Pat's Market Wise Q&A column in The San Jose Mercury News: Double Dealing and Preemptive Offers
Q: Last month, we came upon an open house that was not on the list our agent provides. This seller’s agent apparently adds his listings to the Multiple Listing Service on Saturdays. During our visit, this hosting agent stated if he represented us as buyers, we would get a better deal. He also plainly stated he would sidestep his plans of two weekends of open houses and make sure our offer was accepted.
A: Those sellers had no idea their listing agent’s “creative marketing” strategy might be a self-serving play to line his pockets, not theirs. The safe bet is to sandwich a weekend between workweeks. Promoting the almighty open houses via a broker tour, and the auto-populating 85 realty websites is accomplished Wednesday to Friday. Planning the open houses like a grand opening stacks the deck toward hordes of people asking, “when is the offer deadline?” Double dealing on offer deadlines with preemptive offers tends to have everyone looking or feeling like a joker. The shrewd agent deals in weekend activity by helping it build until Wednesday, when his or her sellers are sitting with a poker faces listening to well thought-out purchase offers ~ the ones that rarely fold.
Pat Kapowich, REALTOR®
Certified Real Estate Brokerage Manager
ABR, CRS, GRI & SRES
A Trusted Name in Silicon Valley since 1960.
A Respected Name in Real Estate since 1988.
In 2014, Pat was named the 2013 Santa Clara County Association of Realtors “President’s Choice” Award Winner. “For demonstrating the principles of good real estate practice among brokers; for promoting and protecting home ownership and property rights for all; and for distinguished service to the members of the Santa Clara County Association of REALTORS® and the community at large.”