Profile picture for yohoo7

why would buyer's agent recommend to make a lowball offer in multiple offer situation?

buyer's agent knew one other offer was already in but he still convinced us that the unit would not appraise more than he suggested, which was 20% lower than the original listing price (but aligned in price per sq feet with the unit next door that just sold + other neighbourhood units including foreclosures). in seller's opinion this unit was already agressively priced and had been on the market only 4 days. our offer didn't go through and we feel quite confused especially as we were prepared to offer more in the beginning close to listing price but this time it was the realtor who was resistant to offer higher price. weird?

  • October 14 2011 - Atlanta
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Answers (7)

If you do not think they are a bad agent as I do not know them or their sales record, perhaps they knew the other agent was bluffing.

In a multiple offer with a Bank owned you get sent a form to sign so that you understand it is truly a multiple offer scenario, was it Bank owned?


  • November 22 2011
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It is important for you, as the buyer, to understand both sides and make an informed decision about offer price. Yes the property may not appraise, but you also have the option of going in at a higher purchase price (especially in a multiple offer situation) in order to get the property under contract...then IF it doesn't appraise, you MAY have the ability to negotiate the price down with the seller. There is some risk involved with each option and I'm sure your agent was weighing the risks and looking out for your best interests long-term

  • November 22 2011
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Profile picture for SteadyState
Multiple offers are like unicorns - many talk about them but no one has seen one!
  • November 22 2011
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Profile picture for Sally English
May I make an attempt at re-phrasing your question: "Why did my buyer's agent counsel me about overpaying for a property?"
  • November 22 2011
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Let me re-phrase...it can sell but would you really want to pay more than it is worth?
  • October 14 2011
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Your agent is a smart agent, He puts your long term interest over his interest, there are many for sale properties out there, GO WITH HIM!!!!

  • October 14 2011
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Very weird.  Granted he may have been a little worried about appraisal but as an agent I always tell my people in a multiple offer situation....how bad do you want it?  That is how much it is worth, how ever much a buyer will pay for it.  Then worry about appraisal.  Maybe kind of backwards for some realtors....but it how I look at it.  It cant sell if it wont appraise.
  • October 14 2011
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