Our market today affords us interesting opportunities.

With inventory low, and buyers buying, we find ourselves entertaining multiple offers to the sellers. Now, there are many ways to handle multiple offers. Each of the ways require the seller’s understanding and permission. In fact, according to the Code of Ethics, we are not to reveal even the existence of another offer without the seller’s permission.

A common way to handle these are to counter all the offers with the direction of bringing back the highest and best offer to the seller. I am not a fan of this method, because each of the buyer’s may not want to negotiate against others and walk away. Now the seller has nothing! I prefer to counter each discretely and without disclosing the existence of the multiple offers to the buyers. The way to do this is to always counter only one at a time and always counter the lowest offer higher than the highest offer. Continue to do this, until your counters are rejected and you have settled on the highest offer. Be careful that you don’t settle on a price that is above the possible value of the appraisal!

If you would like more information contact me.

I’m Ric Giumenta. You can have a good day or a bad day. It’s your choice.

Make good choices.