I also work as a buyers agent in your zip code, if you need answers just ask me I would be happy to assist you.
And to answer the comment about 'escalation clauses': These are sometimes called 'sharp bids' and are not practiced in Silicon Valley. It may not be practiced in the rest of the state; I don't know.
They are not generally considered legitimate offers. What if you got two or three of them? And if you aren't offering a specific price, it probably would not be considered a ratifiable contract. A sharp bid comes in on one of my listings every year or two but most of the time the agents who present these offers have not been able to adequately judge the range of the final price and have usually had inferior terms to boot.
You make your best offer. You offer what you would be willing to pay for the house. When you are outbid, you could be relegated to a backup position (somewhat rare and not particularly advantageous). The listing agent may tell your agent where you might have hypothetically ranked but there are too many other factors besides price that are considered.
Winning multiple offers is part science, part art, and part paying attention to all the circumstances and conditions surrounding the property. The highest dollar amount doesn't win all the time. The best offer usually does.
If you've been losing multiple offers, there is no easy cure. At the same time, there is no secret statistical formula that can be derived from the number of offers on a property that will provide you with the answer to winning the next one. It is all in paying very close attention.
I'm involved in multiple offers for my buyers and listings almost every week. So are a lot of other agents. Every one is different.
Coldwell Banker Elite
President - PRDS, Contracts and Forms for Silicon Valley Residential Real Estate 2008, 2009
President - Silicon Valley Association of Realtors 2007
DRE #00896552 licensed since 1985
Lets say you dont want to pay more than $200,000 but want to offer $185,000. Offer $185,000 with a $1,000 escalation clause not to exceed $200,000. So if there is your offer of $185k and say $190k. You will beat them out and get it for $191k.
It is all up to them. Be careful, because there are some listing agents that will bluff, in order to start
or continue a bidding war.
Best of luck!
If you are referring about finding if a property is Pending sale, a realtor can look that up for you.
There is no such web site, as this is not required to be disclosed.
It is possible on a REO, the listing agent puts it in the Confidential Section Of a listing on the MLS. Also, many agents do let other agents know on a secured web site how many bids there are.
In a regular sale this is viewed as private data, and a listing agent is not obligated to share it.
In a BANK owned property sale, there are deadlines and multiple offers, and multiple counters,
An area like Blossom Valley that is seeing declining values and significant foreclosures, it is not
Uncommon for listing agent to just post it so that they do not get calls for sucwe information.
We are all seeing multiple offers on well priced Properties. Everyone is looking for a deal,
and edge to push out the other buyer.
Blossom Valley is no exception, we just showed 8 properties there today, there is a lot to
Choose from, and the few very good ones, that are priced low to sell fast, go with
Perry and Ruth
Certified Distressed Property Expert.
Coldwell Banker Silicon Valley top 1%
Ranked in the top 100 for sales at Coldwell Banker silicon Valley
A few agents post number of offers received on their websites but many agents don't. As another agent mentioned, the information is sometimes unreliable if it is available. Some listing agents will tell you but the number of offers may be different when the seller reviews offers. Experienced agents do not need such information because they know the price range in a neighborhood.
SanJ ose Realtor
My experience is seller(be bank and individuals) are tired of signing rejection offers. 30-40 used to be a lot. Now I have seen 112. The buyer has to treat it as serious business. Most of the time you get only one shot at it.
You are competing with people who wants to close it in 7 days with cash. If you were a seller what would you do?
make an offer, and perhaps there are multiple offers on this house, the best is to determine what the market
is for this property. Then determine your best price for the property, what $ you are comfortable with and go for
Best of luck!
Monica Goyal, Realtor
Keller William Realty