Pick An Offer in Boca Raton, FL
Boca Raton Real Estate
In many of today's strong real estate markets, home sellers can expect to receive multiple offers for their home. Multiple offers are a classic example of economic realities because they appear when the supply of homes for sale is limited and the demand for good-condition homes is strong. Sellers love multiple offers because they push up home prices and create an opportunity to spark a bidding war. Knowing how to respond to multiple offers can help you get the best price and terms for the sale of your home.
How can I make sure my home will
attract multiple offers?
TIP: Make sure your listing agreement states that your Boca Raton Florida real estate agent will put your home in the Multiple Listing Service (MLS) within 24 hours. Some agents will hold a home off the MLS for a day or two in hopes of selling it themselves or in-house. Putting the home in the MLS as soon as possible is in the seller's best interest because the home then will be exposed to a much larger number of potential buyers.
Do I have
to accept the offer with the highest price?
Being greedy can back-fire. Boca Raton Florida REALTOR® Rae Wayne of The Bizzy Blondes team with RE/MAX Westside Properties in Culver City, California, says one seller instructed her to tell all the buyers' agents that offers would not be considered until the Boca Raton Florida property had been on the market for one week, unless the offer was full-price or better. One Boca Raton Florida real estate agent asked to submit an offer right away, but the sellers, who were hoping for multiple offers, insisted on waiting until the appointed time. A week later, that Boca Raton Florida real estate agent was still the only one ready to submit an offer. "The seller said to me, 'What if we plan a party and nobody comes?' I said, 'That's the risk you took when you didn't want to look at this offer four days ago,'" she says. If you delay, anything can happen, including the buyers losing interest or offering a lower price.
My Boca Raton Florida real estate agent says I should receive all my
offers by fax, rather than having the buyers' agents present the offers. Is that
TIP: You might want to receive all the offers by fax, then have the top offers presented. Either way, you, as the seller, make the rules.
One of the buyer's agents is from the
same brokerage company as my agent. Should I give extra consideration to this
TIP: Some brokerages give the seller a commission break for an in-house transaction. This concession is known as a "variable commission" or "listing broker advantage." It should be discussed in advance and disclosed through the MLS.
Can I counter more than one
Can I back out of my escrow with
buyer A and accept a new higher offer from buyer B that my Boca Raton Florida real estate agent just
My home has been on the market for
four weeks, but I haven't received any offers. Is this situation my agent's
Purchasing a home without the services of a licensed Realtor can lead to delays and contractual misrepresentations.
These pages are not intended to replace the services of your realtor.