Question about contingency MLS listings

[Dee Bowers]

I have a house for sale and have received a contingency offer. I dont think the contingent house is going to sell soon and it's not a great deal for me so I am in no rush to sign the offer. I have had a lot of showings of the home. My question is as agents when you see contingency offers in the MLS so you not bother showing them to your clients? If you have a client that has seen the house but can't make up their mind do you push them harder when you see it has a contingency offer. Just wondering what I should do.

[Mike Cumbie]

Hi @Dee Bowers,

Not sure exactly how your contracts there are, but ours allow us to "Bump" a contingent offer. We are also allowed to put it in a "Under contract continue to show" status in the MLS, which lets other agents know you are dealing with a contingent sale. I recommend my client takes the contingent deal and then I shop the daylights out of it. It is a race. They have to get an offer on theirs and have all inspections etc done before I find a better offer. If we win we have a ready to go offer and send them packing. If they win we are ready to go. So I generally like them too because they can't lowball and they know it. I mean they can but then it is a joke so they often times come in high if your willing to wait. If you do bump they have to ditch their contingency and buy regardless if they sell or not or lose it so win/win for your clients.

In the right market if you are the buyer there are ways to use it to your advantage as well. Put it in contingent offer and then show you don't need to sell before they get another offer. Then you preserve the contingency and they can't bump you. It can get interesting if you understand it and you can really protect your client.

Good Luck!