Why the First Offer Often Wins in Sacramento Real Estate
As a big listing agent in Sacramento, I know first-hand it is common that the first offer often wins in Sacramento real estate. But buyer’s agents tend to disagree. Not sure why except that they are vested in having their buyers win, and perhaps they are not thinking through the entire situation. You hear it in their voices when they say, “Oh, maybe we’ll wait until after the open house.”
For what? For more buyers to submit offers? To become a speck of dust in the pile of offers? What are they waiting for? Offers, no offers, makes no difference.
Not only that, but sometimes agents sabotage their efforts from the get-go. A buyer’s agent called another listing agent recently to disclose that his client was part of a profession known for causing problems. Followed it up by asking about the cracks in the exterior stucco (all stucco has cracks), and making other comments that made the agent feel like this guy was gonna be a PITA. Not a smart move, you know, telling the listing agent you are a PITA and your client is a potential PITA, too.
If agents would just think through what happens, it would be easier for them to properly advise their clients. Be the first offer. The first offer often wins.
Say a home goes on the market on Friday with an open house scheduled for Sunday. Buyer tours on Friday and loves the house. But the buyer’s agent wants to wait to write an offer. I say no, write the offer right now. Write that offer although it is already Sunday afternoon and there are 2 other offers, because that could very well happen. Submit it now.
As a top listing agent, I am likely to advise my seller to wait until Sunday before making a decision. Because that is in my seller’s best interest. But the seller might love the offer and not want to wait. There is always that possibility. Odder things have happened.
However, if the seller takes my advice and waits, what do you think the seller will think when she wakes up on Saturday morning? She will second-guess her decision, wonder if she made the wrong call. Further, she will spend most of the day and the following day thinking about this wonderful and patient buyer, probably feeling a bit uneasy that she is making the buyer wait.
Come Sunday, even though there are several other offers, which buyer does the seller feel closest to?
Bingo. The first offer. Because the first offer often wins.