Is it norm today to pay higher than listing price to get deals?

[Mayuri Lulla]

I am a new rental property investor from MW. In my market it's very hard to find good deals on single or multi family   investment properties. Listing agents are not even entertaining offers anything less than listing price. They are getting multiple offers at least $5K -- $30K above the listing price. Is this normal? I find it very unusaul market condition! Are other investors facing similar challenge in their market?  should we consider paying full price or even premium to get rental investment properties? or is market going to get correction and it's better to wait for the right opportunity? Please share your thoughts! Thanks. May.