Listings and Multiple Offers; What You Need to Know
The multiple offer scenario is THE perfect storm towards which listing agents and their sellers strive. Getting there, however, and navigating through these situations, commonly leads agents astray into territories that present their own unique issues and roadblocks. In this week’s video, listing specialist Katie Thornell provides a road map for arriving at and moving through these scenarios in an effort to provide sellers with the satisfaction of knowing that they undertook and executed a worthwhile endeavor in the sale of their largest asset.
So, where does she commonly begin?
In setting the stage with an eye towards multiple offers, the property’s launch time is INCREDIBLY important. Listing on a Thursday provides ample time for the news of a property’s availability and the features that make it both unique and desirable to register on the radars of perspective buyers and their agents. This also allows attentions to be caught in advance to the weekend, giving you time to schedule your Saturdays and Sundays for showings and managing the expectations of interested parties. With this, establishing and communicating a cut-off date for the listing works well to cultivate a sense of urgency in those that come to view the property. At this point, the stage has been set.
As the offers roll in: how do we respond?
Again, navigating through these offers in order to achieve our ideal closing situation comes with separate issues. In this event, it is more or less a foregone conclusion that the amounts of offers remain undisclosed to other prospective agents and buyers.
Adding to this, ensuring that we are treating our client with the utmost care requires that lines of communication be completely open with regard to the client’s living situation. Providing this is something that is more precisely addressed in the video itself.
Lastly, handling the above market value offer deserves attention, so that sellers are not left stranded in a situation requiring that they make up the difference of an offer that does not appraise out.
For more information and this and other finite topics within this space, check out the video, and, as always, call with any questions that you may have.