If you’re selling your home, the idea of getting multiple offers to buy might seem like an ideal scenario. However, managing multiple offers can be complicated and even stressful. Working with a real estate agent will help you figure out the best course of action, but so will understanding your options. Here are some choices you can make when presented with a multiple offer scenario:
Take the Best Offer
The easiest thing to do in a multiple offer scenario is to accept the best offer on the table. This means no extra negotiation and a potentially higher sale price without adding time to your process. Accept the best offer and reject the rest immediately to make your decision.
Disclose All & Wait for New Offers
Another option is to let all the buyers know there are multiple offers in play. Disclosing multiple offers to everyone involved means buyers can counter with a better offer. If they are not interested in upping their price or adding better terms, they can walk away from the sale and leave the others for you to negotiate with.
Disclose the Best Offer
If you receive one offer that’s better than the rest, you can disclose it to the other potential buyers. This gives them the chance to either match or surpass the best offer. This might cause some buyers to walk away and others to increase their offer.
Counter, Wait & Reject
Sometimes there can be one offer that’s more promising than the rest. Even if it’s a top choice, you can counter the offer while letting the other potential buyers wait or a decision. You might get better contract terms or a better price from the “favorite” offer. If not, you know you still have backup options as long as you don’t reject them right away.
Juggling multiple offers can be stressful or exciting depending on the situation. No matter what, it’s a good idea to go over the options with a real estate professional for help in negotiating the best potential outcome.
About the Author
Kimberly Hering
Kimberly Hering's devotion to helping people achieve their real estate goals stems from her genuine enjoyment of the process. Whatever the task, Kimberly makes it her mission to get it done, however she can, without compromising her client's needs. Often, that means thinking outside the box. After working with Kimberly, clients describe her as being Trustworthy, Creative, Patient, Highly Skilled, Attentive to the Process and having a lot of Integrity.
After spending more than 15 successful years working on Wall Street, Kimberly transitioned into Real Estate, joining Alain Pinel Realtors, then moving to Zephyr, now Corcoran Global Living, in 2018. During her career on Wall Street, Kimberly was a Vice President working as an Institutional Equity Salesperson for Montgomery Securities for 10 years. She covered the top money managers throughout the US and Canada. She joined Jefferies & Co as a Senior Vice President managing the Western Region Institutional Sales group, while continuing to cover the top money managers.
Kimberly leverages her extensive experience selling equities to top money managers throughout the US and Canada, to successfully negotiating any Real Estate transaction seamlessly for her clients. Kimberly is well versed in Marin's neighborhoods, towns, cities, and education system.
Living in the Bay Area for 35 years, 25 years in Marin and having 2 sons in local Marin schools, Kimberly spends a lot of time volunteering in the community and serving on various local Boards. Kimberly has a collection of resources ranging from the best local breakfast spots to vetted contractors. With her reliable list of valuable resources, Real Estate experience and unsurpassed knowledge of Marin's many communities, Kimberly can guide her clients through every aspect of a Real Estate transaction seamlessly.
Relocating to Marin, downsizing, upsizing, first time home buying, final home purchase or sale, or a lot to build a dream home, no matter the undertaking, Kimberly works seamlessly until the job at hand is completed with 100% satisfaction.