Listing agents are not fibbing when they say they have multiple offers in hand. They’re not trying to trick you. They are following the lawful instructions of their client. What another person and their agent do with that information is up to them—doubt at your own risk.
Even in a pandemic, homes are attracting multiple offers. Three to five offers are common. The most I recall from this year is twenty. Even with nineteen offers already in, our client did not compete with even one of the bunch. And I say that for two reasons.
First, competing is a mindset; it’s not a real thing. Choices are real, and by making decisions based on the information and knowledge of their intent, our clients submit offers that aren’t trying to beat anyone; the offers they write are the offers others have to overcome.
The prepared buyer client we represent believes they can show their commitment to owning by what is or isn’t in their Offer. An owner who values a committed buyer who gives them terms that allow them security and a satisfactory net is likely to commit to that buyer. And I know this because it happens most of the time.
The second reason our clients are not competing with others is that 9 out of 10 offers an owner receives will not be written clean enough for the owner to accept. Either the Offer will have flaws or deficiencies, or unnecessary contingencies. The Offer that a seller can take without a counteroffer and leaves them in a secure position knowing the buyer is as committed to getting to closing as they usually stand alone when compared to all of the Offers on the table.
Did our client’s Offer stand out from the other 19 in the case I mentioned above? Yes, it did. This family wrote one Offer on one house and now own that home. They trusted us. They didn’t compete. And, their Offer was not for the most money.