Sellers love them, buyers loathe them. I enjoy them because no matter the side I am on, it's a great opportunity to show my client why they have an advantage with me in their corner.

For those new to this, a multiple offer situation occurs when more than 1 buyer submits an offer on the same home at the same time. There can be 2 offers on a home, and I've seen as many as 53. 

Believe it or not, it can be stressful for both the buyers and the seller. The buyer stress is pretty obvious, but why the stress for the seller? Imagine the joy of hearing there are 20 offers that came in, and then getting to decide how each of the 20 offers is different and which one is best Oh yeah, and a few of them are on tight deadlines for acceptance. Some are cash, the highest ones are with lenders but the lenders haven't provided preapproval letters yet. Maybe cash isn't the highest but it has the best chance of closing. Maybe one is contingent on something but they don't want any of the new stainless steel appliances you just bought. It is stressful for the seller. Good Realtors will reduce the stress on either side.

In a few different posts on this blog I'll address this from the buyer and seller perspective, but I can tell you right now that I'm not giving away all of the secrets because the right information is priceless. It's not in a book, it comes from experience.