Having the sale of your house dependent on the sale of another house is known as a domino effect, and this can sometimes go seven or eight houses deep. Each house is dependent on another one selling. If something happens anywhere along the line, your deal is dead. One way to get out of the domino business is to sign a 72-hour contingency that allows you to keep your house on the market. This contingency gives you two opportunities to sell the house. You can sell the house to the first buyer, or if another buyer comes along, you can sign an agreement with the second buyer contingent upon the first deal not going through. You then give the first buyer notice that he can lift his 72-hour contingency or you will act on the second offer at the 73rd hour. Top-producer agents are well trained in this method, and you should be, too.

Keep in mind that each offer stands on its own terms. The first buyer is under no obligation to match a higher offer. Price has nothing to do with the contingency.