When a good deal comes around, everyone jumps on it. When something really special hits the market, I let the buyers I am currently working with know about it. Imagine my dismay when two of my buyers wanted to see the same bank owned home listed at an oh-so-attractive price (even though it has no appliances and heat tape falling from the roof). Buyer #1 wrote an offer on the house over the weekend. Buyer #2 was tied up over the weekend and couldn’t see the home until Monday. I told Buyer #2 there was an offer on the home and did she still want to see it? Yes–she still wanted to see it. I was hoping that she wouldn’t like the house and I truly believed the home was a much better fit for Buyer #1.When Buyer #2 asked me what I thought of the house, I told her. Then I showed her another home which I thought was a better fit for her (although not necessarily a better buy). She loved house #2. Problem solved.
Hopefully she will write an offer on it. House #2 has been on the market for almost a year, so Buyer #2 knows she can take her time thinking about it. This experience illustrates the many forces at work in our current market.