Lost a deal because I gave two buyers the same 24 hour window
Ran dispo for a wholesaler on a 3/2 in a working class suburb, contract at 148k, comps supporting 215k, moderate rehab. Fee to be split was 14k, my half 7k. Best deal I'd touched.
I sent it to my list at 8am. Two strong responses by 10am. Buyer A wanted to walk it, buyer B said he'd take it sight unseen at the number if he could close in 14 days.
I told them both they had until end of day and whoever confirmed first got it. I thought I was creating urgency. What I created was a deal neither of them trusted.
Buyer B called back at 1pm and asked if he was competing with someone. I said yes. He pulled out entirely, said he doesn't bid against people he can't see and he's done it before and gotten burned. Buyer A walked the property at 4pm, came back and said the rehab was heavier than the description, and offered 138k, which killed the fee.
By the time I went back to the list on day three the wholesaler had given dispo to someone else. Deal closed a week later at roughly the original number with a buyer I didn't have.
Cost me 7k and the relationship with that wholesaler, who was my best source.
What I'd do differently. Take buyer B at 10am. He was ready, funded, and asked for nothing. I was trying to squeeze another few thousand out of a spread that was already good and I turned a 48 hour close into a three day collapse. Also, calling two buyers into competition without telling either one first is a way to lose both. If I ever run it again I'd say up front that there are multiple parties and let them decide whether they play.