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How to Use a Multiple-Offer Mindset

While the market is shifting, homes are continuing to receive multiple offers. Agents should prepare clients for it and find out as much as possible about the property.

WEST CHESTER, Penn. – Although the housing market is shifting, homes are continuing to receive numerous offers. Susan Austin of The Tom Toole Sales Group says when a buyer is ready to submit an offer, the seller should immediately contact the listing agent to get more information, such as whether other offers were submitted and the seller's preferred terms and conditions.

This information can help agents and their client submit a strong offer that seeks to take into consideration all parties. The aim is to develop and maintain lasting professional relationships that can potentially generate future business and influence the outcome of a deal.

Agents also need to focus on preparation, which entails becoming as knowledgeable as possible about the property and having everything in place to submit a same-day offer. If a prospective buyer is certain they want to put an offer down on a property before leaving the driveway, agents can start the process using a virtual assistant.

Agents should also prepare their clients for the purchase journey. Pre-approved clients who know their price range and how much they can offer as a down payment save time and are poised for success.

When a client is ready to close, agents should put together several versions of the estimated closing costs to help them determine what course of action works best for them.

Agents should always assume the sellers are reviewing multiple offers alongside their client's, even if no other offers were submitted. The best homes – when adequately marketed and priced correctly – are still selling quickly. 

Source: Inman (09/09/22) Toole, Tom

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