There are some simple ways to organize multiple offers successfully.
When you’re dealing with different listings that have multiple offers, things can quickly get out of control and lead to a lot of confusion. That’s why it’s important to keep everything organized by including three key things in your multiple offer summary worksheet.
First, you obviously want to include the contact information for the listing, such as the address, seller’s name, etc. Next, you want to list all of the information regarding the contract—using a spreadsheet can help out a lot with this. This includes:
- The names of buyers
- Their agents
- The offering price
- Seller credits
- Purchase price
- Escalation clauses
- Earnest money
- Down payment percentages
- Types of loans
- Closing dates
- Additional comments and information
You should also create a columned list of all the offers made, as well as their terms. While this is great for personal reference, it’s also something you can share with your sellers when you’re discussing offers. It helps further when coming up with counter offers, as there’s far more to consider than just the price. You’ll want to be able to easily look at the terms, how much they’re putting down, and other information mentioned in the list above.
If you take the time to organize your listings in these ways, you’ll find the process of managing multiple offers becomes much, much easier. If you have any questions or would like more information, always feel free to reach out to me. I look forward to hearing from you soon.