If you watch our testimonial videos, you’ll see that we’ve been able to get many of our sellers multiple offers on their homes. In fact, some of them have been able to sell above asking price.
In our current market, multiple offers are fairly common. That’s because prices are rising and there is a lack of supply in key neighborhoods with strong demand.
So, what happens when you get multiple offers on your home? Although it is ultimately your choice as to which offer is best, there are a few different ways to handle this.
We recommend asking buyers for their highest and best offer. With this strategy, you would give buyers and their agents notice to submit their highest and best offer by a certain day or time. Then, you can figure out which of those offers works best for your situation.
We recommend asking for each buyer’s highest and best offer.
There is no right way to choose the best offer. Everyone says that cash is king, but it really depends on your situation. Some sellers want to find a buyer who will take care of their home. Buyers often write emotional letters describing what the home means to them; this might help you make your decision.
While asking for their highest and best offer is a common tactic, it really depends on your situation. For example, you may want to just take the best initial offer rather than countering multiple offers. If you have five offers come in and four of them aren’t very good, you may be better off just working with the one best offer.
Again, it ultimately depends on your situation. What are you looking for in an offer? Why are you motivated to move? As professional real estate agents, we can guide you through this process, but the decision is ultimately yours.
If you have any questions about multiple offers or real estate in general, just give us a call or send us an email. We would be happy to help you!