How hot is the market?

16 showings and 5 offers the first day on the market.  Granted, it was in a very popular neighborhood, but still….that’s hot!

I had a lot of fun that day.  It was stressful as heck.  Trying to keep up with all the showings.  Then the offers started rolling in.

I try to put my new listings on first thing in the morning or in the evening.  I want every buyer in the market to see the house on it’s first day.  If you put in on midday, you get some showings that day and then some more the next.  I love it when I know buyers are seeing others buyers coming and going all day.

The first offer was full price and contingent on selling a property.  That one was out pretty much from the beginning unless we didn’t get other offers.  Then an offer for nearly full price but contingent on closing a house.  That is better.  Then an offer close to full price but contingent on nothing to sell or close.  That was a good one.  Then a full price offer contingent on closing a house.  Then a lower offer that gave the sellers and I a good laugh.

Once I told all the agents about the other offers we had in hand, one of them raised their offer to just over the asking price.

What you do in these situations is pick the one you think is most likely to work out and try to get them to meet the better terms of the other offers.  So, we countered the offer with no contingencies for the highest price offer we had.  Those people came up to the full asking price, but wouldn’t go higher.  NEXT!  We then countered one of the offers that had a contingency to close.  We picked this one to work next because the buyer had better financing terms and a house that would be easier to sell should that buyer’s sale fall apart.  That buyer got the house.

While it was fun and I did get my seller the absolute best deal possible, it was a little tough for me.  I knew 3 of the 5 agents.  It was hard to tell them that their buyers did not get the house.  I thanked them all and explained why we went with the offer we did.  They all did a great job playing the cards their clients dealt them…..I only wish I had 4 other listings just like this one to sell them.

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