New Technique That Buyers Are Using
I just heard of this technique today after a joint conference with area agents about what is working for their clients in this market.
Buyers are making one low offer on multiple properties; one at a time of course.
Buyers are searching the real estate market and putting together a list of 5-10 houses that they would be happy buying. They rank these houses in order from their favorite to their least favorite. The buyers then place a value on each house at which they feel they are getting an amazing deal.
Once the buyer has put a number on each of the houses, they are making offers starting at the top of their list. The buyers are not willing to negotiate and they want to present the offer as a first and final offer. They tell their plan to the listing agent so that the sellers know that if they reject the offer that they will be moving on to try the same tactic on another property.
This is actually working for many buyers. In multiple cases, agents in the office had had this technique work for their clients. Buying tactics are adapting to the market conditions and with so many distressed properties on the market and so few buyers, the buyers have the upper hand when it comes to negotiating.