AgentMarketing

You have strong offers — cancel the open house?

Some say, 'A bird in the hand is worth two in the bush' while others insist on 'marketing until the ink is dry'
  • Some agents advise holding an open house as scheduled with few exceptions, even if strong offers arrive beforehand. But others say you can risk losing solid buyers if sellers drag their feet too long.
  • Accepting an offer but still holding an open house to collect backups is another option, but agents should think twice before doing this. In any case, it's always the seller's choice.

With homes selling like hotcakes in many markets, sometimes listing agents receive strong offers almost immediately after a property hits the market. If the agent has scheduled an open house for later in the week, that can put her in a tough spot: Should the agent advise the seller to accept an offer and cancel the event, or should she urge the seller to allow the open house to go on as planned? The answer may depend on the strength of the offers and a range of other factors, including market conditions and local customs. Agents can take varying views on the best course of action. But what pretty much everyone can agree on is that the seller should make the call, not the agent. "You explain all facets of the process, and then the seller decides what to do," said Austin, Texas-based Realtor Ryan Rogers in the Facebook group Real Estate Agent Group - Collaboration, Tips & Insights. "Be careful -- seller always makes the decision. You guide them." Still, an ...

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