We have encountered competing offer situation the last while, so this refresher can be timely….whether buying or selling!
This is especially timely given the recent headlines about Canadian buyers NOT wanting to “get into that situation” where they must compete against another buyer for a particular property.
Competing offers must be handled carefully, openly, fairly and in a professional manner. Obviously this is true of ALL offer situations, but it is more important than ever when two parties want the same thing that only one can have.
Some sellers really think they have it made when this competing offer situation comes up, and in most cases, it SHOULD result in a closed sale that works well for the seller. However, I have seen inexperienced listing Agents mis handle situations that resulted in a seller missing out on what SHOULD have been a “done deal”. Inexperience or lack of training can also result in LAWSUITS stemming from mis handling by a Realtor.
If your Agent does not have a proven track record in handling competing offer situations, that can put your interests at a very serious disadvantage. All the good intention in the world fall well short when, at the end of the day, you are left without achieving your Real Estate objective…and just not too sure exactly what happened.
With experience in Canada’s hottest multiple offer markets in 3 different provinces over each of the last 4 decades…I aint perfect! But I sure am experienced! call or text anytime 250 486 2529
My strategy ALWAYS whether representing buyer, representing seller, or BOTH is to methodically explain the exact situation, carefully outline options, ask pertinent questions to ensure the client’s interests are foremost and to specifically explain possible outcomes of any given step that may be taken.
My record in dealing with competing offers is very strong, including the time I had to track down a less than sober Vancouver Realtor who was keeping a very hot listing client from reviewing other offers so HIS own buyer could take advantage of the situation. That was the first time (and thankfully last time, so far) I have ever had such a “discussion” with a Realtor on the doorstep of his clients house! In the end, I did get my offer put forward for consideration by the seller.
RE/MAX ORCHARD COUNTRY
10124 Main St
250 486 2529