Double Bidding on Life Settlement Cases

I have been talking to a handful of both agents and brokers who are glad that it seems like double bidding has really started to slow down. Double bidding is basically when a life settlement case is shopped by multiple brokers and the funding source will offer the same amount to the brokers and basically let whoever will work for less or  whoever has more control can close it.

In the current market, where we have more cases than buyers we are seeing funders no longer double bidding and almost ignoring the policies that are provided by multiple brokers. This is a buyers market and the funds know when they see the file from multiple sources it is going to be shopped, their offer is going to be shopped, and it could take longer to close.

Just when you thought that the more brokers shopping your cases will get you the highest offer, it actually might hurt your chance of closing the case.