I don’t know about you, but I went out and saw a number of open houses last weekend. That’s Saturday I mean. Sunday I was watching the Super Bowl along with most everybody else. Anyway, if you were out there you sure saw a whole lot of people didn’t you? It was a freaking mob scene if you ask me! Really crazy and seemingly droves of people. So I’m at this one house in San Carlos and I had to park about a block and a half away since there were so many folks there. I’ll bet there were 25 or 30 people in the house while we were there. This is a little 3 bedroom fixer upper listed for $649,000 and it’s looking at offers on Thursday. Well, this one particular guy asks the listing agent in the middle of this mob scene “Do you think it would be enough if I gave you an offer of $750,000?” “Holy Cow!” I thought. Nothing like TMI! What a poker face this guy has, huh? Maybe he’s trying to discourage competition? Here’s why I think this was a bad move for this buyer:
1) The listing agent has absolutely NO CLUE if $750,000 is a winning bid or not. His guess is as good as yours and everybody elses for that matter. Offers aren’t due until Thursday…how does he know what price is the house is going to get?
2) Why would anybody think it was a good idea to announce to an open house what price you’re offering. If I wanted it this house myself maybe I’d write $752,000 say? Thanks for the heads up guy!
3) For all you know there’s going to be 2 offers on the house. a 3% down offer of $599,000 and yours at $750,000. Maybe it’s a good idea to see how many actual offers there are before deciding on what price to launch with?
God…I love this business! The stuff I hear every week is a marvel to behold!