Thread: should I trust SA's answer?

The SA's job is to get the best price for the seller, I wouldn't trust anything they say about other offers. They have to present yours to the seller no matter what so what do you have to loose? There may or may not be a stronger offer, but I wouldn't let it stop me from trying for my buyers.

Just think, if they get it, and the SA was lying to you, what does that make the SA Look like?

Write and submit your offer as if they never said anything. A better offer is in the eye of the beholder. The seller might like your offer better, you never know.

Originally Posted by cchamberland

The SA's job is to get the best price for the seller, I wouldn't trust anything they say about other offers. They have to present yours to the seller no matter what so what do you have to loose? There may or may not be a stronger offer, but I wouldn't let it stop me from trying for my buyers.

Just think, if they get it, and the SA was lying to you, what does that make the SA Look like?

Thanks! Actually I was concerned that if the comment from SA is true, probably I should suggest my client to add a couple of thousands to his bid, rather than risk to lose the property...

SA's job might give you ideas but better than that is to trust your own selling technique, may be you can get ideas with experienced agent.

Just go ahead and submit your clients bid don't pay to much attention
on what they say about the offer of others instead you should
somehow think of a way to beat their offers in a good way.

It's just like playing poker. You never know for sure. Some agents will bluff, some will be completely honest.

Just make a fair offer. Don't let the hype make you change the offer if it is already what you consider fair. I have done that before, and I really believe there are times I have overpaid for some of the rental properties I have purchased just because I wanted to beat out another buyer on it.

Never trust what the SA is telling you (unless of course it is me! LOL) I had an agent a month ago tell me he had two offers in hand that were much more than what my clients wanted to offer. (It was an "appointment only" and he told us that in conversation while we were in the home.) Two months later the property is still on the market and with a price reduction that is close to what my clients wanted to pay.

Seriously, the best way to approach it is to show your clients the comparables and then ask them what the home is worth to THEM. That will depend entirely on their motivation for buying. If they are investors, they will want to get something under market value. If they are buying it for themselves, there may be special factors involved like their best friends live on the next street. You just need to relay the information that there are other offers on the table and let your clients make the decision.

The advice the previous agents gave is good regarding not trusting the listing agent and simply offering what the buyers feel the home is worth to them based on comps. I have personally submitted offers with an escalator clause to cover us in case better offers came in and this tactic can work very well. Good luck to you and your buyer.

www.schumanteam.com
www.clevelandhomeexperts.com

Dan brings up a good point. Escalator clauses can be used very effectively in this type of situation as long as you are not working with a cash buyer where an appraisal would not be required. Especially in this market, you want to make sure your buyer is not overpaying for a property. Most appraisers are being very conservative, so as long as an appraisal is part of the contract, your buyer should be well protected.