About Reviewing Offers on a Future Date

Good afternoon 

Thank you for sharing your information with us 

Have a great day.

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents , Wonderful Post! Thank you for keeping us, and your clients up to date :)

Good points for the pros and cons. We recently did this with one of our listings once we realized the home was getting lots of calls to put in an offer. Giving everyone a deadline helps manage the process and gave all buyers notice to submit their highest and best. 

Great points for doing this, and not...and when. Sometimes things don't go the way the seller hopes for, but our market has been busy and buyers and agents seems to appreciate having a few days to see the home and submit an offer, instead of it disappearing within hours.  The are definitely times this is not a good strategy and sellers need to understand that.

Hi Elizabeth- Since I'm not an agent, I enjoyed reading the pros and cons of doing this. I read your comments to Jeff and Debb and like your reasoning. No buyer wants to have to wait days and then some because there is date for all offers. I like what you do and read them and get it done. 

                               Thank you, Elizabeth. 

I've seen agents put a date to get offers in on the MLS but now it's a couple of weeks or more past it, and the home is still "active" for sale and that agent has not taken that date off the MLS. Now THAT does not look good for the listing.

I can see why Kathy chose to highlight your post this week.....great job!

Elizabeth, it CAN and often does not benefit the Seller by taking/holding offers for a long period of time.  We do it over a weekend, with offers reviewed Sunday evening, and response on Monday.    You can lose your best offers by waiting too long. Great post.

Elizabeth sometimes it works and some times it falls flat - depending on the market. Great list of pro's and con's - well done.

My favorite line from your post? 

Buyers do not like multiple offers. No buyer hopes a million other buyers will bid on the same house. 

I'm not an agent but I have just recently sold and bought. 

I did not use this practice as a seller and I actually avoided, as a buyer, a couple homes who did it. (Pretty much for the reasons you mentioned)

I read the post on your site.  You make a valid point.  If there aren't any offers, then the seller has exposed his hand.  And if a listing agent offers a higher list price than the seller thinks is wise, then not having any offers makes the listing agent appear uneducated!