Pressure of Multiple offers on sellers – There are pressures on sellers when there’s multiple offers. Mm hmm. It happens just like anything that Shana luxury real estate broker and I’m Mike Acquisto. And let’s break this topic down just a little bit. OK, so one reason that you have a pressure if you’re a seller is there’s multiple offers, right.
Pressure of Multiple offers on sellers
You don’t know what’s happening and you’re a little afraid. Is that person going to execute is probably the first thing. What would you know? What are some other things that kind of go along with it? So before we get into that, I just have to you know, it comes to my mind is Amy Amy. I don’t know why, but like, can you imagine your sister as a seller? Because she is so analytical and like, once everything, you know, we all do.
But I just I don’t know why Amy popped in my mind. And I think she’d be like, is this the right? Is this really the right offer? Should I? And, you know, she would really make sure that she got she took the right offer. But anyway, there are a lot of pressures. You know, just because you’re a seller and you’re getting flooded with with offers, you can only only accept one.
And that’s difficult. Right? So if you pick the wrong one and they don’t close, they don’t perform it, maybe you get some, you know, some money from them like Ernest and option money. But that doesn’t really matter. That’s not your intention. Your intention is to go ahead and close. Right. There’s a reason you put it on the market, you want to complete it. So then suddenly you do that. But then your days on the market changed because this person didn’t perform and that that’s a real problem. Well, you start thinking.
So when someone sees a little B in the status back on the market, it’s like, oh, man, instantly. What do you think? Inspection. Right. Something didn’t go as planned. So, yeah. So there’s some things that you should really do to protect yourself from that happening.
So if you’re a seller, just maybe don’t always take the highest offer. That’s not necessarily the answer. Sometimes it’s a combination of the agent that the other person is working with the lender, how far along they are, what they’ve shown and proven to you, if it’s a local lender, not a national lender in scope. Right. So there’s a bunch of different things you want to do. So the reason we’re going over this right now is because our agents have tons of listings right now and we’re going to have multiple offers all over the place. Yeah, so we have these multiple offers all over the place and we have to choose one.
We do have to choose one. So, you know, again, coaching and educating your sellers, setting their expectations that you’re going to get flooded. Here’s some things that we really want to want to think about before accepting an offer. And, you know, how do you know that a buyer isn’t in a panic to get a home and they’re just putting these offers out right, left that is allowed. Right. But here’s the thing.
Or that they’ll find another one that they like. Even they might sincerely like that, but then all of a sudden they’re like, oh, I don’t know if I’m out there.
On the other hand, you know what? If all five gets accepted, well they’re probably not buying five.
Probably not buying five. That’d be great. But most likely they are not. So you have to plan for that. And we have lots of ways that we can avoid that one for sure.
At the end of the day, when you work with a great agent in their local and they know what they’re doing, you’re going to be the best off they can possibly be.
And I think there’s a reason that there’s a there’s a shortage of listings and we have an influx of them coming in. Now, you know, I know Rachel has a majority of them, but everyone is is starting to have listings come in. And that says a lot about you as a realtor. Right. So I’m proud of you guys. I think it’s great. And, you know, get the word out. Hey, buyers, guess what? We have listings
In. One thing that it is also tough is if you have multiple offers, it means a lot of people probably looked at the home. So now is a seller. One price you definitely have is that you probably haven’t been in your house for a long time because if you have these showings and imagine if they’re just fifteen minutes each and if you had we’re hearing stories of twenty offers, well, how many people had to see the home and how many fifteen minute time blocks are there. There’s only for an an hour. Yes. Right. So imagine like back to back to back to back how,
How and if you don’t allow overlapping showings. Oh my goodness. Everybody’s coming in to go.
Yeah. So you’re pretty much not be home from sunup to sundown.
Yes, you should just go away for the weekend. That’s what we’re telling a lot of our clients to just take a little staycation and also time I feel good about it. All right. Well, life. OK.