Tips for handling multiple offers when representing a home-seller.
It is not a perfect science, but here are some ideas and an example of how a scenario played out.
In the spring of 2012, I listed a meticulous in Canyon Lakes. The sellers were referred to my by Fidelity National Title. The home was located near the Bishop Ranch Business Park in San Ramon, CA.
On broker tour, it was obvious we were going to get interest, so when agents asked when we would look at offers, I said after the open house on Sunday.
Rule #1 - I never set a date on the MLS to look at offers. I always wait to see the response from broker tour, and if need be, the first open house. Setting a date can backfire if no offers come in. You may also scare away potential buyers. Rule #2 - Consider a multiple counter offer. Rule #3 - Do what you can to get back-up offers.
In our case, we got 7 offers, countered the top three and drove the price up above the asking. Offer #1 changed their mind, so we went to back-up #1. They did an inspection and got spooked by moisture under the home. Offer #3 got spooked about #1 and #2 pulling out. Now where rule #4 comes into play - staying in touch with all the agents who made offers. So, we picked the strongest of the remaining offers and proposed that they match a price set by the sellers, or we go to the next offer. They agreed to the proposal, and it closed escrow at a price over asking.
For questions about this example, or any other real estate matters, feel free to contact Glenn at 925 735-7555 or on his cell - 925 915-8300.
Selling Your Home in San Ramon, CA? - Multiple Offer Example of Home Backing to Canyon Lakes Golf Course
SYNOPSIS: Tips for handling multiple offers when representing a home-seller.
It is not a perfect science, but here are some ideas and an example of how a scenario played out.
In the spring of 2012, I listed a meticulous in Canyon Lakes. The sellers were
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Tips for handling multiple offers when representing a home-seller.
It is not a perfect science, but here are some ideas and an example of how a scenario played out.
In the spring of 2012, I listed a meticulous in Canyon Lakes. The sellers were referred to my by Fidelity National Title. The home was located near the Bishop Ranch Business Park in San Ramon, CA.
On broker tour, it was obvious we were going to get interest, so when agents asked when we would look at offers, I said after the open house on Sunday.
Rule #1 - I never set a date on the MLS to look at offers. I always wait to see the response from broker tour, and if need be, the first open house. Setting a date can backfire if no offers come in. You may also scare away potential buyers. Rule #2 - Consider a multiple counter offer. Rule #3 - Do what you can to get back-up offers.
In our case, we got 7 offers, countered the top three and drove the price up above the asking. Offer #1 changed their mind, so we went to back-up #1. They did an inspection and got spooked by moisture under the home. Offer #3 got spooked about #1 and #2 pulling out. Now where rule #4 comes into play - staying in touch with all the agents who made offers. So, we picked the strongest of the remaining offers and proposed that they match a price set by the sellers, or we go to the next offer. They agreed to the proposal, and it closed escrow at a price over asking.
For questions about this example, or any other real estate matters, feel free to contact Glenn at 925 735-7555 or on his cell - 925 915-8300.
