If you are in a strong Seller's market and the first offer comes in at list price, and the Seller wants to take it, do you encourage them to wait to see what else comes in?

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Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373)

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Rainmaker
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Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Joan Cox why wait when both parties are eager to go forward? Hoping for better offer may end up in getting a lower offer later on!

Dec 30, 2014 11:48 AM

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Joan Cox

Denver, CO

Rainmaker
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Cheryl Ritchie

RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD

Southern Maryland 301-980-7566

One idea is to set expectation in remarks about which day they will be reviewed in a Hot market.

Dec 30, 2014 11:15 AM

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Joan Cox

Denver, CO

Rainmaker
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Kevin J. May

Florida Supreme Realty - Hobe Sound, FL

Serving the Treasure & Paradise Coasts of Florida

I try very hard to never argue with the Boss Joan Cox.

Dec 30, 2014 05:28 AM

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Joan Cox

Denver, CO

Rainmaker
8,079,268

Roy Kelley

Retired - Gaithersburg, MD

The first offer may be the best offer. I would not discourage acceptance.

Dec 30, 2014 04:31 AM

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Joan Cox

Denver, CO

Rainmaker
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Annette Lawrence , Palm Harbor, FL 727-420-4041

ReMax Realtec Group - Palm Harbor, FL

Making FLORIDA Real Estate EZ

I would believe one must consider the selling strategy the listing agent explained to the home owner.

If the house is priced at +12 percent, make the offer on the table work.

If the house is price at -12 percent, wait the period specified in the REALTOR instructions.

If the house is sold are using the PLF plan, each offer is worked individually.

The advise I give the owner is to secure the 'back up' first. It is magical how that keeps the primary buyer focused.

Dec 30, 2014 03:29 AM

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Joan Cox

Denver, CO

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Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker

RVA Home Team - Richmond, VA

RVA Home Team - Winning with Integrity.

If they want to take it, I go along with what they want. I will say, "this is a great offer and is exactly what you wanted. You can always wait and see if something better comes along but I can't promise that and you have the bird in your hand." I don't think I have ever had someone turn down a full price offer with the terms that were right!

Dec 30, 2014 02:28 AM

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Joan Cox

Denver, CO

Rainmaker
928,178

Jeff Pearl

Samson Properties / LIC in VA - Lovettsville, VA

Full Service Full Time Realtor

It is sellers decision, but I would suggest accepting it if all terms in offer were strong.

Dec 30, 2014 01:38 AM

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Joan Cox

Denver, CO

Rainmaker
4,800,282

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

Joan, I would never encourage the seller to wait if he wants to take the offer. Unless there were some potential issues with the offer, which I would certainly point out.

Dec 30, 2014 01:32 AM

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Joan Cox

Denver, CO

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

Many times the most interested party gets their offer in first.

Sep 01, 2019 09:55 PM

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Rainer
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Dipti Thakkar

LAER Realty Partners - Andover, MA

On a team with Praful Thakkar

My husband says, the first offer usually is the best offer.

May 12, 2018 10:54 PM

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Rainmaker
630,301

Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

Why not? Waiting never works, I have seen this.

Jan 03, 2018 11:17 PM

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Rainmaker
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Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Coldwell Banker Realty

No - it's up to the Seller

Dec 27, 2016 03:26 AM

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Rainmaker
5,961,258

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

David, we are seeing the multiple offer situation with almost every home listed, so we do need to get this information out upfront so the seller is aware.

Jan 26, 2015 03:59 AM

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Rainmaker
5,961,258

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Sybil, great answer and I would take that into consideration as well.

Jan 26, 2015 03:59 AM

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Rainer
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David Benton

Mount Pleasant, SC

Charleston Your Real Estate Agent & Advisor

I usually advise the seller of the market conditions, liklihood of getting multiple offers, pros and cons of the different scenarios so they have enough information to make a decision in their best interest.

Jan 26, 2015 12:45 AM

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Rainmaker
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Sybil Campbell

Fernandina Beach, FL

Referral Agent Amelia Island Florida

Joan, I think it would depend on a lot of factors, the most important being the seller's motivation.

Dec 31, 2014 12:16 PM

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Rainmaker
5,961,258

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Praful Thakkar some of the first offers come in at list price, and later after they see how many business cards (agents who showed the home) were there, the next buyers offers are higher. Still have to check the terms, to be sure they are "better".

Dec 31, 2014 01:16 AM

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Rainmaker
5,961,258

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Cheryl Ritchie in this past year's market, it was a given most Sellers would see multiple offers, and it was a good idea to put into comments when offers would be reviewed. That way Seller saw many offers to choose from!

Dec 31, 2014 01:15 AM

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Rainmaker
5,961,258

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Annette Lawrence that is exactly what I was talking about, as many of my Sellers have seen $10-$15K above list, and list price was fair market value. Here in Denver we are not seeing "that many" appraisals not coming in at contract value, especially when they know there could have been up to 10 offers received.

Dec 30, 2014 04:11 AM

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Rainmaker
5,961,258

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Love hearing everyone's comments, and it IS the Seller's decision.

Dec 30, 2014 02:16 AM

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Rainmaker
5,961,258

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

I know I like to e-blast an email to all agents who have shown the home to see if any other buyers have interest and HOPE to cause a multiple offer situation. Usually turns out the first offer that is received, is NOT your best offer.

Dec 30, 2014 12:20 AM

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Joan Cox why wait when both parties are eager to go forward? Hoping for better offer may end up in getting a lower offer later on!
One idea is to set expectation in remarks about which day they will be reviewed in a Hot market.
The first offer may be the best offer. I would not discourage acceptance.
I would believe one must consider the selling strategy the listing agent explained to the home owner.

If the house is priced at +12 percent, make the offer on the table work.

If the house is price at -12 percent, wait the period specified in the REALTOR instructions.

If the house is sold are using the PLF plan, each offer is worked individually.

The advise I give the owner is to secure the 'back up' first. It is magical how that keeps the primary buyer focused.
If they want to take it, I go along with what they want. I will say, "this is a great offer and is exactly what you wanted. You can always wait and see if something better comes along but I can't promise that and you have the bird in your hand." I don't think I have ever had someone turn down a full price offer with the terms that were right!
It is sellers decision, but I would suggest accepting it if all terms in offer were strong.
Joan, I would never encourage the seller to wait if he wants to take the offer. Unless there were some potential issues with the offer, which I would certainly point out.
Many times the most interested party gets their offer in first.
David, we are seeing the multiple offer situation with almost every home listed, so we do need to get this information out upfront so the seller is aware.
Sybil, great answer and I would take that into consideration as well.
I usually advise the seller of the market conditions, liklihood of getting multiple offers, pros and cons of the different scenarios so they have enough information to make a decision in their best interest.
Joan, I think it would depend on a lot of factors, the most important being the seller's motivation.
Praful Thakkar some of the first offers come in at list price, and later after they see how many business cards (agents who showed the home) were there, the next buyers offers are higher. Still have to check the terms, to be sure they are "better".
Cheryl Ritchie in this past year's market, it was a given most Sellers would see multiple offers, and it was a good idea to put into comments when offers would be reviewed. That way Seller saw many offers to choose from!
Annette Lawrence that is exactly what I was talking about, as many of my Sellers have seen $10-$15K above list, and list price was fair market value. Here in Denver we are not seeing "that many" appraisals not coming in at contract value, especially when they know there could have been up to 10 offers received.
Love hearing everyone's comments, and it IS the Seller's decision.
I know I like to e-blast an email to all agents who have shown the home to see if any other buyers have interest and HOPE to cause a multiple offer situation. Usually turns out the first offer that is received, is NOT your best offer.