Richard Silver

It’s a Great Time for Multiple Offers! From Sellers!

In an area where there are lots of similar properties that might work for your Buyer, why not pick the top three properties they like and contact their Realtors.

Tell the Realtor that you will look at offers from their Sellers tomorrow night at 8 PM.  The Sellers will be in competition to bring in their best offer.

It is a reverse on the past few years of Sellers looking at multiple offers from Buyers. Put the shoe on the other foot! Let’s see if it fits and let me know!!

This entry was posted on Monday, January 12th, 2009 at 2:01 pm and is filed under Buying in Toronto, Selling in Toronto. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Chelle said at January 12th, 2009 at 8:04 pm

   That’s a really unique idea I hadn’t thought of before! It would be an interesting experiment to see how it goes – though would you get the best price for your buyer that way? I’d think a seller would make the offer higher than what the initial buyer’s offer would be.

   I’d still like to try it though!

2. Richard Silver said at January 13th, 2009 at 4:35 am

   The Buyer would have the same option as the Seller did in previous years; they could also decide to take none or sign one back…

3. Mike Belanger said at January 13th, 2009 at 11:01 am

   Like this idea alot but sellers today, as you have pointed out, are still holding onto the hope of multiple higher than asking prices. Also, most agents are not quite as adaptable as you are and would simply “wait and see”

4. Ken McLachlan said at January 14th, 2009 at 5:08 am

   It’s all about a way of thinking. As realtors we need to be creative and think outside the box. Following the same patterns won’t always do it, especially in a changing market. Good on you Richard

5. Richard Silver said at January 14th, 2009 at 7:52 am

   Thanks for your comments Ken. Ken has a great Company Blog at http://remaxhallmark.typepad.com/remax_hallmark_blog/2009/01/one-by-one-off-the-list.html make sure you check it out!

6. Lynn Cromer said at January 14th, 2009 at 10:19 am

   What a great idea! i have heard of this occurring in different market places, but you put it down so concisely that I now get the concept!
   Where do you blog? See my blog at active rain at http://activerain.com/blogs/lynncromer. Are you on Active Rain? If you’re interested in active rain, use me as a reference if you join (it’s free), cause I get points for that!
   Also, how did you leave me a message on Linkedin?

7. Duncan Fremlin said at January 17th, 2009 at 2:13 pm

   As Ken said, an attitude adjustment would be necessary, not just for the agents but particularly for the sellers and buyers.

8. Richard Silver said at January 19th, 2009 at 11:02 am

   Thanks for the comment Dunc. I think that it could work in a Condo building or new sales area where you are starting to see a number of new sales and resale mixes. You never know…

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