Here’s why you should give some of the stranger numbers (1,3,7,9) some love.
Typically, when you find yourself in a multiple-offer situation, the first increment by which you and your agent think to go above asking price is either $5,000 or $10,000. I see this strategy all the time from buyers bidding on one of our listings.
Here’s the truth: Making your offer $5,000 or $10,000 above asking price won’t help it stand out; if thinking in 5s and 10s feels natural to you, that’s because it’s natural for everyone. Instead, consider increasing your offer by $1,000, $3,000, $7,000, $9,000, or even $11,000—all odd numbers that don’t come to us as natural increments.
Still not convinced? Well, think about the impact on your monthly payment: If your offer price for a $200,000 listing is $209,000 but you have to raise again, jumping to $211,000 will only add $10 more to your monthly payment. Why doom yourself to bigger leaps of 5s and 10s?
If you have questions about this or any other real estate-related tips, call me directly or shoot me an email. We’re always glad to have a more in-depth chat with you about these topics!