Hi everybody. Cheryl Knowlton coming out to you with your fifth and final for the week. Dynamite tip of the day on the biggest challenges that we face as real estate professionals. It came up in my Facebook feed as we talked about this and had a discussion about this about bidding low. About a listing agent, starting that listing price low in order to start a bidding war and that prompted and sparked, if you will, a lively discussion about ultimately what is our job as listing agents? We make it so complicated. We have one job, one job, and that is to sell the house, sell that property. It’s not necessarily a house, sell the property for the highest price that the market will bear, championing that seller in every fiduciary duty that we hold, right? OLD CAR. We talk about that in many other courses and in other videos.
Learn what OLD CAR stands for
So if you don’t know what I’m talking about when I talk about your six fiduciary duties and OLD CAR, make sure you write that down and find the video on that or reach out to me and I would be very, very happy to share that with you. Bidding starting low strategically in order to create multiple offers, yes, that can be frustrating for buyers and yes, that can be frustrating for buyer’s agents. But remember the object of the game for the listing agent is to sell the property for the highest price the market will bear and championing the seller. So is that actually a problem that listing agents are starting low and then creating bidding wars?
Not necessarily, especially in certain price points where you realistically we can expect multiple offers anyway. That needs to be something that you learn how to address. I have a course on that called Juggling Chainsaws that I love to teach and multiple offers are handled a little bit differently in each state because there are specific addenda make note of that if you need to learn how to up your game when it comes to multiple offers, write that down. Make that a goal for this quarter. Don’t wait as things heat up over the spring and summer, you’ve got to know how to champion your buyers and champion your sellers by handling multiple offers in the very most strategic way possible. And that is my dynamite tip of the day.