“It is in situations like these when it is vital that a broker understands the clients’ needs, desires and urgency,” says Scifo. “If a house ranks at the top of their list, it isn’t necessarily a mistake for them to pay a little more than might be fully justified by an appraisal.”
Getting clients to grasp that logic is why Campoverde stresses the importance of explaining the distinct character of the current market to them.
“Even then, some don’t believe you. Some think the market is the way it was two years ago, but it’s very different today,” he emphasized. “It can take losing one or two homes to understand and be prepared for the fact that you may have to offer more than list to get the home you want when multiple offers are on the table. I don’t want my clients to overpay for a property, and offering more than list doesn’t mean that they will.”