Double the fun with multiple offers

Multiple offers on homes for sale, an anecdotal sign on the health of the real estate market, mostly evaporated when the economy tanked.

But Michael Saunders, founder of one of the Gulf Coast's largest real estate firms, had a real dejà vu moment at a recent staff meeting. Saunders, who launched her firm in Sarasota in 1976, asked the room of 150 sales associates if anyone had handled multiple offers on new deals.

More than 50 people in the room raised their hands, says Saunders, who spoke about the meeting at a presentation before the Siesta Key Chamber of Commerce. “We haven't had multiple offers since 2004 and 2005,” says Saunders. “This is because houses are being priced properly.”

The latter point, prices, is something Saunders has pushed for several years, to get sellers to be realistic. Indeed, Saunders has been one of the leading voices on that issue in local real estate.

On Michael Saunders & Co., Saunders says the firm's strategy to go for market share as opposed to merely larger individual sales has begun to pay off. To wit, gross commissions were up 20% in 2010 over 2009, according to figures provided to the Business Review.