Multiple offers can mean more money

sold2For sellers multiple offers can be good news. I don’t think there is any advantage in getting 20 offers, but 5 or 6 offers are a good way to get the most money for your home.

Some homes get offers the first day they are on the market. Usually one day on the market isn’t long enough time to get the highest and best offer. One strategy is to ask your agent to tell all interested parties that they have until 10:00 AM on [24 to 48 hours later] to submit their highest an best offer. This is done after the first offer is received if the home has just been put on the market.

Your agent may have “pre-marketed” your home in his real estate office so that only agents from that office have had a chance to see it before an offer comes in.  It is in the real estate companies best interest to have one of their agents bring in the buyer. It is dual agency when agents from the same office or sometimes the same company represent both the buyer and the seller.

Sometimes the first offer is the best and no one wants to lose that offer but if the home has not even been on the market for 24 hours it isn’t unreasonable to ask for another 24 to 48 hours before accepting an offer.

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