competing offers, home offers, making an offer to seller

Buyers

When the Offer is Made


Remember the possibility of other competing offers, when you formulate an offer or counter offer. The Broker and/or the Buyer may not have actual knowledge about the existence of competing offers. Therefore, the initial offer may be the only opportunity to buy. It is important to recognize there is no requirement that the Buyer be informed by the Seller or Seller's agent of the existence of other offers before another offer is accepted.

The Seller has the right to negotiate with only one Buyer at a time and not reveal this to other Buyers. This negotiation may continue until the Seller accepts an offer.

The terms of a Buyer's offer are confidential, but the existence of the offer may be communicated to other Buyers to obtain better terms or price. This is strictly the decision of the Seller.

The Seller may accept an offer on terms other than price.

All Buyers may be notified to present their highest and best offer.

The Buyer may choose to:

 Make a better offer
 Leave the original offer
 Withdraw the offer in writing if the period for acceptance is current
 Do nothing

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0Broker Focus: Patrick Wood by HELPUSELL pats pr pics 003 300x225 Broker Focus: Patrick Wood Patrick Wood Anyone who has driven through Chino Hills, Calif., probably recognizes Patrick Wood’s name. He’s known for his ubiquitous signage. “The technique that brought me huge success in my core market was to start branding my name with the Help-U-Sell Office,” says Wood, who has owned Help-U-Sell Prestige Properties since 2003. All of his staff members have magnets on their cars that have his name and the Help-U-Sell Real Estate name, and his main work vehicle has a wrap that stands out. “The real estate signs and open house signs [also] have resulted in huge recognition, and the community has responded amazingly well,” he adds. “I constantly hear how people see my signs everywhere.” Of course, there is more to his success than signage. Wood, whose office has closed 54 sides so far this year, emphasizes the importance of offering full service and commission savings in attracting clients. “I found this to be necessary as other agents were trying to compete with my office by suggesting the clients would have to do all the work,” he says. “The full service leaves the client satisfied, which results in referrals, so it has been beneficial.” For new Help-U-Sell Brokers, he recommends continuing the full-service concept through to the office setup. “[In our office] a team concept has been put in place, and it provides clients with access to licensed assistants seven days a week,” he says. “Service is big, constant contact is big, working together is huge. This is a crazy, intense field and having the support of a team makes it much easier and productive.”