They can say:
a. we have written activity
b. we may be receiving another offer, but nothing in writing yet
False representation of offers on a property, in our state, would get the agent removed from MLS for at least 6 months.
But they could have more offers so you have to play the game I guess!
It's very difficult to tell if this additional information is accurate or just a scam. We find that most agents are very willing to pass on this type of information at the time we present an offer. In most cases, we feel the agents are sincerely trying to be helpful.
The problem is that we agents are only as good as our information source....in this case the other buyers. People do change their mind, leaving us in the position of appearing less than truthful.
Your best approach is to present your "best offer" and put the other parties out of your mind.
We have had some of our lower offers accepted over higher priced offers. It's a matter of presenting the offer in a manner that captures the sellers attention:
1. Be pre-approved
2. Offer a small initial deposit followed by a larger secondary deposit after the home inspection
3. Offer a quick closing date (sellers like 30 days)
4. Make it a clean deal with as few contingencies as possible
5. Submit a cover letter with your offer explaining it is not your intent to offend the seller with your low offer but an honest attempt to purchase a home that's value is a true reflection of the current real estate market.
These steps will improve your position with the seller and the best part is it doesn't cost you any additional money....but guaranteed, it will get the attention of the seller. We have been very successful at getting sellers to sell for less with this strategy.
The "Eckler Team"
Michael Saunders & Company
Darline Dillon REALTOR e-PRO GRI
Ormond Beach, FL
I agree with Elm - the offer you make has to be an offer you are comfortable no matter what anyone tells you. I have seen where sometimes agents will say there are already offers so give your highest offer just to up the offers but not all of them are like that. I was an agent and saw the good and bad ones. Some are professional and caring while others are greedy. Go with your gut feelings and do not offer more than you are comfortable with since you will be the one paying the monthly payment and not the agent..
If you don't want to offer more, then leave your current offer as it is and hope for the best. If you really want the house, then make a reasonable highest and best offer.
P.S. Hope you like my saying. I love it.
I used to think the same thing when I first started in real estate :) In my experience there are usually other buyers and the other agent is telling the truth. Most sellers in this market will not play games when buyers are so few and far between. I am guessing that you are bidding on a foreclosure. In that case, then it is likely there are other buyers who have made an offer.
If you are willing to bid higher, than submit your best bid. If you are not willing to go any higher, then present your original offer again.