The Truth About “Multiples”
A Realtor must disclose that a property is in “multiples” if a second offer comes in before the Seller has an opportunity to respond to the first offer. It does NOT mean that there are 3 or 5 or more people vying for the property. And it for sure does not mean that these offers are full price!
And it also does not mean that there is any conspiracy to try to artificially drive up the price. More often than not, it’s just a matter of timing. So ignore it!
Create your own program and stick to it. In multiple offer situations, it is extremely common for the first accepted offer to drop out. So if yours is not the accepted offer, tell the Agent to hold onto your offer for “Back-up”. You’d be surprised to know how often the backup offer becomes the successful Buyer.
In short, there’s no reason to shy away from multiples. You may just get the house!