This works if you have an open house/2-5 days dedicated to showings and a set time where offers are allowed (which is at the end of that showing period). However, even now, houses need to be appraised by the bank for the buyer to get the loan for the house, and many people aren’t ready to get in a bidding war only to then need to come out-of-pocket an extra $10k because they bid too much and the bank appraised it that much below the offer amount.
Exactly. When I sold my house a few months ago I found a good agent that helped me price correctly and we sold the same weekend. Made sure it went to someone that actually needed a house and not some investor looking to flip. Still came in over asking.
