Innovative Real Estate Blog

This is a question that comes up quite frequently with my buyer clients.  It’s a tough question to answer.  I guess it depends on a few variables.  First, if the property just came on the market and is aggressively priced compared to the competition, and when you went to the open house it was bombarded with people.  In a situation like this I would say it’s a good possibility that there will be offers coming in.  Second, a property that has been on the market for a while all of a sudden has a drastic price reduction, I could also see the possibility of an offer coming in.  However, if the property has been sitting on the market and hasn't really moved in price I would be a bit weary, especially if the listing broker is claiming that time is of the essence and if you make an offer now they will present it to the seller before others come in.  This is where a good buyer’s agent comes into the picture.   Although it is hard to say for sure if the listing agent is being sincere or just trying to get the deal, but an experienced buyers agent should be able to weigh the variables and consult their buyers accordingly.  Not to mention, if you have been in the industry long enough you start to know who to look out for!!!