EP 38 - Multiple Offers - a podcast by Brian Cook And Kindra Cox

On Episode 38 of “The Brian and Kindra Show”, Brian & Kindra discussed multiple offer situations which happen when a property listed for sale receives more than one offer to purchase their property at the same time. 

Buyers could be represented by Brian & Kindra, by other agents also with KW Elite, or by agents from other brokerages. 

• If all offers come in from other agents, Brian & Kindra will present all offers to the sellers which includes discussing the advantages and disadvantages of the offers and the estimated net proceeds to the seller for each offer, and then the seller decides how they want to proceed.
• If Brian & Kindra have one offer from a buyer and another offer is coming in from another agent, they will send their offer directly to Lora, the office manager for KW Elite, and instruct the other agent to do the same. Lora, a neutral, licensed agent, will present the offers to the seller. This way, Brian & Kindra never see the competing offer until the seller has made a decision at which point they can step back in to complete the transaction.

When making an offer as a buyer or receiving an offer as a seller, most think simply in terms of the bottom dollar. However, there are many aspects to an offer to consider when determining the strength of that offer including the loan type or lack thereof, the down payment amount, closing cost assistance requested, earnest money put forward, inclusions requested, and so much more that can vary widely from situation to situation. The highest price isn’t always the most attractive offer.

When a seller is presented with multiple offers, they choose how they want to proceed: they can simply accept one of the offers, they can reject both offers, they can choose to send a counter-offer to one of the buyers, or they can send a form disclosing to both buyers that multiple offers were received, and to please issue their highest & best offers.

Brian & Kindra are proud of the system that they have put into place to make sure that multiple offers are handled professionally, efficiently, and with the utmost integrity. They hope these tips have been helpful for you. As always, if you have any questions or need help, please feel free to reach out to your local real estate professional. 

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