Three Offers On Three Homes In Three Days - The Buyer's Point Of View

Three Offers On Three Homes In Three Days - The Buyer's Point Of View

Now The Shoe Is On The Other Foot As We Help Three Buyers Get Homes

Experience As Buyer Agents Can Come Across As Tough Love

"We love the house.  It's perfect inside and the price seems good.  How LOW should we go with our offer?"

"I called the listing agent and he has two offers in hand, one at full price and a second over the list price with an escalation clause."

"THUD", buyer's jaws hit the floor.

"You cannot be serious.  It's a buyers market... the TV news says so."

"Well it may be a buyers market SOMEWHERE, but here in Virginia its a sellers market, so you need to decide how high you will go."

Buyer sneers, "That other agent is just bluffing.  He has to be bluffing.  How can any home get two offers IN THIS MARKET".  (I guess they didn't hear me say it's a sellers market here.)  

"We're not going to play this agent's game.  We'll wait him out for a week or two, then come back when he's more desperate." (They don't believe there are two other offers.)

Fast forward two weeks.  Buyers call and ask, "Erick, do you think it's time to flop an offer on that house?  How low do you think they'll go?"

"The house sold two weeks ago when we were talking about it.  They had three offers and they sold the house ABOVE list price."

(Long silence)

"So we can't make an offer on that house?"

"No.  And as a matter of fact, one of the losing bidders came one street over and got one of our listings in a three way bidding war.  The great buyers market of 2009 is officially over."

If you need guidance selling or buying a home, drop me an email or give me a call.  You can check us out on our website.  Erick@ErickAndCompany.com.  703-677-1120.