Graciously raising the asking price on rental unit already listed

[Joe Leeds]

How do I graciously raise the asking price on a rental unit I already listed? It's been 24 hours and I've had over 50 inquiries. I've interviewed four prospects and two were really good. But based on comments on the listing, such as "bless this landlord, what a steal," I think I really underpriced myself. Is there any way I can I go back and raise the price now without it being a total ******* move? The two good prospects, where we left it was, I would get back to them with a suggested day to show it to them. Thank you in advance for your suggestions.

[Doug Smith]

We send a message to everyone saying "We have multiple offers and are taking "Highest and Best" at certain date and time. I don't think there's anything you have to do other than to say, wow...we're getting a huge response on this. If the highest and best thing doesn't work to get you what you want out of it, then I would counter the best offer. If that doesn't work, then reject all and raise the price with the knowledge that everyone might go away and the property might sit. It can be a gamble at that point, but if you've got that many inquiries, you'll likely get a good deal from someone that really wants it. That's how are investment arm handles it.