You have just been set up to take multiple bids at once, and this gives you the freedom to go with the best one. Potential homeowners who really want your house for their own are going to start bidding high, and they might keep overbidding each other. In this type of situation—a bidding war—it isn’t uncommon at all for the seller to come away with more than their asking price. The reality is, you might get one bid out of the whole shebang. However, the bidder isn’t privy to that information. The fact they know they could be competing against other offers also works in your favor. They’ll try to make an offer better than everyone else’s, because they don’t have a clue that no one else is bidding. Who does the winner turn out to be? You! NEGOTIATION TECHNIQUE #4: An Expiration Date for Extra Motivation Remember, once you and the buyer agree to an offer and sign the contract, you are legally bound to see the process through until you and the buyer close the deal or agree to cancel the contract.
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