I spent the last week fielding multiple offers for a house I listed in Agoura Hills. It was a remodeled single family home under $700,000 which made it the lowest priced single family home in Agoura Hills. No surprise there was a ton of interest.<\/p>\n
We received 9 offers within a couple days.<\/p><\/blockquote>\n
As I was evaluating each offer, I was thinking about how many other variables come into the equation when deciding which offer to take and which offers to avoid in multiple offer situations.<\/p>\n
With all things being equal (or close to equal), it often comes down to the agent and how the offer is presented. While you may think this is unfair or shouldn\u2019t matter, the truth is – it does.<\/p>\n
Agents That Reduce Your Chances of Getting Accepted<\/span><\/strong><\/h3>\n
The Out-of-Area Agent<\/span><\/strong> – I received calls from agents all over Southern California from San Bernadino to Valencia to Santa Barbara. Out-of-area agents aren’t members of our local MLS so they don’t have access to all the relevant info. Out-of-area\u00a0agents don\u2019t know the nuances or our market. Out-of-area agents don’t know the local requirements of our cities and counties. Plus, this is a relationship business. Who has the advantage, the agent I know personally and worked with over the years or a stranger from out of town?<\/p>\n
The Discount Agent<\/strong><\/span> – A discount agent is typically inexperienced and\/or unable to make it on their own so they work for a discount broker who sends them clients. The discount buyer<\/em> is someone who is looking for a commission kickback and is willing to work with a less skilled agent mistakenly thinking they will be saving money. The truth is that both the buyer and the agent are at a disadvantage when competing with a traditional agent. That\u2019s just reality.<\/p>\n
The New Agent<\/span><\/strong> – We all start out new at one point and it\u2019s tough, but experience matters. A new agent will often be out maneuvered by a competing veteran who\u2019s been through the multiple offer situation many times.<\/p>\n