A real-estate tactic for bidding on an $8.5 million property: offer more than asking, backed by comps that justify $9-10 million per square foot. Email the listing broker with your analysis so they're legally bound to tell the sellers the property is underpriced, giving you negotiating leverage.
Are you pitching deals in the deal room? Ready to talk. We're looking at this property and thinking about putting an offer on it. They're, they're wanting $8.5 million. They've got some offers in the low 8s. We think that a per square foot price based on the comps would justify us paying a little above asking. If this is true, please put together an email to the broker on record and let's get him to respond to, to this email somehow with an opportunity to discuss discussed how we could create a significant win-win-win for us, the community, and the sellers. And so it'll think about it for a little bit. One of the big things is that we found comps that justified paying like, you know, $9 or $10 million. Sending this to him in an email saying that we'd like to speak, you know, like to speak to the sellers about these options forces him to actually tell his sellers that he underpriced it. By law, he has to tell them every offer he get— that we get, including the ones that are above the asking price and why we feel like it's above.
