What do I do if the Sellers asks for my HIGHEST and BEST offer?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

Many sellers are holding off selling their homes during the pandemic, There are a few sellers that need to sell though, They are being rewarded with lots of offers. One of the steps a lot of sellers in NH are taking, are asking the buyers for their highest and best offer.

 

Many buyers do not know what this means. Take one of my new listings. The sellers are retiring to Florida and waited until spring to sell. They already bought their Florida home and wanted to come back in spring to clean out their NH home. With the virus, they drove here instead of flying. They packed up the home and got it clean, They can not afford to keep up two homes long. Despite the virus they listed with me and asked for a quick sale. Being vacant was easier in keep safe distances. 

 

I got my trusty list of buyers out and set up showings spaced apart. Buyers were asked to wear a glove to open doors and cabinets. By the end of the day there was 6 offers. The buyers were asked for their highest and best offer by 7pm as the seller would choose an offer then. I was puzzled at how many buyers did not know what it meant. Some with agents who countered worse than their initial offer. 

  

IN SUMMARY Highest and BEST offer is just that, make your your highest offer. By best, it looks at the other factors such as closing date and contingencies. Reduce or eliminate contingencies. Some skip the inspection. Others reduce the inspection from 10 days down to 3. Others include pre approval letters. Others will skip the FHA mortgage and go conventional. There are many options. 

 

 

IN THE END the best way I find is to call the listing agent and simply ask what the seller is looking for. It is simple, almost too simple because many do not. Having a buyer agent who is well experienced is a must. There are all kinds of agents and why not chose the best first. Not the biggest or the newest or the one that charges the least.

 

 

THE BOTTOM LINE is to know how important it is that every Buyer or Seller should not just choose any agent, choose the BEST agent for the job. Having an agent that works for you is a must. Support your local businesses. 

 

My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 34 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

 

 

We stand by you through every step in selling your home
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Topic:
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New Hampshire Hillsborough County Manchester
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Rainmaker
3,365,762
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lucky you, Scott... you can at least still show houses. That's been stopped in my county effective this morning... no real estate activities that require an  agent leaving his/her home.

As for highest and best... what I tell my clients is decided what is the most this house is worth to you and ask yourself how you'll feel if you lose the house to a higher offer. That often clarifies thinking.

Mar 26, 2020 05:10 AM #1
Rainmaker
3,547,294
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Scott - in a competitive market, regardless of any other circumstances that may come into play, means buyers(and sellers too) must stay current with how business is handled. 

Having knowledgeable, local real estate representation is one of the necessities in my opinion.  That's the smartest way to sell or buy a property.  Anytime.  

Mar 26, 2020 05:30 AM #2
Rainmaker
5,264,969
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Scott Godzyk buyers who have been looking for the right property surely know what highest and best means.... they catch on soon enough.

Mar 26, 2020 05:50 AM #3
Rainmaker
1,526,396
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Highest and best should address all aspects of the offer, including but not limited to price and contingencies. Calling the listing agent to find out what is important to the seller is a smart move.

Mar 26, 2020 05:55 AM #4
Rainmaker
5,675,559
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is timely information to share. Prospective purchasers need to understand the current market conditions.

Mar 26, 2020 08:29 AM #5
Rainmaker
3,344,581
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Scott,  I agree with Kat Palmiotti on her comment.  I am still seeing people using this language in our area.

Mar 26, 2020 09:14 AM #6
Ambassador
3,188,324
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Some poor agents don't believe in conversation and that is just another example of not serving your Buyer's best and final interests... If they have more than one offer it is rare to have 2 offers that are identical. Which offer is best? I don't care to bid against myself...

Happy Thursday Scott Godzyk (I will now get off my soap box 🧐

Mar 26, 2020 09:57 AM #7
Rainmaker
2,678,121
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

This post is a testament to how a professional agent can make all the difference in marketing homes during difficult times, Scott.

Mar 26, 2020 03:23 PM #8
Rainmaker
787,161
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Some with agents who countered worse than their initial offer. 

LOL

take yer best shot outta the gate! 
it may be your ONLY shot . . .

Mar 26, 2020 04:37 PM #9
Rainmaker
3,121,429
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

That is a good way to look at it and explain to buyers Nina Hollander. Here in NH, non essential business closes tonight at midnight.    

Mar 27, 2020 05:08 AM #10
Rainmaker
3,365,762
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk welcome to the "club," Scott. Our "quarantine" is now 24 hours old... I've never seen the city so quiet and desered. Stay safe and stay well.

Mar 27, 2020 05:34 AM #11
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