Just as we listen to your concerns & needs as a Seller, we do likewise when negotiating on your behalf in order to maximize the ‘net’ sales price of your Home. Listening is a skill that has served us well, whether it’s negotiating single or multiple offers. One of the many reasons you hire a Broker to either Buy or Sell is to take the emotion out of a large transaction. At Investors Trust Realty we understand there is a human element to every transaction & Brokers are not exempt from such emotions. The vast majority of Brokers want to do the very best for their clients and as a result, may be willing to share helpful information about their buyer clients in order to put their best foot forward. Listening & creating a comfortable environment from which they can sound off is crucial in helping Sellers get the most useful information. With Buyers experiencing multiple offers & rejections at every turn, it’s not uncommon for their Broker to counsel them in a variety of ways that will ‘sweeten’ their offer to a Seller. Conveying this information to the Seller based upon similar scenarios we’ve dealt with previously gives you the opportunity to make the most informed decision possible. Again, as a Seller the final decisions are always yours to make but, one would hope you have all the information required.
It’s certainly okay in a multiple-offer scenario to set a deadline for offers and ask everyone to provide their highest & best. In fact, we have that form in our files for just those occasions. In many situations, it appears that the playing field has been leveled by doing so but, at whose expense? It may be that the buyer who has been previously rejected many times is so beaten down that they simply don’t feel comfortable offering in what seems to be another failed attempt. It could also be that the prevailing offer was made by someone who simply wanted to ‘win’ out of desperation and either has buyer’s remorse shortly thereafter or attempts to gain it back during inspection negotiations. In either case, it could leave a Seller back at square one with their Broker explaining away a recent sale failure. Of course, this may not be the outcome in a majority of those types of offer situations however, at least knowing about options can be helpful to your bottom line.
On more occasions than I can recall, I’ve encountered Listing Broker who are overwhelmed in a multiple offer scenario and are doing little to covey any counsel to their Seller, other than sending them offers and pointing out where to locate the sales price on page 1. When inquiring about what needs their Sellers may have it’s not uncommon to hear “You know I can’t tell you anything, it wouldn’t be fair”. In reality, it’s the Listing Broker’s Fiduciary responsibility to the Seller to get as much for your property as possible thus, you may choose to deal with a particular offer that may have some terms & conditions to your liking. Whether or not a Seller decides to rely on an experienced Broker’s insight or simply let the chips fall where they may, having that choice is only possible with the guidance of an experienced Broker such as Investors Trust Realty.
Cooperation between Brokers should always be sought after as it benefits a Buyer in purchasing and the Seller in selling. This can certainly be accomplished in a way that benefits both parties in meeting their goals thus, cooperation with verification of facts is the preference. The number of multiple & single offer scenarios wherein buyers has walked away or been outright rejected, only to find they would have paid at least that much or more, is much higher than one might think. Marketing your Home to ensure it not only stands out but, has a desirability factor that creates buyer excitement is key. It’s our goal at Investors Trust Realty to make certain you never wonder whether or not you’ve left anything ‘on the table’.
Bob Zawaski
Principal Broker / Owner
Investors Trust Realty