AgentBrokerage

Should buyers make offers on multiple homes at once?

The tactic is becoming increasingly popular
  • Homebuyers are increasingly making offers on multiple properties at the same time, according to Redfin.
  • The tactic may or may not make sense for buyers, depending on the market and whom you ask.

The bidding wars convulsing many real estate markets are reportedly driving more homebuyers to adopt a somewhat cynical tactic: making offers on multiple homes at once. Is the tactic kosher? Some agents shake their heads vigorously, condemning the practice as unethical and counterproductive. But others say casting multiple bobbers can be necessary. The tactic's viability also may vary by market. The biggest challenge for buyers Multiple offers on properties was the greatest challenge buyers faced in the second quarter of 2016, according to a survey of 800 Redfin real estate agents across the country. Just over half of respondents cited multiple offers as the biggest obstacle for buyers. That's up from 40 percent three months ago, when low housing inventory was cited most often. The fierce competition has "given rise to an increasing challenge for buyers and sellers alike -- buyers strategically making offers on more than one house at a time to increase the p...