There are 2 approaches to handling Multiple Offers.
The first approach is for the Seller to instruct the Listing Agent to ask for the “Best and Final” or “Highest and Best” offers from all potential buyers. This process carries some risk. It may cause some buyers to back away. Buyers don’t like to bid against themselves and don’t like bidding wars. It’s a risk the Seller takes.
The second approach is for the Seller to pick the offer that looks the best and negotiate that one. If it does not work out, the Seller can move on to the next offer – if it has not been withdrawn. There is no rule that the Seller must negotiate the offers in order or that the seller must choose any particular offer - so long as the process is fair and does not violate Fair Housing rules.
The key is that the client decides how they wish to proceed – not the agent.
Principles To Follow
Practically speaking, negotiating multiple offers comes down to these principles.
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