Just learned 1 in 5 first-time buyers get outbid at least 3 times

Saw a stat from the National Association of Realtors last night. Blew my mind. 20 percent of first timers face multiple rejections before they get an offer accepted. That's higher than I thought. Did you guys get outbid a bunch before landing your place?

2 comments

2 Comments

dylan_thompson8d ago

My cousin got outbid on nine houses before he gave up and moved in with his parents.

kai_brown237d ago

That "gave up and moved in with his parents" part kinda stands out to me. I get how frustrating it is (I've been there myself) but nine rejections doesn't mean you have to quit. My buddy Sarah bid on twelve houses before she got her first one, and she was renting a crappy apartment the whole time. She kept tweaking her offer strategy each time - smaller contingencies, bigger earnest money, that kind of thing. Moved in with her folks might feel like the only option, but it's not always the right call if you can stick it out a bit longer and adjust your approach.