How Should You Think About Bidding Wars?

New York City is not the only competitive market in the country. In fact, it's probably more competitive everywhere else! The refrain I'm hearing from listing agents in Florida, Georgia, Chicago, California and elsewhere is this:

• We recommend a realistic price and push a seller to agree

• We show the house 30 times

• We have multiple offers

• We sell the house over the asking price in a bidding war.

But what aren't they telling you?

That over 25% of the winners of bidding wars BACK OUT.

What's Going On?

Something might be off, wouldn't you agree? Buyer's remorse is real, perhaps realer than ever. That prompts my question: Is it always "bad" to lose a bidding war? Or could it be the best thing that happens to you during your home search?

🏡 The Pursuit of Home: How to Buy Smart in a Competitive Market

In this episode of The Pursuit of Home, I sit down with powerhouse real estate duo Lisa Weissman and Bela Sheth of Houlihan Lawrence in nearby Westchester to explore how buyers can navigate high-stakes decisions with clarity, confidence, and heart. They are serious professionals; with decades of experience in the Scarsdale market, Lisa and Bela offer expert strategies for making smart choices, avoiding regret, and finding a home that truly fits.

Importantly, they offer some counterintuitive advice, and that's what I want to focus on. it's this kind of wisdom that will truly help you as a homebuyer or seller.

🔑 Key Takeaways from the Episode

1️⃣ The “Vanilla Canvas” Principle – Prep to Sell Smart Lisa reveals why presenting a home as a neutral, de-cluttered space allows buyers to imagine their lives unfolding there. Removing personal items and excess clutter helps create emotional space and often leads to faster, higher-value sales.

2️⃣ Balance Heart and Brain – Don’t Let Emotion Rule Bela explains why emotional intelligence is key in home buying. While feelings are inevitable, learning to compartmentalize during negotiations helps buyers make grounded, practical choices that lead to long-term satisfaction.

3️⃣ Avoid the Bidding War Trap – Stick to Your Max Overbidding out of fear in fast-paced markets can lead to regret and deal fall-throughs. Lisa and Bela advise setting a firm price limit ahead of time and trusting that another opportunity will come if it’s not the right fit.

4️⃣ Let Go of the Checklist – Stay Open-Minded Lisa shares how some of the happiest buyers end up in homes that look nothing like what they originally envisioned. Functionality and lifestyle fit often outweigh architectural style or wishlist features when it comes to true home happiness.

🎧 Listen now for grounded, actionable insights that can reshape the way you approach home buying: 🎵 Apple Podcasts: https://apple.co/45rmguT 🎵 Spotify: https://spoti.fi/3SRYmRM ▶️ YouTube: https://youtu.be/jeuEZ2NIIUU

📘 Want to keep learning? Scott’s book, The Pursuit of Home, is now available for pre-order! 👉 https://bit.ly/thepursuitofhomebook

📤 If this episode gave you a fresh perspective on real estate, share it with a friend who's on the hunt. Thanks!