Hat tip to ‘just some guy’ who sent this in:
http://www.sfgate.com/
He was worried that it could mean early retirement for JtR, but we are a creative bunch over here.
The creative methods in the article are, in part, hatched because the buyers are frustrated by losing multiple bidding wars, and getting a good agent can cure that problem.
I will tell you what it will take to win a bidding war, and put you in position to do so. We know the tricks of the trade, and win most of the bidding wars in which we are involved.
In addition, Richard and I have represented buyers on four sales this year where the deal was made by finding the property prior to MLS input.
When we represent sellers though, I am adamant about the listings going on the MLS for full open-market exposure. Pocket listings are bad for sellers.
As the market moves more in this direction, we are willing to work hard and smart to create deals, AND offer a more-nimble consulting service for those buyers and sellers who find themselves and just need guidance.
I feel sorry for Warren Buffett, and anyone else who is banking on the traditional-realtor model though.
I wouldn’t lose much sleep over BRK – Warren and Charlie have a lot of irons in the fire. After all, you can’t win them all (ask him about US Air or Solomon brothers some time).
Sometimes the best way to win a bidding war is to not.
If the property just popped up on the MLS, it’s probably going to get sold. If it’s been up a while, as little two weeks, sometimes sitting pat is the best option and let the others blow their steam. I know for investment properties, all cash offers come flying in site unseen and then vaporize within a couple days of being accepted.
The best thing to do in the bidding wars is stop chasing the new rabbit.