We are seeing multiple offers on almost every strong property in the Denver real estate market.

Definition: A multiple offer scenario occurs when multiple buyers submit an offer for the same home, therefore decreasing the buyer’s power in the negotiation drastically. Conversely, for the seller it increases the “auction” situation where they are more likely to get a higher price for their home due to the higher demand.

With the inventory state of the Denver marketplace and current low interest rates, we only anticipate this situation will continue to occur. Customers working with Brixton get inside access to our negotiating techniques. Here are a few of the basics to help you get started:

For Buyers:

  • Be prepared with your team and resources – Having your real estate broker, lender and finances ready can help you move quickly when you find the home you love.
  • Understand the market value – Even if you love the home, overpaying just because there are multiple offers could be problematic in the future when you go to sell. Having a partner like Brixton on your side can drastically increase your knowledge of how to effectively assess the value of the home you want to buy regardless of multiple offers.

For Sellers:

  • Establish your end goal – Determine what outcome is satisfactory for you before you start reviewing offers.
  • Always look to create and auction – You need two or more buyers bidding on your house to have an auction. This scenario can lead to optimal selling conditions both with price and ease of sale. Ask Brixton how we can help you create an auction with your home.
  • Determine your timeline and strategy – Get help from your broker establishing the ethics of the multiple offer scenario, what is the time you will give to respond and how will you measure the offers. Also determine how you will respond to the offers that are not chosen, and again be careful, you may have to go back to those other offers if something goes wrong with the one you select.