Here’s how I like to respond when one of my clients gets multiple offers.
When you are a seller and have multiple offers on your home, it’s very common for your agent to say back to all the buyers, “Give me your highest and best offer and we’ll make a decision at 5 p.m. tomorrow.”
I think the term “highest and best” denotes a finality that is premature in my opinion. Instead, the approach I like to take goes something like this: “You sent us an offer, and I want you to know we have multiple offers. Let us know if you’d like to make any adjustments to your offer knowing that there are multiple interested parties out there.”
I do this because we could counter any of these offers, not just the highest one. A lot of people get caught up on the highest price without understanding the importance of contingencies, financing, and everything else that could cause you to lose more than you gain.
If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.