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Multiple good counter offers
Debe Maxwell, CRS
What can be done? You present them all to the seller and help them make the right decision about which one to accept.
Your broker will guide you when you have your first listing with multiple Offers.
As an agent you are going to help the client to rank them in order of preference to the client. You have to make sure the client understands all the contingencies in each one and how they compare. As an agent we follow our client's instructions, so we don't decide, however much a client asks us to. We can give advice, but it is their decision how to repsond and which offer to accept.
You can tiptoe through the tulips
What can be done or what must be done?
We are required to present all offer to the seller.
I wish you all the best in your studies.
Lay them on the table in front of the Seller, review each one.
You present them all and point out the good and the bad of each. Then, the seller decides!
counteroffer asking for "highest and best"
You can present them all to the seller and then recommend they contact each client to let them know there are "multiple offers" on the table. Their clients should present their "highest and best" offer by a specific deadline, at which time your seller will decide which one to accept (if any).
All offers should be submitted to the seller. I present a spreadsheet to the seller highlighting the key and pertinent points of each offer for comparison. There will be a discussion that takes place and then there are options I discuss with the seller who will make a decision how to respond.
Select the best one.
List the advantages and disadvantages of all offers. Present them to the seller with your recommendation.
Go back to all those who offered and ask for their highest and best offer unless, of course, there is 1 offer that stands out as the best
All the offers get submitted to the seller, whether they are good or not. The next steps are dependent upon the specific sale, seller's needs, etc.
Select the best one, considering terms and price.
Cesar Contreras - if you can go over the pros and cons of each, better. If not, let seller pick up the one which he or she thinks is the best.
Discuss the offers with your client. More money does not always equal the best deal. Help your seller decide which offer best suits thier needs. Your broker will help you.
It is the seller's choice not the agents. Present all offers.
Ask for highest and best, evaluate and let your client chose.
Cesar Contreras Many good answers.
All good answers here.
I beg your pardon? Are you a licenced realtor? If so, you shouldn't have to ask this question... Go and retake the course.... or find another profession.
A Happy Dance?
Consult with seller and advise regarding 'assurance of closing.' This is directly related to the lender the buyer has identified.
Prioritize offers based on cleanliness and absence of escape hatches.
Respond to all with 'Highest and best."
Continue negotiation with seller priority as primary goal. In some cases buyer may be directed to find other financing.
Identify and secure 'back-up.'
Inform winner they need to perform.
.....or some variant of the above or none of the above.
Cesar Contreras I would advise the seller to carefully consider more than just the price when receiving multiple offers. Terms, time frame, etc. all play when considering an offer.
Advise the seller of the pros and cons of each offer.
A meeting to finalize is in order. Common sense & verification will prevail
The listing agent goes offer all offers with the seller looking at both price and terms. They can ask for highest and best to see if they can get higher, can choose one, or counter one or all.
Present all offers.
Consult with your seller, ask for highest and best and compare the terms, not only the price e.g. timing, cash or loan, etc.