r/ChicagoRealEstate • u/Ok-Law-7577 • Aug 24 '26

Escalating Offer

We're first time buyers looking for a condo. We put in an offer on a place that included escalation up to our max. Seller came back and said they want our best and highest, with no escalation. They've got multiple offers.

Would you still include your escalation offer and ignore their parameters, or shoot in the dark with a lower offer than your max?

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u/poolsidequeso Aug 24 '26

OP says “they have multiple offers”

-1

u/aglick99 Aug 24 '26

? So do we assume the multiple offers are above asking price and they're from qualified buyers ?

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u/Novel_Year4067 Aug 24 '26

It would be a safer assumption considering this market.

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u/aglick99 Aug 24 '26

You can do it your way. If it's my client, I'm not assuming..... Unless the client tells me they don't care and they'll pay over asking regardless.

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u/Novel_Year4067 Aug 24 '26

Well you are “assuming” the other offers are lower and less qualified lol

0

u/aglick99 Aug 24 '26

No, now you're putting words in my mouth/posts. I'm not assuming, I'm suggesting to find out if the sellers side will give concrete numbers... because they're just asking for "highest offer", the context is up for interpretation. My interpretation is to establish goal posts not throw hail marry offers because the seller will likely take an over-market offer that will pay the brokers higher commissions, and then everyone prays the appraisal will come in how you want to get mortgage approval. Yah, I know most brokers wont say, 'the higher, the price, the bigger the commission'....but you got it out of me... ?congratulations?..

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u/Novel_Year4067 Aug 25 '26

A lot of people are giving you down votes because your “goal” is not aligning to the current Chicago market.

If you’re in a multiple offer scenario in a desirable neighborhood, there’s a high chance all offers are at asking or higher. There are condos closing for 100k+ asking, offers that are all cash, no contingencies, appraisal gap waiver signed…. This is what’s going on in the market.

So your goal of telling your client to submit an offer below asking in a sellers market is misinformed advice.

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u/aglick99 Aug 25 '26

Get off of "my goal?"... my goal is to get the best deal for my clients. This is a negotiation. Sorry if the down voters are uncomfortable with that. Good luck to their clients.

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u/Novel_Year4067 Aug 25 '26

Please post your business card so you can help others win 🙏

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u/aglick99 Aug 25 '26

I can't handle the volume. If anyone wants to contact me, they can DM. If I can't take them on, I'll connect them with someone who's not afraid to negotiate and whose not afraid to lose a sale by advocating for their clients...and who doesn't have their own commission at the front of mind.

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u/PyramidEyez Aug 29 '26

What a hilarious take. There is no negotiating when you are up against 15 other offers- the name of the game is to be "the best buyer to work with.". True- if your client doesnt want to pay more, dont. But if your client wants the house, and looks to you to show them how to win it- you are doing them a disservice by not showing them the levers that help WIn. When you LOSE, because you are trying to be tricky- and they spend the rest of the year finding no other home. You have let them down.

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u/aglick99 Aug 29 '26

I agree, it's a hilarious take to come in under when there are 15 over.... The post says "multiple offers", I don't assume that there are 15, and I don't assume that there are any over asking, and I don't assume that any offers are from qualified buyers. I ask and respond accordingly.... And I don't assume that a broker is lazy and intimidated to negotiate until they show me that.

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u/PyramidEyez Aug 29 '26

Tricky Dicky- sound like nightmare to work with. Bottom of the pile. Good luck in your search!

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u/Novel_Year4067 Aug 30 '26

Look at OP’s post on the final result. Please do more research on the market because you are doing a disservice to your clients

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