Is it Smart to Submit Multiple Purchase Offers?

An agent in my office said he heard another brokerage on the radio in Sacramento advertising that its agents would write up to 10 offers a day for a buyer and swearing that multiple purchase offers were the only way a buyer had half a chance in our market.

It's a tough market in our area. We were one of the first areas in the country to get hit with declining prices, and we're one of the first on the rebound. Buyers are getting beat up pretty badly because it's a seller's market. We have limited inventory and more buyers than sellers for many entry-level homes. Compound that problem with the fact that short sales can take 3 months or longer before many banks will respond, and the agents who represent REO lenders may never respond, it's no wonder that buyers are feeling desperate.

Some buyers feel the only option available to them is to write multiple purchase offers and then jump on the first offer that gets accepted. But multiple purchase offers carry their own complex set of problems . . . read more about Multiple Purchase Offers.

More Articles by Elizabeth Weintraub:

• Competing With Other Multiple Offer Buyers
  
• Multiple Offers on the Same Listing
  
• Attracting Multiple Short Sale Offers

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}