Are Mass Offers Failing?
I don't make mass offers myself but I know those that do and wonder whether this tactic might have had it's day. To make mass offers means you need to quickly scan through your leads and make a decision on whether or not the asking price for a subject property is below an estimated ARV. No detailed analysis at this point.
You then may end up with (say) 20 or 30 offers sent out. The idea while good in theory that some might "stick" surely means losing support of realtors over time:
- In the 1st place it means a lot of extra work they may not need nor want,
-In the 2nd place, many if not most of these offers will probably need re-negotiating of price and no doubt subsequent failure of the contract. That's sure to piss the realtors off even more.
It seems to me that more and more vendors are only allowing pre-inspection and no "inspection period" contingency.
So, what to do?