Another real estate agent question [Archive]

View Full Version : Another real estate agent question

frugalone

9-4-18, 4:09pm

OK, I gotta know: Is "other parties are interested in this property" part of the Real Estate Game?

Kind of like every time I look at a product in a store, the salesperson recommends and it says he/she has one and loves it?

ToomuchStuff

9-4-18, 4:12pm

Using math as a sales point. X number of houses for sale that Y number of people are looking for/at. Interested in, is not the same as saying, other offers have been submitted, but a selling point using math, to try to get you to submit an offer, IMHO.

Teacher Terry

9-4-18, 4:16pm

Here the market is hot and not enough houses for sale so might depend on how your local housing market is doing.

frugalone

9-4-18, 4:16pm

Yep, that's what I figured. I don't like being pressured...

frugalone

9-4-18, 4:21pm

I wouldn't say it's hot around here. There are a lot of places for sale, varying in quality.

Using math as a sales point. X number of houses for sale that Y number of people are looking for/at. Interested in, is not the same as saying, other offers have been submitted, but a selling point using math, to try to get you to submit an offer, IMHO.

SteveinMN

9-4-18, 5:04pm

If a buyer is really interested, they put down earnest money. Otherwise they're still windowshopping and I would reject that tactic as a way to goad me into action.

When I bought the house we're in now, I knew before I started touring houses that homes at its price in this neighborhood went really fast. After my walkthrough I looked at my agent and said, "This house isn't going to be here tomorrow, is it?" She shook her head no. I put an offer in that night. In a hot market, there isn't time to wait around and set up financing and such. But you should be aware if you're in a seller's market before the agent prompts you that way.

frugalone

9-4-18, 5:33pm

Thanks, folks!

JaneV2.0

9-4-18, 5:44pm

I would encourage you to follow your instincts where real estate is concerned.

Simplemind

9-4-18, 5:48pm

Here in the Portland metro area there is no way that there are not several other parties interested within the first hour of it being put up. A friend sold her house within the first hour and then lived in a 5th wheel for the next year because they could not get a house. Everything was always sold before they could even get there to see it.

frugalone

9-4-18, 5:48pm

Good advice!

Gardnr

9-4-18, 6:08pm

JaneV2.0

9-4-18, 7:05pm

Houses here are selling in hours AND with bidding wars during that time. All above asking price. It's crazy!!!!

Love it? Offer and write an earnest check on the spot. Don't love it-walk away.

I am one of those people who know right away "this is it". I've done it 3x and we only sold #1 to move to the area of the city we kept driving to. #2 and #3 are keepers for life!

I almost wrote this exact post. I knew immediately when I bought my first place, after looking at maybe twenty others. I went to an open house (during a Trailblazer playoff game--so you knew it was a big deal), and barely did a walk-through before I signed an earnest agreement, and the check. I still think fondly of it; it was laid out perfectly. Unfortunately, that wasn't the case with this place, which I foolishly talked myself into. Learned my lesson.