If you’re selling your home, the idea of getting multiple offers to buy might seem like an ideal scenario. However, managing multiple offers can be complicated and even stressful. Working with a real estate agent will help you figure out the best course of action, but so will understanding your options. Here are some choices you can make when presented with a multiple offer scenario:
The easiest thing to do in a multiple offer scenario is to accept the best offer on the table. This means no extra negotiation and a potentially higher sale price without adding time to your process. Accept the best offer and reject the rest immediately to make your decision.
Another option is to let all the buyers know there are multiple offers in play. Disclosing multiple offers to everyone involved means buyers can counter with a better offer. If they are not interested in upping their price or adding better terms, they can walk away from the sale and leave the others for you to negotiate with.
If you receive one offer that’s better than the rest, you can disclose it to the other potential buyers. This gives them the chance to either match or surpass the best offer. This might cause some buyers to walk away and others to increase their offer.
Sometimes there can be one offer that’s more promising than the rest. Even if it’s a top choice, you can counter the offer while letting the other potential buyers wait or a decision. You might get better contract terms or a better price from the “favorite” offer. If not, you know you still have backup options as long as you don’t reject them right away.
Juggling multiple offers can be stressful or exciting depending on the situation. No matter what, it’s a good idea to go over the options with a real estate professional for help in negotiating the best potential outcome.
Buying and selling real estate isn't a do-it-yourself endeavor. You need a home pricing expert, a skilled negotiator, and someone who's been trained and inspired by the best in the business. With over 30 years of experience in both real estate and the customer service industries, Nicki truly puts her clients first.
While the Binghamton area was where she was born and raised, she knew the Capital Region was the perfect place to raise her 2 sons. Since travel sports were a large part of their lives, there isn't a town from Albany, Columbia, Greene, Rensselaer, and Saratoga Counties she isn't familiar with.
Her core values in her commitment to her clients are integrity, hard work, and specialized attention to every aspect of the home buying process. She prides herself in being an innovative thinker, coming up with creative and practical solutions for her clients. Whether you are buying your first home, ready to expand, or downsizing she would love to help you reach your real estate goals! Welcome Nicki!
