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Advice About How Sellers Can Handle Bidding Wars

I’m joined today by Robert Johnson, the president of our company, to help me discuss something that a lot of home sellers in the market are unprepared for—how to handle bidding wars. This is one of the biggest challenges in the market right now.

It’s no secret that we have low inventory. A lot of homes in the mid-level price range are seeing fiercely waged bidding wars. Many sellers aren’t ready to deal with this, since often these bidding wars lead to their home selling quicker than they expected.

What do sellers need to know about handling bidding wars and how to process all the offers being thrown at them?

No matter what advice real estate agents give, it will always be the client’s call. Even though some think that a bidding war is a great problem to have, you still need to understand how to navigate that situation and how to trust your team to help you select the best offer. On that note, it’s important to remember that, sometimes, the best offer isn’t always the best price; it might be the one with the best terms that fit your end goal.

No matter what advice real estate agent’s give, it will always be the client’s call.

As agents, one of the things we do to help clients make a good decision is to look for the highest and best among the offers received, and to give the offers a chance to come back with their absolute best shot, given the seller’s needs. There are always risks involved with this ‘highest and best’ approach, so discuss these with your agent.

I’ve seen agents make the mistake of sitting in the driver’s seat of the transaction. The seller needs to be involved because a lot of times, the buyer and their agent assume the highest and best offer is just a matter of price or of how quickly they can get to close. The seller might want a longer closing, or to lease the property back—you really never know.

In instances where there are 40 or more offers, a seller can’t be expected to have a conversation with every one of those agents. Sometimes those agents will get angry about not hearing a response to a question they asked, but we can’t do their jobs for them; we just have to present everything to our client and let them decide what they want to do.

That said, for this to work, sellers should be honest with their agent about their goal, whether it be about money, time, or connections.

If you’re thinking about selling your home, reach out to us. One of the great agents on our team will give you the best advice on how to accomplish your real estate goals.

Best Time to Buy a home if you have been sitting on the fence


There are many Tampa Bay area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here to learn about our “Your Home Sold Guaranteed in 29 Days” program or for a free property valuation so you know what your home can sell for in today’s market. You may also call me at (813) 359-8990 for a FREE home buying or selling consultation to answer any of your real estate questions.
Andrew Duncan, #1 RE/MAX Agent in Florida, together with a full house of guests, talk about why NOW is the best time to buy a home.

The appreciation of the rentals is starting to outrun the appreciation on the housing market. This means that if you continue to rent, your rent is likely to go up. Some people don't realize that you can buy a comparable home for what you are paying in rent or even less!

A lot of these rentals are controlled and owned by hedge funds or big corporation which means they are in control of the rise in rental prices. Why keep paying for the rising rent if you have the ability to buy? For those who think they are not able to buy, Mike Yates of Atlantic Bay Mortgage shares that there are a lot of low money down options available. There are also some down payment assistance programs available. It's best to contact a lender to see what options are available for you.

If you decide to buy, do your research. Get pre-qualified and look for an experienced Real Estate team like The Duncan Duo to help you in this competitive real estate market and get the home you want.

To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sunday at 10 am.

Create More Demand for Your Listing With "Coming Soon" Marketing

Today we would like to give you some insight into a phenomenal technique called “Coming Soon” marketing. There has been some speculation over whether this strategy works, but we believe it does. 

Before we get into why it is effective, let’s first discuss what Coming Soon marketing is. Coming Soon marketing is a strategy wherein we begin advertising a listing before it’s active. So, this marketing technique creates pent-up demand for a home. It is similar to putting out a Black Friday sales flyer before Thanksgiving.

Coming Soon marketing helps propel listings into multiple offer situations, which equates to faster sales and higher prices. This strategy ultimately creates a situation the seller would not achieve without this type of marketing. As real estate professionals, we do not want our sellers to miss out on any offers because their home lacks exposure, and Coming Soon marketing prevents this from happening.

We give our sellers advice and opportunities, but we also give them control over how to proceed.

At the end of the day, though, everything that we do comes down to the seller’s choice. While we are happy to give our advice, sellers will always have the option to pass on this strategy.

With that said, we do highly recommend it. Some of the best listings never actually hit the market. Sellers can often net a great price without ever going through the hassle of listing or showing the property. We can often even earn sellers a cash offer.

But if a seller does allow their home to be shown before it hits the market, this can reap some great results. Motivated buyers will often submit offers above asking price if they are serious about securing the home. 

Of course, all of this is simply an option—not an obligation. We give our sellers advice and opportunities, but we also give them control over how to proceed.

If you have any other questions, would like more information, or are curious how we can help you sell your home, give us a call, send us an email, or visit www.TheDuncanDuo.com. We look forward to hearing from you soon.