When Two Buyers Want to Buy the Same House in Midtown -- What Should an Agent Do?

By
Real Estate Agent with Lyon Real Estate BRE #00697006

two buyers for same houseI work with such a wide variety of clients that it's rare to run into a situation where two sets of buyers want the same house, but that's what happened last week. I had showed a Midtown home to a charming couple, we'll call them the Andersons, about three weeks ago. However, the Andersons decided to pursue an REO that ultimately sold way over list and at a price outside of their comfort zone.

While I continued to show the Andersons other homes, I called my new buyers, we'll call them the Johnsons, and told them about the home in Midtown, which had a price reduction. The Johnsons fell in love with the Midtown home and wanted to make an offer. The deadline for offer submission, due to a multiple-offer situation was three days away. I suggested they wait until day three to write the offer, after I had a chance to review how many other offers had been submitted with the listing agent.

Meanwhile, wouldn't you know it, the Andersons called to say they had changed their minds and they, too, wanted to write an offer on the Midtown home. Holy, toledo. There was no way I could adequately represent both the Andersons and the Johnsons on this home, even though I could have asked them to sign an authorization form allowing me to represent them both, it would have been wrong.

I could have referred out one of the parties to another agent. But which would I refer? The Andersons saw the home first, but the Johnsons were the first to ask to write an offer.

Seemed to me the smartest thing to do was to find the Andersons a home they would like better. Sure enough, it's like the stars were aligned or something, the next morning a new listing came on the market in East Sacramento. It was priced higher than the Johnsons could afford, but it was the right price for the Andersons. Plus, it had one feature that was more important to the Andersons than the Johnsons. In fact, it was perfect for the Andersons. I called them right after touring the home.

"Guess where I am," I said, "I'm standing in the back yard of your new home. How fast can you get over here to see it?"

We made an appointment to show. I met them on the front steps. Mr. Anderson shook my hand, looked me squarely in the eyes and warned, "Just so you understand, we still want to make an offer on that Midtown house!"

I couldn't help it. This large smile spread across my face, and I nodded, crossing fingers behind my back. "Let's not jump the gun," says I, "until you see this home."

The Andersons walked through the home and stopped dead in their tracks when they reached the back yard. They didn't say anything, but I could hear the wheels spinning and see the electricity shooting out of their ears.

Eureka! They forgot all about that other house in Midtown, immediately wrote an offer on the East Sacramento home and we got it accepted. Two days later, I submitted an offer for the Johnsons on the Midtown home, and even though that, too, involved mutliple offers, their offer was accepted as well. Both the Andersons and the Johnsons found their "dream" homes; both got exactly what they wanted.

Whew. Who says real estate isn't fun???

elizabeth weintraub sacramento real estate agent in land park

Posted by

sacramento short sale agentcerfified hafa specialist

---

Certified HAFA Specialistelizabeth weintraub

 

equator certified platinum short saleequator certified platinum reo elizabeth weintraub

Elizabeth Weintraub reviews

 

 

 

 

 

Sacramento Real Estate Listings

 

 

 

Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available with free shipping.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the computer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Real Estate General Information
Location:
California Sacramento County Sacramento Midtown
Groups:
ActiveRain Rockstars
Club Chaos
Diary of a Realtor
Lyon Realtors
Posts to Localism
Tags:
midtown homes
east sacramento homes
multiple offers
reos
elizabeth weintraub
sacramento real estate

Comments 18 New Comment

Rainmaker
1,149,675
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Put 40 years of experience to work for you
Lyon Real Estate

Hey, thanks, Cynthia. It's a never ending challenge in real estate, which is one of the reasons I love it so much! You never know what the next day will bring. Sometimes I dream about my clients and finding the right home choices. I envy agents who can leave it all behind them once the clock ticks 5 PM. Truly, I do. I'm just not made that way, but sometimes I wish I was.

elizabeth weintraub sacramento real estate agent in land parkelizabeth weintraub sacramento real estate agent in land park

September 16, 2008 08:56 PM
Rainer
22,517
Celina Gleason
AgentOwned Realty

Whoo hoo!  That's what we southern agents say about that quick move!  Congratulations on landing both deals! 

September 16, 2008 09:23 PM
Rainmaker
1,149,675
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Put 40 years of experience to work for you
Lyon Real Estate

Thanks, Celina, but I think I just got lucky. Or desperate. Hard to say which.

elizabeth weintraub sacramento real estate agent in land park

September 16, 2008 09:25 PM
Rainmaker
178,702
League City, TX - Worrell Team, REALTORS, GRI, CNE
Bayou Properties Realty

But what happens if they both insisted on the same house?  I think you would have to refer them both out in order to stay true to the code of ethics.  You can't share confidential info from the 1 client you refer out to the client you keep - but then again, you have to in order to act in that client's best interests... sticky, sticky, sticky....

I like your ending much better than what might have been.

February 27, 2009 11:06 PM
Rainmaker
1,149,675
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Put 40 years of experience to work for you
Lyon Real Estate

Hi Brian: I see you totally understand the REALTOR Code of Ethics. Some agents don't.

elizabeth weintraub sacramento short sale agent

February 28, 2009 09:49 AM
Rainmaker
1,149,675

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents

Put 40 years of experience to work for you
How much is my home worth?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the car to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Broker-Associate at Lyon Real Estate, midtown Sacramento office. Selling since 1974. Homebuying expert at About.com. Best short sale agent in Sacramento. Elizabeth sells homes from Galt to Lincoln.
Meez 3D avatar avatars games

Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for About.com, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you.