There are a lot of misconceptions about selling Sarasota real estate with multiple offers.
SELLERS DICTATE THE PROCESS
As your listing agent, my role is to offer advice to help you get the highest and best offer for your Sarasota real estate for sale.
We will be discussing several scenarios, such as:
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Disclosing multiple offer status to all prospective buyers;
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Setting a date and time for prospective buyers to submit offers;
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Deciding to work with one buyer and keeping other offers on the table, or rejecting lower offers and countering the highest offer;
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Disclosing terms of offers to competing buyers, to get the highest and best offer.
As the seller, you can decide how to approach the negotiation as long as your instructions do not violate the law (such as Fair Housing laws).
Instructions to me on how to handle multiple offers should be in writing to avoid confusion and possible liability.
BUYER'S AGENT ROLE
My years of experience tell me that keeping the buyer's agent fully apprised of the process and timetables is the best way to assure potential buyers have the necessary time and information to submit their offers.
Buyers who feel the process is unfair will abandon a possible offer and move on to other properties. That buyer may have ended up submitting the highest offer.
I can advise you on buyer behavior and the best way to handle a multiple offer situation from their perspective.
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