An informed seller will be ready to make the right decision when an offer or competing offers are received.
When you hire Maggie Chandler to market your property, here's what she'll deliver:
When taking the listing:
Discuss with the seller their motivation for selling. remember, this is confidential information.
Discuss impact of current market conditions, e.g. season, types of financing, length of time on market
Review Guiding Principles and explain that competing offers may be received and that the seller decides whether to disclose the existence and/or terms of offers to other licensees and/or buyers
Confirm that the seller - not the agent - will make decisions about how and when ofers will be presented, negotiated and ultimately accepted or withdrawn
When the offer is received:
Advise the seller of the receipt of the offer (s)
Promptly present the offer(s) unless otherwise instructed (preferably in writing) by the seller
Discuss the terms of the offer(s) - if competing offers, compare terms
Inform seller of any other interest in the property (Potential of other offers/scheduled showings/recent showings that may require followup)
Seller's options - one offer:
Accept, reject, counter, delay during time for acceptance to seek out other offers
Explain pros and cons of each option - including the potential of a buyer withdrawing an offer during a delay
Seller's options - competing offers:
Accept one offer
Reject all offers and encourage better offers
Counter one offer (may withdraw counter, in writing, prior to acceptance) do not inform other buyers
Delay acceptance waiting for another offer
Alert one or more buyers that they are in a competing offer situation
Alert all buyers that they are in a competing offer situation
Consider the pros and cons of each option - delaying or inviting all buyers to make their "best" offer may produce better offers or may discourage buyers, who may withdraw
