Hot take: My realtor friend told me to offer $50k over asking on a Toronto condo and I laughed in her face

Three weeks later that same unit sold for $45k over asking and I'm still trying to figure out if I dodged a bullet or missed the boat, has anyone else had a realtor push a crazy offer that actually worked out?

2 comments

2 Comments

wade7807d ago

Did I dodge a bullet or miss the boat? For me it's usually both at the same time, like I'll overpay on a place and then watch the market crash the next week. My realtor told me to offer $30k over asking on a condo once, and I laughed at him too. The thing is, it sold for $28k over asking and now that building has a leaky roof lawsuit and special assessments through the roof. So I ended up looking like a genius but it was pure dumb luck. Honestly I've learned that real estate is just gambling with nicer outfits.

sageburns7d ago

Hang on, let me ask you something about that "pure dumb luck" part. Do you actually think it's all luck, or have you started noticing patterns after getting burned a few times? Because I've been at this long enough to know that some people just get lucky once and think they're geniuses, while other people start reading the tea leaves better over time. Like with that leaky roof thing - were there any red flags you ignored on that one, or did it come totally out of nowhere? I'm just curious if you've developed a sixth sense for dodging those bullets or if you're still just throwing darts blindfolded like the rest of us.