As BMO recently stated and PropertyWire.Ca reported in a recent article “Bidding Wars Appearing Across The Country”, bidding wars are exploding again across the country. It’s every sellers’ (and listing agents) dream, to have people fighting over what you have to sell. The chances increase that you will close this deal- and that you that you will get a good price for your client.
However, if you don’t have a strategy, this dream business proposition could turn quickly to a nightmare.
Perhaps more so than in any other part of this business, handling multiple offers is a potentially explosive public relations minefield. It is not enough to do the right thing- you must look like you are doing the right thing.
There is no definitive answer to the best way to handle multiple offers, simply because so many different scenarios exist- as in, how many different agents are involved? Are you the agent for the multiple offers? How many are there? And the list goes on and on.
Despite all of the differing potential situations, – there are fundamental things in common, namely that you must always represent the best interests of your client, as Butch Oldford, Broker/Manager Royal LePage Gale Real Estate says “All (scenarios) require fairness to all parties. Getting the best advantage for your seller….not only that but the perception of doing it straight.”
Taking it one step further, it isn’t enough to simply have your clients best interests at heart- your intentions have to be visual, audible- and tactile.
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