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Home Buyers

Can You Say, “Feeding Frenzy?”

Bloomington Rambler Gets 56(!) Offers, Sells for 25% Over Asking Price If you’ve never been in multiple offers, here’s a quick shorthand: 2-3 is stressful; 6-8 is a three-ring circus; and more than a dozen is a proverbial zoo. So, I literally don’t know what to call what just happened at 800 E. 86th Street,...
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The 2nd Most Important Date in a Home Sale

[Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] The most important date in a residential real estate deal? Easy: closing. So, what’s the second most important date? At...
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And Repeat: “Never Negotiate Furniture,” “Never Negotiate Furniture. . .”

Novice Realtors Rush In Where Pro’s Fear to Tread “Never negotiate furniture.” “Never negotiate furniture.” “Never negotiate furniture.” “Never negotiate furniture.” Realtors who don’t know the above rule — or forget it — soon get the opportunity to (re)learn it. That’s because negotiating the sale of personal property, particularly furniture, can be more challenging than...
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The $394,727.89 House (Huh?!?)

Consumer Psychology and the Too-Precise Price When you see an oddly-priced “For Sale” home, there are two possible explanations (at least in my experience selling residential real estate): One. Drawing Attention. The way to stand out** from homes listed at $389,900, $399,900, etc. is to price at $398,731 or some such (I haven’t seen a home...
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Runner-Up Home Buyer Lament: “But, I Would’ve Gone Higher!”

“Highest & Best,” Defined [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] One of the more anguished — and fruitless — laments uttered by Buyers who just found...
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Negotiating Strategy 101: Is Time Your Enemy or Friend?

Home Buyer Strategy in a Seller’s Market Never negotiate hungry. Or tired. Or driving — especially driving.” –Ross Kaplan, “Negotiating Advice.” While most negotiating advice is focused on the “How” of negotiating, experience has taught me that that can be much less important than the “When” or the “Where.” As in, when to stop negotiating...
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