The Negotiation Process
Your Select Real Estate agent is here to represent your interests. When negotiating the details of your transaction, our agents will respond professionally on your behalf. Each negotiation should be guided by the following principles:
Confidentiality: It is our responsibility as real estate professionals to maintain confidentiality. We base our reputation on this principle.
Responsiveness: Time is of the essence in a real estate transaction. We will act quickly upon any opportunity by expediting the presentation of offers and counteroffers.
Resourcefulness: Your real estate transaction is important to us. We, as professionals, examine all strategies and solutions to meet your goals.
Communication: Select Real Estate agents ensure that all aspects of the negotiation and options are communicated clearly and precisely to you during the selling process.
Multiple Offer Negotiations
Sometimes, sellers will have several offers to consider. There are many ways to deal with multiple offers. Sellers can counter one offer and reject the rest. They can counter one offer and wait for a decision while holding off on the other offers. Or, they can simply accept the best offer.
The seller decides on how offers will be presented and dealt with. The listing agent can only offer suggestions and advice.
There are pros and cons to negotiating multiple offers. A low offer may result in selling a property for less thanthe listed price. Sometimes, there can be several full price offers.
Your real estate agent will explain the pros and cons of negotiating strategies. However, you are the only one who can make the decisions.
Offers are not confidential. Sellers may want other buyers to have knowledge and disclosure details about other offers on the table in hope of convincing a buyer to make a higher offer.
Realtors are required to follow lawful, ethical instructions from their clients. However, the Code of Ethics does not prohibit Realtors from disclosing terms of offers.
Remember that your real estate agent's advice is based on past experience and does not guarantee how any particular buyer will respond in a specific situation.