Maximizing Property Value: The Art of Encouraging Viewings in Real Estate

When you’re in the thick of the real estate game, every decision has the potential to make or break a deal. One such crucial decision comes into play when a co-operating brokerage reaches out for an appointment to show a property on the same day an offer has been made. So, what’s the appropriate course of action?

Let’s unpack the scenario—imagine you’re the listing salesperson. You're juggling offers, showcasing properties, and your phone rings. A co-operating brokerage wants to schedule a viewing for their client today. Here’s the thing: this is not just a routine request; this is a golden opportunity. Do you encourage the viewing, hoping to start a bidding war, or do you slam the door shut?

According to the best practices in real estate negotiation, the correct answer is to encourage that viewing. Why, you ask? Well, it’s all about setting the stage for competition. Bidding wars can drive the sale price higher than expected, much to the delight of your seller. After all, who doesn’t want the best bang for their buck?

A Missed Opportunity?

Let’s explore why the other options just don’t cut it. Discouraging multiple viewings only stifles potential interest. Scheduling the appointment for the next day means losing momentum when the market is hot. And let’s be honest: transparency isn’t always the best policy in high-stakes sales. Telling a co-operating brokerage that there’s already an offer? Not the best strategy if you want to entice them further. Refusing additional showings entirely? That’s a hard pass.

Think of it this way. If you were shopping for a car and heard that someone else was interested in the same model, wouldn’t that spark your desire to act quickly? The same psychology applies here. Encouraging the viewing opens the floodgates for potential buyers to feel that urgency.

Creating a Competitive Environment

By allowing the co-operating brokerage to show the property, you’re essentially creating a competitive environment. It’s like throwing a sprinkle of pepper into a recipe; it heightens the flavor and gets everyone excited. It’s not just about one offer; it’s about opening doors to multiple offers that could ultimately lead to a bidding war. And in real estate, a bidding war can spell the difference between an average sale price and an exceptional one.

To maximize the potential sale price, a proactive approach is essential. Sure, it takes a bit of finesse to navigate these waters, but isn’t that what makes real estate thrilling? Each day in this field is a new adventure, a chance to prove your expertise and grow as a professional.

Final Thoughts

In conclusion, when a co-operating brokerage comes knocking, it’s a clear call to action. Encourage those showings! Engage with potential buyers like a seasoned pro because this is where opportunities arise. Real estate isn’t just about bricks and mortar; it’s about understanding human behavior, sparking interest, and ultimately driving value for your clients. So, let those showings happen, and watch as the competitive spirit fuels your success.