Can we trust what Realtors say about other offers?
Buyers always question the Realtors. I’ve seen it a million times. The home sits on the market for months, no offers. Then, out of the blue, there is one, then another. I say that you have to trust the listing agent and take their word for it. If there is no other offer, it puts them in a very tough spot. But don’t forget, the seller isn’t obligated accept or even counter your low offer. Often, when a listing agent knows an offer is coming in, he or she will call every other interested party. Though it may seem annoying, the listing agent works in the best interests of the seller. No seller is going to give his or her home away. Often, it’s the seller who suggests calling all the other buyers because now he or she is ready to sell and want to maximize the sale price. If the home lists at $500K months ago, and everyone seems to think it is really worth closer to $450K, just because there isn’t any action on it, doesn’t mean that you can get it for $435K. The market always has a way of figuring itself out. That $450K number may even get bumped to $460K in the presence of other buyers. As frustrating as it is, that’s what ends up happening most of the time.