Arizona Real Estate Blog

by Jon Kichen

Order of Presentation of Multiple Offers on Your Listing
October 3rd, 2022 at 11:21 am   starstarstarstarstar      

Certain markets over time create the question for the listing agent; I have 5 offers for my seller, and I wrote one of them. Is there a specific order in which I present them to my seller?

 

To answer that question, the answer is No, there is no specific order. Some of that could be addressed with the seller, asking the seller how she would like the offers presented, such as lowest to highest net, or vice versa, closing time sooner versus later, order in which received, and numerous other factors. It is best the listing agent provide the options to the seller and let the seller decide.

 

Another choice is the method of presentation; put all 5 on the table in front of them (assuming you got into your car and met with the seller in person) or once an order is selected, present one at a time. That should be the seller’s choice. Always be mindful of the seller’s reaction; read their body language. Some offers might really intrigue them, while, for whatever reason, some others totally bore and/or insult them. Be sure to be sensitive to their reaction; both verbal and non-verbal.

 

 Lastly, now the seller has reviewed all 5. What are their options?

 

  1. Accept one and reject the other 4
  2. Accept one and sit on the other 4
  3. Accept one, and offer back-up to one of the others
  4. Counter 1, and sit on 4
  5. Counter 3, reject one and sit on the other one (you must use the multiple counter form when countering more than 1)
  6. Counter all 5 of them (you must use the multiple counter form when countering more than 1)
  7. Sit on all 5 waiting for a few more to be presented.

Needless to say, there are dozens of combinations including those above, meaning the seller has a great deal of flexibility. While in many cases, we are obligated to play by the rules, in most cases, sellers have no rules. One misconception is that the seller if obligated to sign the rejection part of the contract and return that to the buyer if they are in fact rejecting the offer. That is simply not true. As the listing agent, you should encourage and/or gently insist that they do that, yet they have no obligation to do so.

 

Give them the choice and proceed, with one caveat; Do not keep the buyer agents in the dark…Tell them exactly what is happening. This is professional courtesy. Remember, that buyer’s agent has a pesky buyer calling them 10 times a day, and all the agent is trying to do, is help you uphold your obligation to the seller, and put money in everyone’s pocket.

Posted in Uncategorized by JON KICHEN
Name * 
Email * 
Rate This Post  
Spam Protection 
 

 

Archived Articles

 

Arizona's Anti-Deficiency Statutes to Remain Unchanged

Govenor Brewer does not change statutes

September 14, 2009

 

HVCC Creates Havoc

Home Valuation Code can be confusing

September 11, 2009

 

A Short Sale Pitfall

Obtaining the HUD-1

September 5, 2009

 

Selling To First Time Homebuyers?

What About The Federal Tax Credit?

August 31, 2009

 

Investor's Anti-Deficiency Statutes

Guest Blogger-Scott Stein

August 6, 2009

 

Know When To Hold ‘Em (and know when to fold ‘em)

What is your time worth?

August 4, 2009

 

Doom and Gloom or Hooray?

Where do we go from here?

July 26, 2009

  

Relief for Tenant in Foreclosed Properties

Protecting Tenants At Foreclosure Act of 2009

July 13, 2009

 

Summer months are the slowest of the year for real estate sales!

Is that true?

June 30, 2009

 

Are You Out Of Your Flippin Mind?

Does the VA have the same requirement as FHA regarding the 90 day "hold" rule for seller of a "flip property?"

June 4, 2009

 

12% Are Behind In Mortgage or in Forclosure

Guest Blogger: Mike Neill

May 28, 2009

 

Lenders Think They're Exempt: They're Not

Lender/seller statutory obligation

May 20, 2009

 

Technology and the New Real Estate Agent

May 15, 2009

 

FHA Secrets You Should Know

Guest Blogger: Mike Neill

May 13, 2009

 

Who Calls the Shots?

Short Sales-who is in control? 

May 12, 2009

 

So much for so little!!!

Tips for good business practices  

May 11, 2009

 

Lenders Suspending HELOC’s in Falling Markets

May 6th, 2009

 

Wanna Get Paid?

Getting your full commission in current market  

April 29, 2009

 

Staying busy in a tough market…

Keeping your business going  

April 28th, 2009

 

Utilities on Lender-Owned Properties

Who's responsible when utilities are turned on?

April 22, 2009

 

“Be Afraid, be Very Afraid…”

Getting over your fear of the current market

April 21, 2009