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Winning with Competing Offers

Chuck Marunde by Chuck Marunde
September 6, 2019
Reading Time: 2 mins read
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Competing offers on a listing do occasionally come in on the same day, and I’ve written about multiple offers, but one of my clients reminded me that sometimes it is about more than just the price. This is a true story about two offers on the same day at the same price and why the seller picked my client’s offer to seal the deal.

Competing Offers

Competing Offers a Realty

Larry and Shirley won the competing offers contest. Larry reminded me of this in his email yesterday:
 
There were 2 offers on this house at the same price, on the same day. I asked the seller why he chose our offer. It was not any contigencies that the other buyer or we requested. Neither requested any. It was our plans for the house versus the other offerer’s plan. The other buyer was not moving in right away and planned to rent the house out for a year or two. We planned not rent and move in ASAP. The seller didn’t think “renters” were the best idea, considering the neighborhood. So the seller accepted our offer.

Winning with Competing Offers

It’s not hard to understand how one offer like this would win when there are competing offers. Sellers have an emotional investment in their homes. This is especially true for the seller who designed their home and had a contractor build it to their exact specifications. They lived in their dream home, and they loved it during that phase of their life. So selling their home when there are competing offers will come down to more than price. How a buyer intends to use their home is a consideration. Larry and Shirley fell in love with the home they wanted to buy, and the seller learned that they were going to live there and make it their retirement home. All other things being equal, that beat any competing offers at the same price when others planned to rent the house for a while.

Last Updated on September 6, 2019 by Chuck Marunde

Tags: multiple offers
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Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and 60 books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their Sequim Buyer's Agent. 

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