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“My people don’t want to compete”!!!

March 4 2021 at 4:10 am
By: Okeefe 3%

In a strong seller’s market like the one we have now there are many occasions (weekly) where our listed homes are getting multiple offers. This is terrific for our sellers as the auction effect kicks in and buyers jockey for writing the best offer to win the bidding competition. Now on these occasions, the seller usually does really well as we (listing agent) provide the rules & guidelines of the competition for the buyers.  In most occasions, we will even rank (price, terms, dates) what is most important for the seller so the buyers know where to put their focus when writing their offer.


Still more interesting in the process is how many buyers find their dream home and then decide they do not want to “compete”?  Essentially, they are saying, “ I do not want the best for myself and my family”. And what it appears they are really saying is, “I am going to keep looking for a home that is overpriced and less desirable (where there is no competition) so that I am not exposed to potentially losing out on my dream”.  


I am not sure I understand the psychology of this thought process.


When competing for a super desirable home that everyone else likes as well, is it not better just to submit your best offer and see if it is enough? Because on many occasions your best is the one that wins. Why not test the waters and compete for your family’s dream home?


Is that not better than deciding to “keep looking” for the home that no one else knows about or is going to compete with you to get?


In the end, those buyers, unfortunately, still end up competing with a seller to get an over-priced home in a less desirable area for less than the list price so that they can tell their friends they got a steal.  It’s just a different competition and the thoughts of the dream home still linger in many buyers minds even after their purchase of a second choice.


It can’t be overstated that in the end that buyer was still competing.


Without competition you may end up settling for less, so don’t just dip your toes …Dream Big, Jump In and don’t settle for second best. Compete for the dream for you and your family! … I have seen so many happy families choose that route and end up blessed by the experience!