If You Like It Then Just Buy It!
A friend of mine is a Sales Director on a cruise ship travelling around the Caribbean (tough life). This role involves her telling guests all about the goodies they can buy along the way. Her catch phrase is ‘If you like it – then just buy it!’ (said with a sing song American drawl).
When it comes to real estate, obliviously we feel exactly the same way! If you love a property the only way to stay in the game, and have a chance of winning it, is to make an offer. Although we contact every buyer who goes through an open, only the buyers that show their hand and interest are updated. To get a seat at the table you need to make an offer.
The thing is though we play an open game. This means everyone (who has made an offer) is kept up to date on offers and given the opportunity to counter bid. From our perspective this is a better way to keep the process open and transparent so that everyone gets a fair chance.
Another friend in Hornsby just missed out on a property by $3000 and is devastated that she didn’t get a chance to increase her offer. It’s a Catch-22 because buyers will often not want their offers disclosed, but will definitely want to know what others have offered – and we can’t have it both ways.
At the end of the day I think Gloria Steinem puts it best “the truth will set you free, but first it will piss you off.” No one wants to get into a bidding war, but no one wants to miss out on a property they really love.
Our best advice is to make an offer early and don’t wait, or encourage competition – basically ‘if you like it, then just buy it’.
by Tanya Demello on 11 December 2014
Filed under Places