There is not a playbook on how to win multiple offers in real estate, but using the golden rule is always a good move for the long game.
As a real estate agent, most people would think that multiple offers on a house is something that we as listing agents want, and for me personally, that cannot be further from the truth. Yes, we want to be the hero for our clients, and yes getting at or above the asking price for our listing helps us brag about our skillsets… but let’s face it… is it really a skill or are multiple offers in real estate just a function of the market?
Do I have a multiple offer strategy? Well, yes. Today, it is important to have the ability to advise customers buying a house what happens if there is a bidding war. And the first thing I tell them is that there are no rules, just common courtesies. Most agents have that part down, but much of it is beyond our control… at least that’s what agents are trained to do and say when in real estate school… however, as a listing agent myself, 99.9995 % of the time anything happens in the process, the client looks at me and says… “what do you think I should do?” Or “what would you do?”
So the listing agent does have a great deal of control in when there are multiple offers on a house and this is where the rubber hits the road. The listing agent will choose to do business one way, or the other. Many choose to play the short game, and some go for a long term play.
And what do I mean by short game?
The agents that corral as many buyers into the home and pit agents against one another are playing the short game. Those that choose to remember that there are actual people making a life plan choose to play the long game.
The long game, has long term benefits. Things that last.
Give the video a watch and let me know if you think I am on par with my thinking here, or if I am on an island, all by myself… thinking crazy, unrealistic and romantic thoughts about how the real estate industry should work in a time of extreme markets.