Our Guide to Tackling Multiple-Offer Situations


If you receive multiple offers on your home, how do we handle all the activity? Today I’ll explain.
Want to Buy a Home? Search All Homes
Want to Sell a Home? Get a Home Value Report


Having multiple offers on your home is a great problem to have. On our team, we love getting multiple offers. In fact, we have strategies specifically implemented to generate and promote these bidding wars on our listings. For one, we always get feedback from buyers and their agents after every showing. If the buyer is interested, we encourage them to make an offer quickly because there are other buyers in the marketplace with their sights set on the property. When we do end up receiving multiple offers, we then call each buyer’s agent back to let them know we’re in a multiple-offer situation. At that point, they know they have competition, which in turn incentivizes them to make their highest and best offer. Quite often in that moment, we’ll have those buyers sharpening their pencils and increasing their offer price. Once we have all buyers’ offers by the deadline we set, we’ll review all the offers carefully. We look at the price first, and then we look to see if there are any concessions—is the buyer asking for any repairs to be made or fees to be paid? Are they asking for any credits or allowances? Further to that, we’ll review each of their closing dates. Is it a quick closing or a delayed closing? If it’s a closing that takes place, say, 90 days down the road, you’ll be paying all the costs to carry the home for an additional 60 days. This factor could make one offer look better than another.



Multiple-offer situations are ideal opportunities
to get you the best price with the best terms
for the sale of your home.



Next, we’ll look at inspections. Are they asking for any inspections? What is their timeline for inspections like? How long will your property be off the market before we know that the buyer will move forward with the transaction? There are actually several different ways to handle a home inspection. One option that I typically recommend is to implement a dollar amount that holds the buyer in the contract as long as the repairs fall below a certain amount. In this way, we won’t lose other buyers in the process. After that, we’ll look closely at the buyer’s qualifications. Are they a cash buyer? And if so, do we have written a proof of funds from the bank that shows they actually have the cash? Or are they planning to get financing from equity in a property or a private mortgage? If they are getting mortgage financing, have they given us a written pre-approval letter from their lender? We always want to make sure that we have the documentation to prove the buyer’s financial ability to purchase your home. Once we’ve reviewed each offer closely, we then determine which buyer meets your needs as the seller the best. That’s the offer that we’ll accept, after which, we’ll let the other buyers know that we’ve accepted an offer and at one point, if any contingencies are involved, they would be removed. At that moment, we may bring an additional buyer into the backup position, in case the first deal falls through. Multiple-offer situations are ideal opportunities to get you the best price with the best terms for the sale of your home. If you’d like help in generating one of these scenarios for your own listing, or if you have any questions, call or email today. Our phone numbers are (239) 248-8000 or (239) 280-0939. I’d love to hear from you.

Rental Property Scams & How to Avoid Being Preyed Upon


Rental property scammers are afoot. How do they operate and how can you protect yourself? Find out in today’s video.
Want to Buy a Home? Search All Homes
Want to Sell a Home? Get a Home Value Report


Scammers are everywhere, and unfortunately, we’re seeing would-be renters fall prey to them as well. Today I’d like to cast some light on how these scams work, so you don’t become a victim yourself. Someone posing as a property owner will post an ad with photos of the property they’re claiming to sell. Typically, those photos have just been pulled from a legitimate listing that has been offered for sale or for rent. The ad will include these lifted photos, a description of the property, and here’s the kicker: a temptingly low rental rate. This “c’mon rate” entices potential renters to respond. Once they do, they’re instructed to either forward a check, a cashier’s check, or to wire funds. As soon as the money goes through, the ad, along with the scammer, vanishes. The deal was too good to be true, after all, and you’ve thrown away the money you forwarded.



To avoid becoming a victim of this trap, work only with a reputable real estate broker, property management company, or vacation rental agency.


To avoid becoming a victim of this trap, work only with a reputable real estate broker, property management company, or vacation rental agency. If you’re directly doing business with an owner or a private party, be certain that they own the property. The best way to do that is to go meet the owner and see the property. There are publicly available options for you to check the legitimacy of a homeowner’s claim of possession and to cross-reference that information with the phone number they list. However, I strongly caution you against putting too much stock in a phone number because scammers have ways to duplicate them, and fraudulent calling systems operating outside of the country disguise themselves as local numbers. If you have any questions or would like more information, call or email today. Our phone numbers are (239) 248-8000 or (239) 280-0939. I’d love to hear from you.

The Summer Forecast for Real Estate in Southwest Florida


It’s summertime in Southwest Florida and our weather isn’t the only thing that’s heating up. Here’s what you can expect from our real estate market in the coming months.
Want to Buy a Home? Search All Homes
Want to Sell a Home? Get a Home Value Report


Everyone is asking me about what’s going on in the market, and what I expect will happen this summer. Right now, we’re very busy and the summer market is hot. We’re seeing a lot of buyers today after a slow start to the season. There were far fewer buyers at the beginning of the year than we usually see, but starting in April, we saw a lot more activity. That said, we’re anticipating that we’ll be extremely busy through July, August, and into the fall. This creates a huge advantage to those who choose to sell now. With little inventory on the market right now, your home will really stand out. Less competition means a faster sale and a higher price for you. Additionally, interest rates are low and projected to rise.



Interest rates are low, which is pushing
more and more buyers into our market
.



We have an election year coming and while things are stable, it’s an excellent opportunity to sell. Interest rates are low and it’s pushing buyers into our market. You can actually net more money right now by having a higher sale price and eliminating the cost to carry. By selling now, you will not have to pay until next season. If you’re thinking about selling, we should be talking. Call or email today. I’d love to hear from you.