How To Win A Bidding War

Written by Posted On Tuesday, 10 March 2015 05:31

Many buyers will joke and say "the best way to win a bidding war is to not engage in the first place". All joking aside, bidding wars have become reality for many Westchester County homebuyers as our market shifts more towards a sellers market. Inventory levels have been tight the past two years and this year is no exception, so far. Some homes are receiving as many as 28 offers! So how does a homebuyer make their offer standout amongst the rest? Unfortunately there isn't one single answer; it depends on your buying power and desire to compete.

There are many ways to structure an offer to make it more attractive to the seller. The dollar amount is important but not always the deciding factor; flexibility on timing can seal the deal. Some sellers don't care about anything but the price and others care more about the right person buying the home. Have your agent speak with the seller’s agent to fish for any information that can help you understanding their train of thought. Things such as, the seller’s motivation, how long they have been in the home, and their time frame. The key to a successful negotiation is having some understanding of whom you are negotiating with. The more flexible you are with contingencies and timing, the easier it will be to craft an offer that is win-win for both parties. Everybody wants to feel like they have won and walk away with terms that make them happy.

My advice to you is, know your limits and partner with an expert agent that can provide sage advice. The term "war" has such a negative connotation attached to it. I prefer to approach it with the understanding that it's only normal for many people to want the ideal home. You can only do the best you can do, find peace in that. I firmly believe that everything happens as it's meant to whether you realize it or not.

Christopher Pagli
Accredited Buyer Representative
William Raveis Legends Realty Group
Westchester County Real Estate Advisor For "Buying & Selling" With The Property Brothers On HGTV
This email address is being protected from spambots. You need JavaScript enabled to view it.

Rate this item
(0 votes)
Christopher Pagli

Welcome!  You are about to meet an agent that specializes in personalized service for first time and repeat Westchester County NY and Greater Portland Maine homebuyers and sellers.  

My background includes 20 years of developing and implementing effective marketing plans through online social media, blogging, and media contributions.  Most recently I was hired by Cineflix Media as a real estate consultant for “Buying & Selling” with the Property Brothers Seasons 3 & 4 on HGTV.

The process of buying or selling a home can be frustrating.  Our initial consultation will focus on getting to know each other, your needs, wants, and lifestyle.  As your client advocate I’ll take the time to sit with you.  We will discuss the overall real estate buying and selling process, current market conditions, absorption rate, and buyer/seller thought process, including where and how they search.  

You will have complete control of the process. As your agent I will simply offer my knowledge, expertise and comprehensive marketing tools to accomplish our goal of buying or selling your home

Buying and selling a home is a major turning point and huge investment. Please remember that you don’t have to do it alone. By engaging my real estate services, you are teaming up with an agent that truly has your best interest in mind.

You will have clear, prompt communication every step of the way – I stay open until you close.

Agent Resource

Limited time offer - 50% off - click here

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.