Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

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!

Apr 29, 2018 08:36 PM
Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Unless the seller instructed you otherwise, all offers will be presented as they come. 

Apr 30, 2018 04:39 AM
Rainmaker
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Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

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.

Apr 30, 2018 03:34 AM
Rainmaker
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

That depends on each individual situation and the number of offers involved. Also depends on how the seller wants to handle it.

Apr 30, 2018 04:06 AM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Depends on the seller,the house and the market.

Apr 29, 2018 10:14 PM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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.

Apr 29, 2018 09:58 PM
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

It depends on the market and the seller's desires. 

Apr 30, 2018 02:56 AM
Rainer
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Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

If you price well and know it is a hot property, you better to collect all offers together, after that, one by one.

Apr 29, 2018 10:31 PM
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

It depends on the seller's preference.  The subject of offers is discussed, agreed and known prior to the first visitor seeing the property 

 

Apr 29, 2018 08:11 PM
Rainmaker
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Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

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.  

Apr 30, 2018 05:03 AM
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Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

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

Apr 30, 2018 04:39 AM
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Roy Kelley
Retired - Gaithersburg, MD

Do what serves the best interests of your client.

Apr 30, 2018 04:42 AM
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Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

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'  - 

Apr 30, 2018 04:06 AM
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Deadline if multiple offers expected, and after that whatever comes. 

Apr 29, 2018 11:33 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on the area and the market.

Apr 29, 2018 09:03 PM
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Mike Cooper, Broker VA,WV, MD
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

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. 

Apr 30, 2018 04:13 PM
Rainmaker
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Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

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'.

Apr 30, 2018 06:50 AM
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

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. 

Apr 30, 2018 06:13 AM
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Richard Weeks
Dallas, TX
REALTOR®, Broker

It depends.  Each transaction is somewhat unique.

Apr 30, 2018 04:57 AM
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Dan Tabit
Keller Williams Bellevue - Sammamish, WA

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? 

Apr 29, 2018 09:44 PM
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Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

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.

Apr 29, 2018 08:11 PM
Rainer
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Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

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

 

Apr 29, 2018 08:00 PM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

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....

Apr 29, 2018 07:59 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

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.

Apr 30, 2018 06:36 PM
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I set a time table that is fair for as many as possible

Apr 30, 2018 03:16 PM
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AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

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.

Apr 30, 2018 08:34 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

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....

Apr 30, 2018 07:43 AM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

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. 

Apr 30, 2018 07:25 AM
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Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Great answers here...

Apr 30, 2018 07:12 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful

Debe Maxwell, CRS has your answer. A

Apr 30, 2018 07:08 AM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    Unless your are in a strong seller's market,  "Your first offer is your best offer".  

Apr 30, 2018 07:07 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Set expectations with Door #1.  Nothing prevents the Seller from taking an offer during that time frame...

Apr 30, 2018 06:01 AM
Rainmaker
920,968
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

"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.

Apr 30, 2018 05:49 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

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.

Apr 30, 2018 05:08 AM
Rainmaker
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Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

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.

Apr 30, 2018 04:51 AM
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

First come, first serve does not work in this game.

Apr 30, 2018 12:15 PM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would think it would depend on your market and the specific circumstances.

Apr 30, 2018 07:47 AM
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Depends.

Apr 30, 2018 06:03 AM
Rainmaker
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

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 .

Apr 30, 2018 05:52 AM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I tend to go with the former.

 

Apr 30, 2018 05:20 AM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I present them as they come in.

 

May 06, 2018 12:03 PM
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I usually put a deadline in MLS, but with the caveat - seller reserves the right to accept an offer at any time.

May 03, 2018 08:38 AM