I tell my sellers all the time, "We will keep marketing your house until it is sold and closed." I can personally attest to seeing 8 different parties who wrote backup offers end up with the house within a 3 year span.
Like you, whenever possible I work hard to generate a back-up offer for my sellers also.
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!