Multiple offers but no one buys?

[Joe F.]

Couldn’t make end time of open house so made an appointment with a real estate agent after open house. Listing agent was still there and said there were multiple offers during the open house. So I only gave the house a quick look over, not going to pay more than asking price, lower if anything. This was on day one of the listing and here it is 2 months later and house is still listed. Was I told this just to get me to make and offer?

Also, if a house is on the market for a long time does it mean it’s not worth buying? Is it sitting there for a reason?

This is for a house I want to live in for now. Not ready for investment property yet.

[Chris Mason]

Originally posted by @Joe F.:

Couldn’t make end time of open house so made an appointment with a real estate agent after open house. Listing agent was still there and said there were multiple offers during the open house. So I only gave the house a quick look over, not going to pay more than asking price, lower if anything. This was on day one of the listing and here it is 2 months later and house is still listed. Was I told this just to get me to make and offer?

Also, if a house is on the market for a long time does it mean it’s not worth buying? Is it sitting there for a reason?

This is for a house I want to live in for now. Not ready for investment property yet.

 Hi Joe,

Honestly, when a listing agent says anything to try to "motivate" a buyer, for me it's just in one ear, out the other, disregard the comment entirely. 

• If there are going to be multiple offers above asking, I'll know from the list price and comps, I don't need a listing agent to tell me. 
• If it was priced poorly and there's only likely to be one or two offers at around asking, or less, again I know from the list price and comps, and don't need a listing agent to tell me.

Case in point here, of course. Hell,when life gives you lemons make lemonade: write an offer for below asking on this place. Sounds like it was priced poorly.