I had dinner this evening with a Realtor friend. She described the hectic pace to her weekend whereby she fielded four offers on one of her listings. As any agent who is among the best of the best would do, she asked each party to present their highest and best terms. They did, and consequently the sellers chose the offer that was most appealing to them.
On Second Thought
As is often the case in multiple offer situations, especially when there are as many as four, one of the potential buyers had “second thoughts” once they learned that they were going to lose the property. They decided that they wanted to submit another offer, this time above the asking price. By then the seller had already signed off on the offer that they initially commited to, however, and it was too late.
Counterproductive Approach
As a listing agent, I would often receive calls from a Realtor whose buyer was interested in one of my listings. “My buyer has asked that you call me if there is any serious interest in the property,” the agent would anxiously explain. “Why would they want to wait until there’s another offer,” I wondered, “so that they could actually get into a bidding war and pay more?”
When Does It Begin?
I have two boys who are two and a half years apart in age. I can recall, beginning when they were very young, how a particular toy was never as appealing as when the other wanted to play with it too. Why is it that a man seems so much more attractive when he is with a member of the opposite sex as opposed to when he is by himself?
An Instinctual Component
I suppose there is no sense in figting it. It’s human nature, it’s in our DNA and there’s just nothing we can do about it. It’s almost as if we need someone else’s opinion to justify the value of something in our minds. There’s an instinctual component involved, and to deny it would be to deny the child within.
What are some of the things that you wanted more when you found out that someone else wanted them too?
Was it too late or did you find out that it wasn’t worth it after all?
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