Today’s question comes from Tina who asks: What’s the best offer strategy: Early offer to scare others off, or late, last-minute sniper offer?
Avryll: I LOVE the term sniper offer – that’s a new one to me! Individual agents definitely have their own ideas regarding the best offer strategies.
I think it’s always important to touch base with a listing representative to make sure you have as many details as possible about the property and/or the seller’s circumstances. Often a listing will indicate a date range for closing, although in most instances when I inquire there is actually an ideal date that is preferred by the seller.
I want my buyer clients to have the subtle advantage of being favourable on as many negotiables as possible. In aggressive markets where multiple offers are common, buyers grow frustrated and jump the queue with early offers. This “bully” offer strategy is aggressive and only occasionally successful for the buyer who initiates it, usually requiring an over-list price, unconditional offer.
A buyer with a sniper strategy who waits to reveal their interest in the last moments risks a higher probability of missing out if the sellers circumstances change.
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