Home Selling in Bath>Question Details

Savina A Pav…,  in Broadview Heights, OH

If I have a Realtor who showed my home and I also had a private buyer is it wise to let each know that I have another buyer interested in my home?

Asked by Savina A Pavluk, Broadview Heights, OH Mon Aug 16, 2010

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Sounds like you are talking about having 2 parties interested in your home at the same time and you want to know if you should let the other know that there is another buyer out there.

This could go either way. By letting each party know about the other, one of them may make a move thinking that they may miss out if they don't, or both could make a move and you could have a bidding war on your hands.

The other thing that could happen is that each party decides that they do not want to get into a bidding war and one or both back away leaving you with no interested parties.
1 vote Thank Flag Link Mon Aug 16, 2010
Hello Savina,

I am guessing that you are offering your property For Sale By Owner? Regardless, if the REALTOR's buyer had a continuing interest, it would have been made known to you, as the REALTOR would have came back to you with more questions and dialogue about your property on behalf of that buyer. As far as the private buyer? You probably have no idea if they can even buy your property, or any property, for that matter. If it were me in this situation, I probably would not say anything to either party unless asked. Maybe something like "We have some parties looking at it, but who knows? Whoever gets here the firstest with the mostest!"

Jim Dvorovy, REALTOR
Cutler Real Estate
203 Applegrove NW
N. Canton, Oh 44720
Cell 330-685-4615
0 votes Thank Flag Link Tue Aug 17, 2010
Patrick is right; this could work for you or against. It's critical in negotiations like this to have a professional who can assess the seriousness of each "buyer." Giving up the other party too soon or with a skittish buyer may scare folks off. Until you have an offer in your hand, you have nothing. I've had countless agents tell me they were serious and going to write something that never came to be. Buyers are a rare commodity in most markets, treat them carefully.
0 votes Thank Flag Link Mon Aug 16, 2010
If you sell to the private buyer, you may owe the real estate agent a commission. So, it may help to get everyone together so the agent can do the deal right for all y'all!
Web Reference: http://fglick.com
0 votes Thank Flag Link Mon Aug 16, 2010
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