multiple offers or bidding war?

From Flickr commons WWI

Ah yes, it is fun to play with words. When see, hear or read news reports about the housing market they report that there are “bidding wars”.

Using the word “war” adds an extra element of drama to the situation and probably makes the winner feel extra special.

In real estate offices and when talking with our peers we talk about “multiples” everyone knows what we mean when we say “it sold with multiples”, or “we got multiples”.

No matter what it is called competing with other buyers happens when buying homes in St. Paul. Buyers need to know that they may not get to negotiate. The sellers will accept the best offer so it is important that buyers make their best offer.

Buyers who win and have their offer accepted should say that they won a bidding war. Buyers who loose out should say that they lost out in multiples. šŸ™‚

Sellers who are expecting multiple offers but are not receiving them should revisit the asking price, the decor, the condition or all three.

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