California Association of Realtor’s latest One Cool Thing’s discusses how home sellers handled multiple offers.

If you were a recent home seller, how did you handle multiple offers? The average number of offers received from buyers in the last few years were:

• In 2013, 98% of home sellers received multiple offers.
• In 2012, 3.1% of home sellers received multiple offers
• In 2011, 5.9% of home sellers received multiple offers.

How did sellers respond to multiple offers on their home?

• 77% of home sellers took the highest offer.
• 47% of home sellers took the best mortgage qualified buyer.
• 39% of home sellers took the offer without contingencies.
• 23% of home sellers took the all-cash offer.
• 14% of home sellers took the offer because of the buyer’s ability to close the fastest.

Buying a home in a sellers market? One of the most important things a home buyer can do when buying in a seller’s market is to trust his or her real estate agent’s advice on the market conditions. Since buyers usually do not have an interest in the housing market until they are looking to buy or sell a home, they won’t always know how the market is moving from one season to the next.

With today’s changing market, a home buyer or sellers strategy must be flexible and they should see the guidance of a well-informed real estate agent. Call The Lawhead Team for expert advice!