Quote:
Originally Posted by Realtor 1
The name and brokerage of every real estate agent involved in the bidding war is given by the list agent for the other agents to verify.
I have been involved in a few competing situations this year already. Both on the buying and selling side. You are supposed to come to the table with your best offer. The list agent typically informs the interested buyers of a time that offers will be present to his/her client. You have until this time to submit your offer.
The seller can counter however you will only want to counter one bid to avoid a situation where you counter more than one party and they both accept.
Most of the time, I suggest offering full asking price if you really want the property and we are only up against one other bid. If we are up against a few different bids, you will want to go slightly higher than the asking.
Conditions also play a significant role. A few months back, a client accepted a lower offer with only condo document review as a condition vs more money but multiple conditions.
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Thanks for the info Travis...but realtors who price lower than market to try and instigate a bidding war is still shaddy in my books.