I can’t explain it, nor will I take credit for it. One of my listings was on the market for over 3 months when 2 offers came in within 24 hours of each other the week before last. Last week an offer came in on one of my listings that had been on the market over 2 months. Two other Realtors had told me to call them if an offer came in. I did and we ended-up with multiple offers for that house as well.
Multiple offers aren’t that unusual when a home first comes on the market and is priced right. I had a listing this summer that got 5 offers in the first 5 days. Another listing of mine in had 3 offers in the first 4 days on the market.
However, multiple offers are much less likely after a home has been on the market a month. The buyers who were waiting for that type of home to come on the market, have already looked at it. Showings slow down, so the chances of two or more buyers making an offer within a day or two of each other are greatly reduced.
As I said, I can’t explain it, but multiple offers can and do happen when a home has been on the market for months.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
