Yes I would tell the agent that you are currently negotiating an offer. If the client then is interested it will tell them to hurry up and get their offer in.

I was very open with agents about this and even let them know when was a good time for a 2nd showing due to other 2nd showings. The one I accepted already increased their bid enough with their first offer that I didn't bother counter the other. In my case they just looked a whole lot better on paper (no house to sell either) than the other buyer did too. Plus their offer was already borderline for an appraisal, but their money down showed they could handle it even if it didn't appraise. The other buyers numbers didn't look as sure that they would be able to pay along with some other less than for sure things even if it didn't appraise so hence my decision.

Thanks, that's good to hear. We've had a lot of lookers, but these people were the first we've had come see it who were actually ready to buy, so it's encouraging that they picked ours after viewing all the other houses in town. The couple coming this afternoon are also visiting in order to buy for relocation, so it will be interesting if they go for ours too. I hope so, it would be great to have two offers to choose from!

This is where the art of feet dragging comes into play if you so desire. After the showing today, call the agent for feedback and ask if they are contemplating an offer. If so, then you should disclose that you currently have an outstanding offer. Be proactive, so you know what this buyer is going to do, so you now how to properly move forward with the other offer.

On a related note, here's the situation and what I know.

They spent 2 1/2 days viewing homes here. Before they got here they had an accpeted offer on an older home contingent on them seeing it. That house was a brand new listing for 325k. After they saw it and realized it needed hundreds of thousands in maitenance and updating they canceled their offer. At the end of their home viewing spree they came to see our house and really loved it. They came with an aquantaince of mine who also told me they loved it and thought it was a very good buy.

He calls me this morning and offers 290, mumbles about comps and a FSBO down the street (priced lower but smaller and not anywhere near as nice as ours and in a worse location). He says that much higher than that would be harder for them to do.

Now, I'm thinking we'll counter with 310, which we'd be happy with, and not go lower. Am I right to think it's all just part of the game to insinuate that's their max? I'm pretty much positive they couldn't have gone much lower than asking with their offer on the house they changed their mind on.

It is all a game in negotiating and I wouldn't consider it final until you have something on paper. There is absolutely nothing that stops anybody from trying anything or hinting that is their max. If you are sure of your price I would also bring up comps to support your price with your counter and so be it if they can't afford your price as that is not your problem. They'll have to go look elsewhere, but I would take your time with agreeing on something to allow the other people some time to make a decision too.

You know you are priced well for entering the market. What do houses typically SELL for in comparison to their Marketed price?

Are you in a market that sells at or above asking? Or, are you in a market that sells 2% under? Or...

Those questions should help inform your counter confidence.

This season things have been selling quickly at their listing price, both according to the realtors I've spoken with and the comps I've looked at.

Isn't it standard practice that you have 48 hours to respond to an offer? Meaning the new potential buyer can come have a look, you can say you have received an offer that you need to respond to by x day and time, and that tells the potential buyer that they have so many hours to get an offer to you if they are interested.

I had a good laugh at "Before they got here they had an accepted offer on an older home contingent on them seeing it."

Good luck with your counteroffer.

Did you call the other buyer's agent to see what they are thinking? This is a piece of info that I would have gotten right a way. Then you know what to do with the first offer.

NC-- the second couple's realty told me after the second showing that they really like the house. However, they have a house they need to sell (Wish she would have told me that ealier) so they won't make an offer at the moment. She wants me to get back to her if the current negotiations fall through.

We countered with 310 and said we wouldn't go lower. So we'll see what happens now....