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When Two Buyers Want to Buy the Same House in Midtown -- What Should an Agent Do?
I work with such a wide variety of clients that it's rare to run into a situation where two sets of buyers want the same house, but that's what happened last week. I had showed a Midtown home to a charming couple, we'll call them the Andersons, about three weeks ago. However, the Andersons decided to pursue an REO that ultimately sold way over list and at a price outside of their comfort zone.
While I continued to show the Andersons other homes, I called my new buyers, we'll call them the Johnsons, and told them about the home in Midtown, which had a price reduction. The Johnsons fell in love with the Midtown home and wanted to make an offer. The deadline for offer submission, due to a multiple-offer situation was three days away. I suggested they wait until day three to write the offer, after I had a chance to review how many other offers had been submitted with the listing agent.
Meanwhile, wouldn't you know it, the Andersons called to say they had changed their minds and they, too, wanted to write an offer on the Midtown home. Holy, toledo. There was no way I could adequately represent ... more

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