5,230,102
I advise sellers that waiting for a better Offer can bite them if the first buyers tire of waiting. Typically after 24 hours and many Offers, they can pick one to negotiate and wind up with a Contract, beyond their expectations.
However, it is ultimately the sellers' call - not mine.
For Buyers: IF I'm submitting an Offer on a Thursday or Friday, I will request an early morning the deadline the following day on a hot house. Some sellers want to wait for more Offers after an Open House and I want my buyers under Contract with them BEFORE the Open House!
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Eve Alexander
Tampa, FL
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Kathleen Daniels, Prob...
San Jose, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Carol Williams
Wenatchee, WA
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Fred Griffin Florida R...
Tallahassee, FL
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Lyn Sims
Schaumburg, IL
-
Bob "RealMan" Timm
Minot, ND
-
Gloria Valvasori, Accr...
Mississauga, ON
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Peter Testa
Danbury, CT
-
Anthony Acosta - ALLAT...
Atlanta, GA
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Brenda Mayette
Glenville, NY
-
Nina Hollander, Broker
Charlotte, NC
2,220,654
Unless the seller instructed you otherwise, all offers will be presented as they come.
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Eve Alexander
Tampa, FL
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
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Lyn Sims
Schaumburg, IL
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Peter Testa
Danbury, CT
-
Anthony Acosta - ALLAT...
Atlanta, GA
628,814
I leave the final decision on presentation to the Seller, based on activity. If you wait too long for more offers you could loose the best one of the bunch who may not want to wait.
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Peter Testa
Danbury, CT
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Buzz Mackintosh
Frederick, MD
-
Carol Williams
Wenatchee, WA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Brenda Mayette
Glenville, NY
-
Nina Hollander, Broker
Charlotte, NC
5,104,931
That depends on each individual situation and the number of offers involved. Also depends on how the seller wants to handle it.
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Debe Maxwell, CRS
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Peter Testa
Danbury, CT
-
Brenda Mayette
Glenville, NY
5,049,450
Depends on the seller,the house and the market.
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Kathleen Daniels, Prob...
San Jose, CA
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Carol Williams
Wenatchee, WA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
1,502,998
I find that many buyers are not wanting to do a deadline as they feel it puts them into a multiple offer bidding war. Agents and buyers like that I present them as I get them.
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Kathleen Daniels, Prob...
San Jose, CA
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Carol Williams
Wenatchee, WA
-
Lyn Sims
Schaumburg, IL
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
2,436,099
It depends on the market and the seller's desires.
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Buzz Mackintosh
Frederick, MD
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
87,920
If you price well and know it is a hot property, you better to collect all offers together, after that, one by one.
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Buzz Mackintosh
Frederick, MD
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Lyn Sims
Schaumburg, IL
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Inna Ivchenko
Encino, CA
4,572,183
It depends on the seller's preference. The subject of offers is discussed, agreed and known prior to the first visitor seeing the property
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Buzz Mackintosh
Frederick, MD
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Bob "RealMan" Timm
Minot, ND
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Peter Testa
Danbury, CT
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Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
758,035
It's up to the Agent to inform the seller of any offers. When an Agent knows an offer is coming in they should check with other agents that recently showed it & see if there are more offers coming. If so, it would benefit the seller to have all offers to review before making a decision.
This needs to be done in a timely fashion otherwise you will frustrate & possibly lose the buyer who brought the 1st offer. If you are waiting on other offers try & get a feel for where the additional offers are coming in & the terms of the offer in your conversation with the other agent. Also keep Buyer 1 informed of the status of their offer throughout any wait.
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Buzz Mackintosh
Frederick, MD
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Lyn Sims
Schaumburg, IL
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
851,242
I had this very question over the weekend in the thick of showings and offers coming at me in full force... Yes, it all depends upon the house and the seller. We honored all of the showings on the weekend schedule and set a time on Sunday afternoon to review them all and pick one. My one take away during it all is that emotions can easily get in the way. Settle down buyers' agents... remember why we're all here. Bring your strongest and best and let the process play out. ;0
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Buzz Mackintosh
Frederick, MD
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Lyn Sims
Schaumburg, IL
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
7,836,139
Do what serves the best interests of your client.
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Buzz Mackintosh
Frederick, MD
-
Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
564,494
This truly does depend upon the market conditions and the what the seller decides. In my marketplace, offers are generally presented immediately with the seller... Consider the adage 'A bird in hand' -
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Richard Bazinet /MBA, ...
Scottsdale, AZ
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
1,622,432
Deadline if multiple offers expected, and after that whatever comes.
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Lyn Sims
Schaumburg, IL
-
Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
6,393,494
Depends on the area and the market.
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Buzz Mackintosh
Frederick, MD
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
1,751,129
How's this for a non-answer. If the market is hot with multiple offers on nearly everything, I'd say set a day and time that any and all offer will be reviewed. If it's slow and you have offers trickling in, show them as they come.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
1,844,301
Deadlines have always worked out better for the seller but sometimes you get your butt burned with not enough buyers come back for the 'big event'.
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Bob "RealMan" Timm
Minot, ND
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Peter Testa
Danbury, CT
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Debe Maxwell, CRS
Charlotte, NC
3,416,038
Waiting can lose more buyers than it attracts. For me when an offer comes in, i let everyone who saw it that i have an offer and they should submit theirs if they are still interested. With many offers the seller can ask for the highest and best. OR choose the highest and best in hand.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
4,882,355
It depends. Each transaction is somewhat unique.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
519,324
It depends upon the market you are in at the time, the pricing strategy you employ and your degree of confidence in that combination. Seller's get to decide. We discuss both options and even when there is a review, the seller reserves the right to accept early. With a review, if presented right and priced right, you stand to get more and stronger offers. This isn't just about price either, waiving contingencies can be a huge seller benefit in a competitive market. If you don't do it right however, you end up past the review date with no offers and buyers ask, what's wrong with the home?
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
1,045,440
I believe, if I understand your question Praful Thakkar. The way I do it in Virginia real estate sales that yes, structuring the marketing to bring more viewers is best for the home seller. At least in the areas I work in Northern Va this is the case.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
482,547
Knowledge is in their best interest.
I discuss all offers with sellers as they come in. A separate discussion may be to 'wait a while' if it's an early offer, but the sellers always have the current information and make the choices.
Bruce
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
1,239,901
Sellers wants listing agent to get most offers. They counter back the first 10 highest buyers once they buyer counterback. They do that another two or three times. This is how these news about a shack sold 500K over asked ended up in national news. I made two offers $300-250K over listed in the Pennisula all got rejected for being too low.... Homes were homely....
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
3,988,007
It depends on the seller. Some sellers are in no rush to see offers quickly and prefer the urgency and bidding war of mulltiple offer strategies.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
3,986,258
I set a time table that is fair for as many as possible
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
666,639
Praful ~ It depends, but when discussing with sellers about this issue, I think it benefits them more to have a decent amount of exposure before accepting an offer. On the market on Thursday and contracts reviewed on Monday or Tuesday evening. By getting at least two offers, there is more leverage to the seller in negotiations (not only price but also contingencies) than when negotiating with the first offer solo.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,583,278
the answer to this depends on the price, terms and conditions of each offer.... if there's one offer and it's good, take it...
if there are many offers, they must ALL be delivered... and my recommendation would be based on what each offer and its terms and conditions might be.... if one of the many offers is acceptable and a "clean deal" take it....without countering to everyone....
the final decision is the seller's.... but I always expressed my opinion.... they always followed that opinion, also....
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
3,345,091
Every market is different. What works in my area may not work in your market or in another market. A listing agent will know what is best for the sellers and make recommendations accordingly.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
716,049
Great answers here...
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,772,575
Praful
Debe Maxwell, CRS has your answer. A
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
2,684,109
Unless your are in a strong seller's market, "Your first offer is your best offer".
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
3,071,489
Set expectations with Door #1. Nothing prevents the Seller from taking an offer during that time frame...
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
921,504
"generate interest and get as many offers as possible."
I fail to see how this is not in the owners best interest.
It is however, important that the owner and agent are operating from the same playbook to achieve the owners 'realistic' objectives. If owner is on a short time line, the deadline works well.
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Lyn Sims
Schaumburg, IL
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Bob "RealMan" Timm
Minot, ND
5,216,409
Depends on the situation. Sometimes the first offer is the best. Then again in a hot market, set a time to consider all offers and pray you will get them.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
577,750
It depends on the market .. if it is a hot market, I usually give 4-5 days for showings then accept offers on a specific date and that generally produces multilpe offers which is in my client's best interest. If the market is stable, I don't allow too much time for my Buyers to think about it... If an offer is presented in the early evening,, 7-8, usually I given the Sellers until 11:00 p.m. I want it finished by then and not leave a chance for another offer to come in.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
900,128
First come, first serve does not work in this game.
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Bob "RealMan" Timm
Minot, ND
4,800,082
I would think it would depend on your market and the specific circumstances.
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Bob "RealMan" Timm
Minot, ND
4,434,127
2,390,620
Even when we were insanely busy with a hot market multiple offers were just not that common. Here it is 1st come 1st served. If an offer comes in we contact the Seller immediately and they usually say yes or no before another offer comes in. If a 2nd comes in we usually tell them it will be a backup offer Praful Thakkar .
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Peter Testa
Danbury, CT
1,712,676
4,936,705
5,868,554
I usually put a deadline in MLS, but with the caveat - seller reserves the right to accept an offer at any time.