Multiple offers: It happens more than you think. I can have a listing sit for 3 months with nothing.. then boom. One offer, two offers three offers in one weekend. ( probably as a result of my great advertising)
You think I want 3 offers? (Of course I do) But No! It is a pain in the butt! All three of those people sound just like you and I have to deal with all the whining. And no. You cannot see the other offers. It is between the seller and listing agent.
What you should do is be focused on the house and what you would pay for it. Make your best offer and be satisfied that you made your best offer if you lose it and walk away. Hopefully your agent is good and can give you the recent comps and analyze the market and help you come up with an intelligent offer.
I think your research is baloney. I can’t find anything out there that reads anything about listing agents using this imagined â€œtacticâ€ it would be stupid. How so John?
Do the math. If a house is sold at 400k @ 5% that is $20,000. commission overall At 405k = $20,250. At 410k=$20,500. After the agency split of 50% ( example) the agent stands to make a maximum of $250 by increasing the offer up 10k.
Really? You think an agent is going to risk a sale and possibly losing their license for $250?
Now, be realistic and make a realistic offer on a house that will be accepted.