Pros & Cons of Disclosing Multiple Offers on Your Home

by Roni Agress 02/27/2022

When selling a home, it’s not uncommon to get offers from multiple buyers. This is especially true in a hot market with low inventory. If you’re dealing with multiple offers, the question can arise about disclosing those offers. If you’re unclear about how and why to factor this into your negotiations, here is some basic info to help.

Why Disclose Multiple Offers?

There are two benefits to disclosing offers to other buyers:

It can encourage one buyer to increase their offer. Informing a buyer that there is another offer in play might result in a larger offer from another buyer.
Sometimes, counter offers include more than a price increase. A buyer might offer better terms to sweeten the deal, like waiving appraisal or inspection fees. This is where seller contingencies come into play. It’s also common for an updated offer to be a larger deposit, quicker closing or even covering the closing costs.

Why Not Disclose Multiple Offers?

While there are definite upsides to disclosing multiple offers, there can also be drawbacks:

Some buyers might be intimidated and walk away from the sale. Knowing that there are other, more competitive offers on the table could discourage them from pursuing the property.
Dealing with multiple offer disclosures can get confusing. The communication involved might get tricky and even stressful. Keeping track of which offers are available might turn into more of a hassle than you want in your selling process.
Disclosing offers can make the sale take a lot longer. Most home closings take a month or two, but if you’re dealing with multiple offers and counteroffers, disclosure could drag out the process. Each round of offers and counteroffers adds days to your total timeline, which can be especially inconvenient if you have a new purchase contingent on your current home sale closing.

Overall, consulting with a real estate professional will help you decide whether disclosing multiple offers is the right move. Weigh the options carefully to determine what will get you the best results.

About the Author

Roni Agress

Roni Agress brings to William Pitt Sotheby’s International Realty an accomplished and diverse history spanning three decades in entertainment management. Her experience, representing and assisting international performing artists and the administration of their production companies led to the establishment of her own firm in 1995. A passion for excellence, a strong work ethic and a commitment to getting the job done and an ability to anticipate, meet and manage is the foundation upon which Roni has built her career as a full-time realtor. As a resident of Redding, Connecticut since 1989, she possesses a detailed knowledge of the local markets, trends and values. Enthusiasm, vitality, resourcefulness and a can-do spirit accompany every transaction. Roni specializes in residential sales and relocation. She is an award-winning Realtor, an Accredited Buyer Representative and is Relocation Certified. • 2001 to Present – Sales Associate Ridgefield-Redding Brokerage • Gold Star, Silver Star, and Bronze Star Performance Awards – William Pitt Sotheby’s International Realty • #14 Company-wide in Units and #2 in Units in the Ridgefield Brokerage in 2013 • CT Magazine Five Star Performance Awards • 2011-2014 serving as a Director/Officer to the Ridgefield Board of Realtors