When there are multiple offers on a property, the way you negotiate changes completely. I represent buyers, so here is a series of techniques that I use to have my clients be successful, because it is harder to get the home for your client when you have to win the competition.

The first thing you need to discuss with your client is how badly they want the home. Then you have to determine is what the listing agent is looking for in a buyer and what provisions are appealing to the seller.  The more of the desired terms that you give the seller, the more likely you will be the successful suitor.

The next thing you need to know is what procedure the agent representing the seller is going to follow to respond to all of the offers.  The most important information is how many buyers are making offers. If you are going to be the successful bidder, you will probably need to go over the asking price. How high you need to go depends on the number of buyers.   If you are in an area where multiple offers are not common, you may have a hard time convincing your buyer to offer more than the asking price.  Then it is crucial to show the seller that your client can close the sale, absolutely, for certain, no ifs ands or buts.

One other way to separate your buyer from the others is to commit that you will take the home “as is”, but retain the right to inspect the house.

For a more detailed discussion on this topic, please go to http://createagreatdeal.com/negotiating-multiple-offers/for-buyers/.