Fake Multiple Bidders?

**PPP** · 02-22-2008, 05:53 AM

Unfortunately it's the kind of thing that gives agent's a bad name because there are always those out there who will put in fake bids to try and pressure someone into a sale.

I've only ever ended up in multiple bid situations when there are more agencies selling the same house, sometimes we've both got offers on the same day. I think it has to be up to client at the end of the day - how much will they pay and do they feel comfortable with it. If it's worth enough to them to go higher then great. If not, another house will (hopefully) be just around the corner for them.

**bwiley** · 03-01-2008, 01:47 PM

The bottom line is that when you buy a house you need to set the top price that you are willing to pay prior to making your offer. If you do this then you don't have to worry about fake multiple bidders because you won't go over your top price. houselistedfree.com

Originally Posted by coreground

Do Sellers / Real Estate agents insinuate multiple bidders to get you raise your bid?

I've made three offers this summer and each time they've said there were other bidders.

The 1st one is still on the market today.. They accepted my then increased bid, but fell apart after inspection. The second appears to have actually been sold. The 3rd is saying there are "multiple offers and to submit the best and final by 4:30 today or asap" ... aka 24hrs after notice...

I have a friend who has a dozen or so rent houses and he swears that 9/10 its a ploy by the sellers. Comments ?

**mercedes19** · 03-02-2008, 04:46 PM

I think bidding is just part of the business of selling , especially when it comes to high priced property.

I myself have used online auction sources in addition to my Real Estate Agent and have found it to be a great source as it allows me to bid for a property that is local at a price I am willing to pay.

Because of the positive experience I've had , I've started my own site for buyers to go online to one location and look up property by type or location and even provides a forum to share information and experiences.

Love,Kim

**Fresno Office Rentals** · 10-24-2008, 04:37 PM

I think the real term that should be use is called Shill Bidding which is illegal
I guess people still get away with breaking the law, by rigging the oout come.
Thanks J.P.

**markbrian** · 10-25-2008, 07:05 AM

I have seen multiple bids many times but it does not suddenly change the property! If it is only worth $50K, why would I advise my clients to pay more? I would not want my clients to even pay $50K. There will always be other properties, I would rather lose that property to someone willing to overpay or be manipulated than have it happen to my clients.

My clients come first, and if I am representing the buyers that means getting the lowest price/best deal. Letting them be manipulated into overpaying is not the right thing to do. But I really hate when the shoe was on the other foot and I am the listing agent. I do not want anyone to think I am doing something dirty. But since I keep the offers on my listings, If someone thought I was doing something wrong I could show I was not. Still my ethics and reputation is important to me, and perception of how you handle multiple offers is a tricky situation.

BUT contingencies also factor in with how "good" an offer is, it isn't just price.