When the topic of real estate comes up, let’s face it – there’s no shortage of strategies, protocols, and emotions at play in every transaction. So, what happens when a co-operating broker wants to show a property even after an offer has been made? How should a listing broker salesperson respond? Below, we’ll unravel this scenario and shed light on best practices that not only protect your interests but could also put more money in your seller’s pocket.
Imagine this: You've been juggling multiple offers on a property, and you get a call from another broker wanting to show it to their client after you’ve already received a formal offer. Now, you’re faced with a challenge that could potentially shake things up for your seller. What do you do?
The best response here is to encourage the showing. You might wonder why? Well, think of it as fishing in a pond already buzzing with activity – if you can get more buyers in the door, there's a good chance of sparking a bidding war, which could drive up the sale price. The real estate market can feel a bit like a chess game; you want to keep your options open and create opportunities for your seller.
Now, some might argue that since there’s already an offer on the table, why bother? Here's the thing: each showing is a chance to explore what other buyers might be willing to pay. It’s not just about the current offer; it's about what the market can bear. After all, you’re working for your seller, and part of that job is striving for the best possible financial outcome.
You’re likely asking yourself: “How do I protect my seller’s interests while encouraging this showing?” It’s a tightrope walk, but definitely doable. Here are a few aspects to consider:
Maintain Open Communication: Keep your seller informed about the request. Transparency fosters trust.
Set Boundaries: While encouraging the showing is vital, clarify to the co-operating broker that the existing offer is still under consideration. This keeps everyone in the loop.
Monitor Market Conditions: If the market shows signs of rising prices or interest, this could heighten the urgency of the situation.
Emphasize the Potential: By reminding your seller that multiple showings can lead to more offers, you create a supportive environment for them to feel confident in allowing more foot traffic through their home.
Let’s put this into a real-world context. Say you have a property listed at $500,000. The seller feels thrilled about the $490,000 offer they received. You encourage a showing to a second potential buyer who is on the fence. After seeing the property, this new buyer might offer $495,000! That little bump might just push your seller’s sale price closer to their desired number. You had the foresight to look beyond the initial offer!
In the fizz and buzz of the real estate industry, it's essential to remember that every interaction with a buyer or broker can swell the potential of a transaction. By encouraging showings even after an offer is made, you’re playing a strategic role in your seller’s journey, and who wouldn’t want to help a client get the best deal possible?
So the next time you’re in that tricky position of a co-operating broker asking for a showing post-offer, just remember: you hold the reins. Embrace the opportunity, keep your communication clear, and focus on securing that top dollar for your seller. After all, in such a competitive market, every showing counts!