Well, It Meant the Last 6 Times that My Buyers (Who I Represented) Were in Competition (Meaning They Weren'T the Only Offer), My Buyers Won All Six Times!
How do I do this? Well, I'm willing to share the answer with you without revealing my secret. I'm good, I am aggressive and I know what to do. Just because my buyers won, it doesn't always mean that they wrote an obscene amount over the asking price.
I have been on the other side of the competition. I've had listings that have received 2, 3 even 7 offers on it. So think about this it gets overwhelming for both the seller and the listing agent when loads of offers come streaming in. I've been around long enough that I know what wins over the sellers and catches the eye of a listing agent.
When I sit down with a buyer and we determine the purchase price I always make sure that my buyers understand what a "List Price" really is are you ready for the answer?
A list price is an educated guess, determined by the seller and their real estate agent, that is created to entice a buyer to offer a bid on the home. There is not one set formula of what to list a home at, nor is there a set formula of what to offer on a home.
I have a minor in General Business, which means I took a ton of Economics classes in college. Now that I am fully submerged in the North Shore Real Estate Market I am utilizing so much of what I learned to educate my clients, and translate how to view the market and more importantly each listing price.
Sometimes, it's wise for my buyers to write over asking other times it is not necessary. Buyers look to me to help them navigate through whatever market we find ourselves in.
So if you want to win I suggest you find a hard core agent who gets it!