“Shopping the price” to get buyers to raise their offer
In a multiple offer situation, I always prepare a matrix comparing the price, terms and conditions of each offer. After presenting to the sellers, the question is always,
“Do you want to do multiple counter offers?”
Counteroffer is generally done in writing, but there are situations when verbal conversations can accomplish in minutes what may take days and multiple counter offers to accomplish.
Listing agents can call the buyer’s agents and ask
“Is this your best and highest offer? If not, would you like to revise your offer?”
If the buyers agents want to know what they’re competing with, can the listing agent say what the highest price is?
IF the seller authorizes, grants permission or directs agent to disclose the highest price then yes, the agent can disclose.
Without disclosing whose offer is the highest, the agent can say
“That the highest price we have so far is around $XXX.....what we’re looking for is the best and highest and cleanest offer.”
Yes, buyers agents may perceive that as “shopping the price”. But remember that the listing agent works for the seller and is looking for the best deal for his client.
Buyers agent can relay the information to the buyer who makes the decision whether to pursue or to fold.