Special offer

How many offers can we make?

By
Real Estate Agent with Atlanta Communities 303302

We have a pretty exciting seller's market in the Atlanta area. It's exciting for the sellers...not so much for the buyers. In certain price ranges homes languish on the market for days. Not weeks, days. Desirable homes at the right price are selling for more than list within days of hitting the market.

With this in mind, the poor buyers are being stressed to the max. They will see a home today they like, write an offer this afternoon, and be in a multiple offer situation by this evening. To combat this, I am seeing buyers now placing offers on multiple homes. They make offers on several homes at once and hope they get one. If more than one responds back they can pick and choose, and terminate any others within their due diligence time frame.

Is this a good method to combat this market? Well, I don't much like it because as an agent I have to keep up with multiple offers. Also, we keep looking while these offers are in just in case we don't get any of the homes we make offers on. And its not like we are low-balling these offers. They are coming in at list or better, and still not working.

Until the market corrects itself and becomes more balanced, I believe the multi-offer strategy will have a part to play in combating the short inventory situation we have in this area.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments(6)

Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

I think my advice to them would be put in your best and highest offer with the least amount of contingencies.  But what do I know, I sell furniture.

May 27, 2015 11:26 PM
Muhammad Mushtaq
Weichert, Realtors® - SBA Group - Fall River, MA
Broker/Realtor

Peter, this is an ongoing situation in many markets. We are feeling the same dilemma as market is appreciating. Many buyers and agents are frustrated as they don't get the deal. I guide my agents to focus more on getting listings. This can bring some balance in their business. For the buyers, we are on the uphill ride again until another bubble burst.

May 27, 2015 11:28 PM
Muhammad Mushtaq
Weichert, Realtors® - SBA Group - Fall River, MA
Broker/Realtor

Roger D. Mucci - Wow you should be in the Real Estate Sale. You would be a good producer :)

May 27, 2015 11:31 PM
Barbara Bartell-Kamp
Keller Williams NY Realty - White Plains, NY
Westchester County NY Rentals, Condos, Coops, Home

Same here in Westchester County, NY.  Homes have offers within 24 hours of listing if priced right and in good condition/location. We have to keep hotsheets for our buyers and notify them as soon as on market. They run that night! I didn't sell it, but someone I am friends with just sold her house in 2 days for $95,000 over asking because they lost one at $80,000 over asking in that neighborhood! Even if doesn't appraise he's will to pay extra to get it.

May 27, 2015 11:32 PM
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

There is really only one price range that is that competitive right now in Gilbert and that's the under 200k first time home buyer range. Other than that it's pretty balanced here. I've been in those situations in years past where clients have to put in offers on multiple properties just to get one. It's a lot of work but that's what we're getting paid to do. Work for our clients. 

May 28, 2015 02:05 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

We are seeing that out here as well.  Agents have decided that they will only review offers on a Tuesday in between cocktails over happy hour.  Due to the total lack of urgency on their part, buyers are left hanging for days.  I don't balme buyers for throwing stuff out there, but like you said, it makes it hard on the buyers agent.

May 28, 2015 03:16 AM