While contention is never comfortable, having multiple people fight over your home is a great position to be in as a seller. Multiple real estate offers can drive the price of the house up, giving you more money to put towards your next home. Here is more information about a multiple offer situation and how to handle it as a seller. 

What Is a Multiple Offer Situation?

As soon as your real estate listing is up on the multiple listing service, real estate agents from all over the world can pull up information about your house. Your home will appear in searches based on location, size, and features, so there is a good chance that the right house at a good price will attract more than one offer. 

Multiple offer situations can involve your real estate agent fielding offers from multiple people and their agents, which can be overwhelming. Since your agent is required to talk with you about every offer that comes in, you may find yourself going over the details of many offers, even ones that don’t meet your minimum criteria for selling. However, many times, your agent may tell prospective buyer’s agents that there are multiple offers on the table, turning your listing into the center of a bidding war—where you are the beneficiary. 

What Are Some Tips for Sellers?

When you are confronted with a multiple offer situation, it’s important to stay calm and think about what you want out of the deal. Are you more interested in a high sales price, a fast close, or an all-cash offer where financing won’t be an issue? Think about how much time you have to sell the house, what kind of price you would like to get, and any contingencies you want to avoid.

For instance, if you are interested in selling your home without being asked to repair things that may not be perfect, respond to deals that don’t require contingencies like a home inspection. Also, think about what kind of buyers you want to purchase your home. If you want the backyard you carefully manicured to stay in good shape, look for someone who loves the outdoors as much as you do. 

If you are thinking about listing your home for sale and you are hoping to receive multiple offers, work with the real estate team at Color Door One in Phoenix, AZ. With a commitment to making the sales process simple and profitable for buyers and easy for sellers, they can help you to get more for your home and find your next neighborhood. Learn more about how they can help you by visiting them online or by giving their team a call at (602) 575-5827.