Blind Bidding Wars

"The South facing balcony removes any concern for the afternoon sun. Yet has this seaview unlike other stacks that face the other block." Meg stretched her iphone towards Rachel to show the compass indicating S 165°.

Rachel nodded and backed into the living room. This is the best unit so far. I could place my TV on this side, extend out the kitchen toward the main door and enclose it with a glass sliding door. The layout is definitely more squarish than the earlier one.

"Do you have any more questions for me? Or would you like to take a second look at the master bedroom or the kitchen?"

"No, I am good. I am viewing another two units here so I will get back to you. And thank you for your time." Rachel smiled at the property agent then raised her palm to thank the seller. "You have a really lovely home."

The next two units were overtly underwhelming. Rachel could not envision how she could fit her 8-seater dining and her Fazioli baby grand piano into their horribly designed unit. What on earth was the architect thinking! So many nooks and crannies in the bedrooms and living room, making it hard to fit in proper furniture. One of the bedrooms will probably only fit in a study table and a foldable chair.

The stark comparison made her heart set on the seaview unit. I could really wake up to that view everyday.

Rachel shot off her offer via WhatsApp.

Hello Megan. The seller's asking price is at $2.6 million? I would like to make an offer at $2.45 million. The last sold unit was at $2.38 million which had a seaview too. As this is a higher floor, I am willing to give the owners a higher, fair and reasonable price.

Almost instantly, her phone pinged.

Thanks Rachel. Let me put through your offer.

Rachel was seriously excited and bent on getting the unit. She had started editing the floorplan on Windows paint. Planning the timeline, she would send this off to her Feng Shui master before her interior designer friend to get it rendered.

2 hours later, another text from Meg.

Hi Rachel, the sellers have rejected. Would you like to revise your offer? My take is that they will not consider anything less than $2.5m

That meant less cash for renovation. Rachel still caved. She absolutely loved the unit.

Ok, $2.51m for good will. Let's close this off. I will reconsider anything beyond this.

An hour later.

Sorry Rachel, I had underestimated. The sellers have rejected. They are looking at closer to their asking of at least $2.55m.

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Megan, aren't your sellers too bold in their asking.

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They are firm on the price that they will let go at.

Rachel relooked at the photos and videos that she snapped during the viewing. Gosh the seaview is fantastic. Layout is perfect too. Guess I could save on retiling the bathrooms and balcony for now.

Ok Megan, $2.55m is my final offer. 

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Ok noted your final offer. Let me speak to the sellers.

Rachel knew the game of negotiation and she had to make the final stand. She was confident that the home would soon be hers. It is a fantastic price for the sellers after all. She was the VP of Sales in one of the largest technology companies with 20 years of sales under her belt. Hell, she trained countless teams on the deeds of negotiation.

Meg did this hundreds of times for hundreds of sellers. She lived for the game of negotiation. She was confident that she would get the price her sellers wanted.

Twenty minutes later, Meg pinged.

Great news! They have accepted your revised offer at $2.57m!

Rachel saw the notification bob. Wait, my offer is $2.55m.

A split second later.

Message deleted.

Sorry Rachel! Ignore the above message. The sellers have accepted a higher offer at $2.57m.

Rachel grabbed her phone. What the fuck! There is another buyer in the picture? They have been using my offers to bid up the other buyer! She knew she lost the game this time. She lost the unit she wanted but she was just raging now. She felt played by her opponent. She should have known her decades of sales experience had no place at the negotiating table as she was too emotional and close to the deal. Perhaps this is karma for all my shrewd dealings with my vendors and partners. The universe wants me to have a little taste of my own medicine. In my defence, I was being competent for my organisation, not for myself! Rachel’s spiraling emotions of angst, discontent, guilt and unhappiness clouded her mind for the rest of the night.

Meg shut off her phone beaming proud of the price she achieved for her client and the 6% commission cheque in her pocket. She never failed to take on every offer from each buyer and bid them upwards with no risk of them walking out on the deal. Buyers would never engage in an open price war but if they were blinded, the seller wins every time. It's not fair, but what's fair in this world?

As Meg stepped out into her balcony with a million-dollar view, a text came in from her sellers. She read the notification bob.

Sorry Megan, just minutes after yours, we received an offer of $2.6m from our other agent. We have to accept the higher offer as it is just within minutes of yours. And the offer is too good to refuse. I am sure you will understand our position and decision. We thank you so much for all your efforts!

Meg stared at her phone. All that was ringing in her ears now were her own damned words, it’s not fair, but what’s fair in this world?

Perhaps the universe is fair, karma always comes back around. Sometimes quicker than others or sometimes a little later and hitting in more personally like a sucker punch.