Real Estate Fight Club header image 1

Real Estate Fight Club

25
Mar 2020

Episode 26: Should Listing Agents Allow Multiple Showings at the Same Time?

March 25, 2020

In Episode 26 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether listing agents should allow multiple showings at the same time. Hear why Jenn feels that they absolutely should, and why Monica emphasizes communication in these circumstances. 

Episode Highlights: 

  • Should listing agents allow multiple showings at the same time?
  • Jenn says absolutely.  
  • Jenn says the number one benefit is that it can create an auction effect.
  • Even if those are the only two showings you have all week, it creates the feeling that this is a hot property.
  • Urgency has created a negative impact on buyers over time because they don't want to be in a bidding war.
  • Monica finds that the sense of urgency can cause people to do things before they've thought it through.
  • On one occasion, Jenn was representing a buyer in a multiple offer situation. They got it but then the seller didn't respond to any inspection requests and it voided the contract and they took another one.
  • The obvious benefit of having multiple showings at the same time is to create competition.
  • This is also efficient for the sellers.
  • Watch out because buyers may act re-actively in these situations. 
  • If you have a house that is small, it may feel smaller with lots of people there. This also applies if you have a driveway issue.
  • Monica reminds us to talk through this issue with your sellers so they know how to respond.
  • Ask your buyer how they feel about this situation in the consultation process.
  • Ask if they want to avoid that time or maybe they don't care. Understand how your buyers feel.

3 Key Points:

  1. Holding two showings at the same time can create a sense of urgency for buyers.
  2. The obvious benefit of having multiple showings at the same time is to create competition. 
  3. Remember the buyer’s perspective. Communicate with them and prepare them for this situation. 

Resources Mentioned: