Handling Multiple Offers
If you have a listing and receive multiple offers on it, its crucial to treat all buyers fairly and equally and give everyone the same opportunity. The verbiage below is how I handle multiple offers situations on my listing.
"Good morning [Realtor], please be advised that multiple offers for the purchase of this property have been presented. At this stage we are informing all the parties that we have multiple offers and offer the option to resubmit their highest and best offer. by [time] on [date].
We will follow the following procedure to handle the multiple offers:
1. Inform all parties of the multiple offers.
2. Each interested party is requested to submit their "best" offer to the listing agent.
3. Seller will accept or provide a counter offer to the offer which the Seller determines to be the "best" offer.
4. In the event that more than one of the "best" offers has similar terms, as determined by the Seller, Listing Agent is to invite selected Buyers to additional round(s) of the multiple offer process.
Please advise me whether your customer/client would like to revise their offer or keep their existing offer as their highest and best."
Luck is what happens when preparation meets opportunity.
Brokermint has an offer submission link and allows you to mange multiple offers much more easily than trying to manually keep track of the status and communications on each offer. It allows easy communication with any/all parties involved in all of the offers, automatically attaches and stores documents from all offers to the property and provides eSigning of any documents easily from within the transaction record.
You can also use this feature for handling single offers.