Multiple Offers Put You in a Stronger Position

One buyer making an offer is good.

Several buyers wanting the property at the same time is much better.

That is one reason why I place so much importance on competitive pricing and creating plenty of interest early in the marketing campaign.

If two or three people genuinely want to buy the property, your agent has something to work with.

Instead of negotiating with just one person, they can ask interested parties to submit their strongest position, multiple offers shouldn't be treated as a negative thing.

This can lead to a best-and-final-offer situation.

Each buyer then has to decide what the property is worth to them and how much they are prepared to offer to avoid losing it to somebody else.

You cannot manufacture genuine demand if nobody likes the property.

But you can create the right conditions for competition.

Good presentation helps.

Good marketing helps.

An open house can help.

Most importantly, the asking price has to encourage buyers to engage with the property in the first place.

Some sellers think that starting with the highest possible asking price gives them the strongest negotiating position.

It can sometimes do the opposite.

If the price prevents buyers from viewing, there is nobody to negotiate with.

Several interested buyers give your agent far more opportunity to achieve a strong result than one reluctant buyer ever will.