Reacting To Multiple Offers

Hi Karen Fiddler, Broker/Owner I agree. Only tell other agents if an offer has been accepted. Otherwise, nothing at all. How to show or set up an appontment sure, but nothing else.

Bill Roberts

Hello karen Fiddler, I am seeing all multi offers on all my listings, wait I do not have any anymore.  I do not say how many, one of my buyers that we wrote on 2 weeks ago the agent came back and had 58 offers and we were $50,000 over and did not get it.

The nature of the business n our are is not a matter of multiple but grateful for any one

Precisely Karen Fiddler, Broker/Owner "I represent the seller! If I have no offers or a hundred, it does my sellers no good to disclose that.....so I don't."   Happy I found this - IMHO it should have been "Featured" - Re-blog!

Most agents in my area do disclosure that they have multiple offers and when the offers are due, even those that do not have any offers tell you that they have.

I don't disclose how many offers my sellers may have on a property but like you said, I will tell them if the homeowners are no longer accepting them. Or if it's looking like they are close to accepting one I will give the agent a deadline to submit an offer if they are serious about viewing the home. I've been on the buyers side many times where a listing agent told me their sellers were not under contract so I show the home which the buyers love only to submit an offer a few hours later and find out the sellers had accepted an offer in that time. It's just a giant waste of buyers and buyers agents time if you don't disclose at least enough information to them that they don't go through the entire viewing/offering process needlesslly. 

Karen I appreciate your kind words and understand your position, normally I would take a hard nose stance like you... in this instance I felt I needed to be more fort coming since I knew that the offer which was accepted was a lot less, then when we are working on the Request for Repair I suggested lowering the price instead of credits which will help everyone in the long run outside of the Broker who gets a little less... Hence as a preemptive strike to the very disappointed buyer and buyer's agent I felt I owed an explanation, Endre

Karen, 

Every agent handles this different. When representing a buyer, I'm going to ask all the question i can and learn what they will tell me.  If the listing agent declines to answer, I learn some things, if they tell me every last detail, I have an idea how to prepare our offer, or not to bother as the case may be.  

As a listing agent, I like to let others know when we have multiples as it generally results in a stronger offer from subsequent buyers, but I also let the first buyer's agent know that others have come in, so they can consider making any adjustments.