We have proven strategies for attracting and reviewing multiple offers.
Today I want to talk about how we handle multiple offers and why it’s so important. It’s common to get multiple offers in the current market. It’s also very important to deal with those offers properly, from dealing with the agents and buyers to how we help you as a seller.
First, we list our homes at a specific time to attract more offers. We’ll typically put them on the market on Thursday or Friday, and we don’t review any offers until Monday so that it has time to be shown. After that three- to four-day window, you start losing buyers. They get frustrated or look for something else.
Once we have all of the offers, we review each contract. We cover their terms, paperwork, and what is and isn’t accurate. We’ve built an amazing spreadsheet that takes all the offers and compares the key terms side by side. This lets you see the pros and cons of each offer. After all, the net sales price isn’t always the most important part.
“We have to look at who can put their pocketbook where their pen went.”
Many buyers will throw out a figure and make their offer contingent on the home appraising. If they offer $350,000 on your $300,000 home, we know it won’t appraise for that price. We have to look at who can put their pocketbook where their pen went so that you can have a successful closing. We’ll go over all those terms and help guide you to the right offer. This is crucial because some of those highest offers will renegotiate when the appraisal doesn’t come in.
What can a buyer learn from all of this? Well, know that this is how a seller compares your offer to all the others. It’s important to know how you appear on the spreadsheet and how you plan to win the home. Keep in mind that your pocketbook should match your pen.
If you have any questions or are looking to sell, give us a call at 210-274-8753. We would love to help you.