Colorado Handling Multiple Offers

Multiple offers often happen in a seller’s market when competition for residential property is greatest and there are more buyers than there are properties for sale. However, it can occur in any market and especially for properties within an affordable price range.

The seller’s expectation (multiple offers or not) is to get the best price possible in the situation. Buyers expect to have a chance to get their best offer in front of the seller for consideration. Problems handling multiple offers stem from disregarding their expectations. Therefore, dealing with multiple offers involves using practices and procedures that give the seller a chance to get the best price possible in the situation and the buyers the chance to get their best offer in front of the seller.

It is the presentation and agency duties that create most multiple offer problems. When presenting multiple offers to sellers, real estate licensees must follow their state’s licensing rules and regulations and REALTORS® must follow the NAR Code of Ethics. This course describes how listing agents should present multiple offers to their sellers and how buyer’s agents may help buyers make their offers attractive to sellers.

It is intended to enhance the knowledge and effectiveness of real estate licensees and is approved for 2 hours of continuing education.