Why are Buyer's Agents Creating a False Economy with Unrealistic Offers?

Rethink Real Estate

In this episode of Rethink Real Estate, host Ben Brady delves into a troubling trend affecting today's housing market: buyer's agents submitting overinflated offers laden with contingencies. Ben discusses the tactics where agents encourage clients to bid significantly above asking price, only to attach a string of contingencies that delay the closing process and, in most cases, derail the sale entirely and fall out of escrow at a later date. This practice not only frustrates sellers but also skews their expectations about the value of their home, leading to prolonged days on the market and, ultimately, a lower final sale price. Ben shares a firsthand account of a transaction where sellers were enticed by an unrealistic high offer, overlooked a solid before auction offer, and ended up losing $10,000 on their home sale due to these Buyer Agent tactics. 🎯 Key Episode Highlights: Exploration of the current trend of overbidding with heavy contingencies. How inflated offers with no intent to close impact seller expectations and market dynamics. Real-life example of how this practice cost sellers $10,000. Strategies for sellers and their agents to identify and manage such offers effectively. 👉 Must-Watch for Sellers and Real Estate Professionals: This episode is crucial for anyone involved in selling a home, providing insights into navigating offers and protecting against market manipulation. Be sure to like, subscribe, and share your experiences or advice on handling overbidding in the comments section below! 👈 🎥 For more episodes on navigating the complexities of today's real estate market, check out the Rethink Real Estate playlist: https://www.youtube.com/playlist?list=PLynsSXgbRaMs-snZG6CHzX1Mxiyy9toMx 🔗 Connect with Ben Brady and Harcourts Auctions: ⁠Facebook: https://www.facebook.com/Benbradyharcourts⁠ ⁠LinkedIn: https://www.linkedin.com/in/ben-brady-0b223517⁠ ⁠Instagram: https://www.instagram.com/harcourtsauctions⁠ ⁠Facebook: https://www.facebook.com/HarcourtsAuctions⁠ 🌐 For more information on Harcourts Auctions our non-distressed auction platform feel free to visit https://www.harcourtsauctions.com