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Dianne,  in springfield mass

Bring an offer OPEN HOUSE

Asked by Dianne, springfield mass Fri May 2, 2008

Has any one ever done one of these, where you ask your client their bottom line and have an open house best offer starting at $0000 offer will be excepted at 8pm end of open house.

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Sounds like an auction to me. In Albuquerque, New Mexico we are starting to see these auctions. A few realtors are hosting them, but there are also a few "investors" that host them also. Realtors normally pay a buyers agent commission at the auction but the investors normally do not. Make sure that everything is disclosed, and also that you don't pay over market for the auction house. If you have your realtor with you then you should be fine. The investors tell people that they will get a "deal" without paying a realtors fee, but in reality they are hoping everyone will get very excited during the auction and pay much more. I have actually witnessed an investors auction frenzy - kind of scary knowing the buyers didn't have a realtors representation.
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