Jed Weingarten

The number of homes sold in Anchorage through May of 2011 was down 7.9% compared to 2001. The median price, however, was up 1.72%. If you would like more statistics for the Anchorage real estate market contact Jed @ 907-727-5333. Enhancing Your Real Estate Experience. To search all the properties for sale in the Alaska MLS and get local recreation information go to:

http://web.me.com/jedweingartenak

or call Jed Weintgarten 907-727-5333

Realtor

Vice President, Dynamic Properties

Custom home with unique floor plan. Massive sunken living room with built in desks, shelves, and cabinets. Kitchen remodel includes quarts counters and full open extra deep soft close drawers. New gar door. New 95% efficient furnace. 3 bedrooms. 2 full and 2 half baths. Huge laundry room. Main floor den/office could be 4th bedroom. Tons of storage and light throughout. Fenced yard with deck, shed, and play area for children. For photos and more info go to:

http://www.flexmls.com/link.html?u87f24tcnwi,2,1

Enhancing Your Real Estate Experience

If you know someone looking to buy or sell property in Anchorage or Eagle River Alaska

contact Jed 907-727-5333 Dynamic Properties

Multiple offer situations can be stressful for buyers, sellers, and Realtors. A multiple offer situation occurs when the listing Realtor has more than one offer in hand. A promise to write an offer in the future does not count although some listing Realtors may use the it for negotiation leverage. A Buyers Realtor should ask the Listing Realtor if all offers have been received in writing. An offer is accepted when it has been delivered to the seller and the seller delivers signed copy to the buyer. If an offer is delivered but not received it's not valid until receipt. Always obtaining confirmation of reciept is one way to minimize confusion. Once we confirm there are really multiple offers I like to ask the listing licensee if any of the offers are with them as the selling Realtor. Their response is either no or "it doesn't matter" (yes) or yes. This helps me as a buyers Realtor understand our negotiating position.

Handling multiple offers is a negotiating strategy. The process depends on the situation. Clients may prefer different stategies. Brokers do not have a standardized process nationwide. NAR offers "A Buyers' and Sellers' Guide to Multiple Offer Situations." I am not aware of state or federal laws or regulations pertaining to legalities. The role of the Realtor is to present the options to the seller so the seller can make the best possible decision.

The proceedure that I suggest starts with a checklst in a form deliverable to all parties.

1. Notify all Parties in writing that the seller has received multiple offers

2. All offers will be presented _____ time ______day

3. Seller will counter or accept the offer they like best

4. If not accepted seller to counter to next best offer.

The seller needs to understand that there are risks to notifying all parties. Some buyers will walk. The buyer should understand it's not about who's first, it's about the content of the offer.

In my opinion sometimes Realtors create multiple offer situations because they think it benefits the seller, and sometimes it does. In some multiple offer situations nobody ends up happy. The buyer thinks they overpaid, which may be the case. Other buyers want the house they didn't get. Sellers think they under priced. Rather than taking steps to create multiple offers I think its best to go with a good buyer represented by a good Realtor for a good deal. Many times, however, a multiple offer situation can't be avoided. The best way to handle it is appropriate communication to the buyers and informing sellers of options so they can make educated choices.