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The trend of multiple offers in the United States real estate sector

Posted by KHADI on August 26, 2019
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As in any sector, the United States continues to be a pioneer and in real estate it was not going to be less since everything that happens there marks a trend in the rest of the world. According to the great connoisseurs of the North American market and and with a broad vision of the situation they point to a concept called multiple offers.

In the United States, apparently, in the market there is a demand that exceeds supply quite a bit in terms of housing and when such situations occur, the seller has the power.

What happens? The concept of multiple offers comes into play here. Is that the seller instead of selling his property with a high price, and be aware of any counter offer, in this case what it is about is to put a very attractive price that will allow you to get several offers and choose between those offers the ones that are most interesting

The seller can be seen even in the situation of having to negotiate the final price from these offers, and the buyer who offers the highest price is the one that keeps the property. Eye that practice has nothing to do with an auction.

Apparently the practice of multiple offers is so successful that the final sale price reaches 20% above the requested price.

This type of multi-offer campaigns causes commercials to develop a sales strategy with phrases such as “the sellers who work with me are selling for 20% more than they asked for” as Fotocasa collects in an article where they interview Fernando García Erviti Director of the Council of Realtors Specialist (CRS)

Buyers in this type of campaigns do not benefit at all since sellers have their own real estate agent and the buyer does not, which experts say creates a market with little transparency.

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