Bidding wars…. starting to sound outdated. Hmm what do you think?

I have never been a fan of bidding wars, I do not believe there is enough transparency with them for neither buyer nor seller.

Over ask offers seem sexy but not when the listing price is slightly lower than what the market calls for, right ?

Multiple offers are always possible … bidding wars and calling highest and best is for the novice real estate buyer. Emptor caveat, how do you know you are not bidding against yourself? So what, the open house was packed, big deal what does that mean for you?

Is buying Real Estate an impulse purchase? I hope not, definitely not. It is not a pack of gum or a great pair of shoes it is by far one of the most expensive purchases of your life! For the MAJORITY of buyers the largest debt for the longest period of time that you will ever have at any one time. Most buyers finance!

Spend wisely and work with a buyer specialist one that is honest, transparent and ethical WE do exist.

Getting back to bidding wars, sounds sexy but it is not 100% transparent or ethical. In all the years I have been selling Real Estate despite the high attendance at an open house it is not common to get multiple offers at the same exact number and strength… the odds just play out against that. Close offers maybe, let’s even go as far as offers at same exact full ask price that is also possible… but the strength isn’t usually the same it is less common than is portrayed.

Advice – when making an offer on a property where you feel will go quickly and ya just have to have it make your offer strong and high from the jump. And yet YOU might still get played….but it reduces the risk. And do not forget emptor caveat is in full effect at all times.

For the seller there are also pitfalls, setting an arbitrary date/ time to close up offers keeps people away, it also sends out a false sense of urgency, when in fact the brokers fiduciary obligation is to continue to show and collect offers until contracts are signed… so what happens if an offer comes in after the date/ time are set and posted ? So glad you asked.

No one really knows, it is in the hands of the Broker and how they respond to it, that is exactly where I feel it is a disservice to the public and the seller, let’s face it there are sooooo many unethical sales agents running around which is why we are regarded as bottom feeders in this muddy, smokey mirrored business.

All properties need buyers, buyers have more control over the market at all times than they are aware of, work with ethical and transparent people and firms we do exist, ask important questions . If you plan to align yourself with a buyers broker make sure they think like you and operate like you because the final decision is clearly yours.

The buyer is the one that controls the market. See what happens if you all stop buying lol.

Bidding wars sounding OLD … like the word busy … old and tired, washed up. WE as people are moving in a different direction. Clarity, honesty, transparency and ethics are not to be messed with. Get with the program and align with like minded people. At Tyler Vincent Real Estate we only operate under these conditions. We do not jeopardize our word and ethics for anyone or any deal. We would simply much rather walk away.

Why would you throw yourself in a pool of mud.?

Tyler Vincent Real Estate Inc. Clear, Concise, Communication delivered in a transparent shell with the highest of ethical standards, as the Broker I would not be happy any other way. We look forward to hearing from you.

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