell, CRS

Charlotte, NC

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

LOL That's absolutely fine, Jim Harper - it works for me so, I'm sure it will work for you too!

Aug 17, 2017 05:36 AM

Morris "Bill" Austin

Team Price Real Estate - Dripping Springs, TX

Exceptional service is my standard expectation.

I like the phrase and keeping it low key. I'm not trying to throw rocks here but here's my question and comment.

Ethically we are supposed to treat all parties fairly at all times, right? So by letting this "sceond offer's agent know" there is another offer by saying "you've got company" unless you notified the first offer's agent of the same did you treat the first agent and buyer fairly. Didn't you give the second agent an advantage?

There is also a possibility you might harm your client in that as you said in this case the second folks almost didn't submit an offer. If they had not sent an offer might you have "harmed your own client"?

I get calls on almost every listing from agents asking if I have any offers. I let them know I/we are glad they are interested and that the property is still available. We look forward to receving their offer and I will present it quickly. Some persist and even get anoyed and continue to ask the direct question.

Personally, my experience is that most folks don't want to get into a bidding war (call it what you want). I have had several buyer clients skip on houses because somehow we found out there were already offers. I see agents that post to the MLS in agent remarks "multiple offers received". Are you possibly harming your client by doing this?

Just my thoughts...

Morris "Bill" Austin ~ REALTOR® ~ Team Price Real Estate

Serving Sellers and Buyers Successfully Since 2007

Austin Texas Metro ~ 512=709-6343 ~ bill@teamprice.com

Aug 17, 2017 06:32 AM

Debe Maxwell, CRS

Charlotte, NC
Sharon Tara

Portsmouth, NH

Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

Hi Debe

I have had a few buyers who really did not want to deal with multiple offer situations, which is darn hard to do these days. I like that choice of words!

Jeff

Aug 17, 2017 06:47 AM

Debe Maxwell, CRS

Charlotte, NC

Sharon Tara

Sharon Tara Transformations - Portsmouth, NH

Retired New Hampshire Home Stager

I'm not an agent. I'm curious to hear the answer to Morris "Bill" Austin 's question about notifying the first offer people. He makes a good point about one side knowing they have competition when they make their offer and the other not knowing. I'm assuming when this happens that the first offer people are notified and given the chance to change their offer if they want to??

It's all very awkward and unpleasant from a buyers standpoint and nobody wants to be in that situation (except the sellers of course). I've been there as a buyer and won the "war". However, I still wonder to this day if there really was another offer. As buyers it sounds like a ploy to make you offer more.

I would love to be on the seller side of this situation at some point.

Aug 17, 2017 02:15 PM

Debe Maxwell, CRS

Charlotte, NC

Sharon Tara

Sharon Tara Transformations - Portsmouth, NH

Retired New Hampshire Home Stager

Oh just to be clear....I love your phrase of "having company" and the line about not costing anything to put in an offer.

Aug 17, 2017 02:16 PM

Debe Maxwell, CRS

Charlotte, NC

Mary Hutchison, SRES, ABR

Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO

Experienced Agent in Kansas City Metro area

No one likes the term bidding war...I don't like to use it myself! your choice of words got the message across but in a pleasant manner. Something we can all relate to

Aug 18, 2017 08:24 PM

Debe Maxwell, CRS

Charlotte, NC

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Hi Morris "Bill" Austin! Yes, absolutely they were all notified that we either had company or company was expected and to put their best foot forward - all at the direction of our sellers. I don't ever make that decision on my own and I also discuss this well before we receive Offers. We set a plan and even after receipt of the first Offer, we reconvene to be sure that they are still good with the plan. If not, we discuss other possibilities and set a new plan.

As for running off buyers - I don't want buyers to submit Offers who don't really want the property. If you REALLY want to buy a particular home, you want to know if there are multiple Offers. As well, if you're working with a good agent, that agent is going to advise you that is absolutely costs you nothing to submit an Offer - "Let's do this - why not?" What do they have to lose? If an agent isn't telling their clients this, they're not good negotiators and in my opinion, don't want to show their weakness. Instead they say, "Oh, I saw in agent remarks that there are multiple Offers - sorry!" Seriously, I've heard that and that doesn't do THEIR client justice either - it goes both ways!

Like the handling of multiple Offers, if anything is written in agent remarks (by me), it is approved by my sellers - period! They are given the scenarios about asking for highest and best also - THEY make that decision, not me! I tell them the pros and cons of a variety of ways they can handle Offers. When they decide how they wish to proceed, I implement it.

In the scenario in the post, it helped my sellers get not just the highest but, the BEST Offer and the way that they handled negotiations was the exact way that I would have advised too - non-threatening and welcoming to all buyers!

Aug 18, 2017 09:56 PM

Jan Green - Scottsdale, AZ

Value Added Service, 602-620-2699 - Scottsdale, AZ

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great way to put it! In Arizona buyers have to notify sellers if they have offers on multiple properties at once but the seller has a few ways to handle multiple offers, but they are always notified they "have company!"

Aug 26, 2017 09:21 AM