How to handle multiple offers, more than one real estate buyer shows up, to court and spark with a property listing.
Sounds like a wonderful situation for the real estate seller.
If you were a buyer in the round robin, you might wish you were the only one. And hope to be the last one standing. With your offer to buy the one that is accepted by the property listing owner.
But multiple offer situations, they are like delicate surgery where time, communication and consistency in the treatment with respect is imperative.
To make each and every buyer in the multiple offer situation feel like they had a fair shake.
That the playing field was kept level, no hanky panky happened to leave a bad taste in the buyer who did not get their offer to purchase the real estate listing picked from the pack.
And don't burn bridges. That buyer that was runner up may be picked to wear the crown at the sit down, sign and pass the paper real estate closing.
So monitoring the multiple offer situation, we let the seller know at time of listing the property this can happen. To not get cocky and please don't think the property is under priced and that the sudden shortage of this type of real estate listing is part of it. Supply and demand is at play.
Real estate markets like the weather change.
And markets within the market happen in the layers of real estate we list, market, sell (repeat). Like playing Fish. Sometimes there is a shortage of just the right kind of property that is no where to be found on the MLS round and round merry go round.