Framing the Choices In politics, it’s often said that “whoever defines the terms of debate, wins.” The equivalent in real estate appraising would be, “whoever decides the geographic area for choosing the comp’s, defines home values.” What does that mean? One of the challenges choosing and analyzing “comparable sold properties” (comp’s) is coming up with...Read More
Inflated Realtor Claims Does one sale make you an “area specialist”? That’s the claim being made by a Coldwell Banker Burnet agent who just sold a home about a block from where I live near Cedar Lake in Minneapolis. The agent’s flyer, which was just left on my door, trumpets “Just Sold” above a photo...Read More
How the Billions Are Made Today John who? If you didn’t know, John Paulson (no relation to former Treasury Secretary and Goldman Sachs chief Henry Paulson), apparently is the guy who’s made the most money the last two years or so. In the world. After making $4 billion or so in 2007, Paulson made another...Read More
Schizophrenic State Weather Friday, I was racing to find the a/c controls at my listings, which all seemed to be roasting (not the impression you want prospective Buyers to come away with). Today, I ran the same drill in reverse, trying to find the heat controls. Only in Minnesota (or maybe, Siberia). It won’t be...Read More
Open Houses and “Nosy Neighbors” When I hold Sunday open houses, one of my top, target audiences — at least the first weekend — are the neighbors. Not because a neighbor is likely to buy the home, but because they might know someone who will. Sometimes, an especially motivated neighbor will even recruit a Buyer....Read More
Attention to Detail + Hands On Role What exactly do Realtors mean when they say they’re “full service?” It’s certainly a fair question, because a full service commission in the Twin Cities these days typically ranges from 6% – 7%. By contrast, “discount” Realtors charge 5% or even less (“limited service” is actually a better...Read More
