May 19, 2020

“Splitting the Difference” & Other Negotiating Tactics

Real Estate Negotiating Principles “Whomever speak first [in a negotiation] . . . loses.” —Anonymous. “Whomever proposes “splitting the difference” in a negotiation stands to get the better bargain.” —Corollary, Ross Kaplan. Veteran negotiators will attest to the truth of the first statement: if you speak first, you never find out if the other side...
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Hobby Farms < 1 Hour From Twin Cities

“Hobby Farm” vs. “Farm Farm” When a home on a large lot somewhere in the “burbs doesn’t scratch your itch, what’s next? There’s alway a cabin up north (it IS Minnesota, after all). Other alternatives include a vacation timeshare; a 2nd home in another part of the country; or simply increased travel — at least,...
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Why the Neighbor’s House Usually Isn’t a Comp (“Comparable Sold Property”)

Comparing Honey Crisps to Braeburns One of the more quizzical looks Realtors get is when they (try to) explain to a prospective home Seller that their neighbor’s house isn’t a “Comp” (Comparable Sold Property). In plain English: it isn’t relevant ” at least directly ” for pricing their home. For the uninitiated, a Comp is...
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“Detached Townhome” vs. “Single Family House”

MLS Style Category Definitions 1. (SF) One Story (ONEST) One story single-family house 2. (SF) One 1/2 Stories (ONEHF) One 1/2 story single-family house. Second floor only has adequate ceiling height in a portion of it. 3. (SF) Two Stories (TWOST) Two story single-family house. Has adequate ceiling height throughout upper story. 4. (SF) More...
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