“Seller WILL Receive Feedback Directly”
“You only find out who is swimming naked when the tide goes out.”
–Warren Buffett
The housing market equivalent of Buffett’s observation would be, “you only (especially?) find out who’s overpriced when the market shifts.”
As local Realtors will tell you, the Twin Cities housing market experienced just such a shift over the Summer.
From scarcity and multiple offers, we’ve now transitioned to a more balanced market — or even one that favors Buyers in some neighborhoods.
As a result, I’ve seen more expired and “long-in-the-tooth” listings the last month locally than I’ve seen in awhile.
With cold weather on the horizon, that means — at least for homes that are otherwise well-staged, photographed, and marketed — revisiting price.
Seller Beware, or, “What’s THAT About??”
Meanwhile, Sellers of such homes — who’ve been getting sporadic (or no) showings — should be skeptical if/when they inexplicably get a showing where the agent positively gushes over their home.
But that’s it — no Buyer or offer, just showing (or more likely Preview) feedback with lots of over-the-top compliments about how nice, well-priced, etc. the home is (note: a Preview is when a Realtor views a home without a client in tow).
Especially if the showing feedback goes directly to the Seller, the likelihood is that the agent is angling to be the next Realtor to list the home, when the current listing expires.
See also, “How the Housing Market Shifts Gears“; and “Sell in May and Go Away?* Not If You’re (Also) a Buyer.“
