Question: Can A Realtor Tell You About Other Offers?

Can you offer 10 below asking price?

The rule of thumb we use with our buyers is usually based on the number of days that a home has been on the market at a given listing price.

If it has been on the market at the same price for two months or longer, we recommend being more aggressive and offering 8 to 10% below asking..

How do you win a bidding war on a house?

Tips for Winning a Bidding War on a House You Really WantUp your offer. Money talks. … Be ready to show your pre-approval. Sellers are looking for strong buyers who are going to see a contract through to the end. … Increase the amount you’re willing to put down. … Waive your contingencies. … Pay in cash. … Include an escalation clause. … Have your inspector on speed dial. … Get personal.

Can the seller take another offer when the home is under contract?

This is quite a common question when it comes to buyers. … But, once an offer has been signed off by the seller, the property is under a legally binding contract with buyer and seller and the owner cannot accept any other offers, even if they are higher.

Do estate agents talk to each other?

Yes, real estate agents talk to each other, and they do so to : Facilitate the sales in which they are involved. Build a professional network which, in turn, helps them better serve their clients. Learn about the properties, the neighborhoods, and issues that might affect their clients.

Do estate agents send fake viewers?

19. They employ fake buyers. It may seem ludicrous, but professional viewers are actually known to be hired by agents to convince you that they will bring in an immediate influx of potential buyers should you list with them. Needless to say, once the contract is signed, these viewings start to slow down.

Do estate agents undervalue houses?

Nothing personal, but many real estate agents will want to sell your property as quickly as possible and pocket the commission. … An agent may undervalue your property so it sells fast.

Do sellers always pick the highest offer?

When it comes to buying a house, the highest offer always gets the house — right? Surprise! The answer is often “no.” Conventional wisdom might suggest that during negotiations, especially in a multiple-offer situation, the buyer who throws the most money at the seller will snag the house.

Do Sellers usually accept first offer?

Real estate agents often suggest that sellers either accept the first offer or at least give it serious consideration. Real estate agents around the world generally go by the same mantra when discussing the first offer that a seller receives on their home: “The first offer is always your best offer.”

Do estate agents lie about other offers?

When an estate agent markets a home they’re legally obliged to treat both buyers and sellers fairly by following the Code of Practice for Residential Estate Agents. This means they should not lie about offers to any party involved.

How do I convince a seller to accept my offer?

11 Ways To Get Your Offer Accepted In A Seller’s MarketYou’re finally ready to take the plunge and put in an offer on your dream house. … Make Your Offer As Clean As Possible. … Avoid Asking For Personal Property. … Write A Personal Letter To The Seller. … Offer Above-Asking. … Put Down A Stronger Earnest Money Deposit (EMD) … Waive The Appraisal Contingency.More items…•

Can buyers and sellers talk to each other?

As a general rule it certainly is not a good idea for a buyer and seller to talk directly with each other during negotiations. … Good communications between the buyer and seller are important, and that also means that both Realtors need to be good communicators, too.

Can estate agents tell you other offers?

Estate Agents can’t legally tell you how much the other offers were for, but they will usually indicate if they were close to the asking price, which can help to inform your own decision.”

Can selling agents lie about other offers?

As everyone else has said, yes they can lie about other offers but if you have an escalation clause that is being used, they need to present the other offer if requested. … One of the problems with agents is they lie so much its essentially impossible to assume they are telling the truth … or to assume they are lying.

What should you not tell a Realtor when selling?

Among the things home sellers should not say, the lowest price you are willing to take is probably a no-no. “The primary thing I tell people not to discuss is the minimum price they will accept,” notes Babbitt. “When you tell your agent your lowest price, they are going to shoot for that price in the contract.