Resources for Home Sellers

Mirror

Taking Would-Be Sellers on a Tour of Competing Homes? Bad Idea

When Subjectivity Isn’t Just Superficial If the Comp’s aren’t convincing enough, Realtor “Jane Doe” will take Sellers on tours of comparable properties. “They can see this other house is in much better condition, and it’s priced $20,000 less than theirs. It’s eye-opening.” –Spokane agent, sharing her strategy for working with unrealistic Sellers in “Setting Them Straight”; Realtor Magazine. ...
Read More

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...
Read More
Must See

Avoiding Real Estate Clichés Like the Plague (see what I mean??)

“Not a Drive-By!” “Must See!” Yada, Yada, Yada One of my favorite Mad magazine cartoons (circa 1970) shows a vendor in front of a food stand with the following sign: “turkey burgers,” “chicken burgers,” “buffalo burgers,” “tuna burgers,” “veggie burgers,” etc. etc. The caption: “we have some with ham, too, but we don’t know what...
Read More

“Wait a Second! Don’t Sellers Try to Get MORE for Their Home, Not Less?!?”

Multiple Offers and Appraisal Worries (Still) Alice in Wonderland would’ve loved today’s bizzaro housing market. That’s because — in the midst of an unprecedented Buyer feeding frenzy — “up” is often “down,” “in” is “out,” and “down” is “up.” Exhibit A: the Minnetonka home seller who reportedly countered a Buyer $20k below the price offered...
Read More

What to Do About the Pornographic Statue** on the Neighbor’s Front Lawn

When the Neighbors are the Dealbreaker Prospective Buyer: “We love the house. But we could never live across the street from that pornographic statue.” Phil Dunphy: “Oh . . . huh . . . I never noticed it.” Prospective Buyer: “Yeah . . . you can see it from inside when you look out the...
Read More

Proper (& Improper) Purposes of Realtor Previews

Why “Just Previewing” (Usually) Serves Sellers’ Interests A Realtor showing is when a Realtor takes a prospective Buyer through a “For Sale” home. No competing Sunday open house traffic, no busybody listing agent (representing the owner) present, and — perhaps most importantly — no owner around. The convention is to set up the showing online anywhere from a...
Read More

Translating Minnesota Nice: “Interesting” vs. “I-n-t-e-r-e-s-t-i-n-g”

“Wasn’t That House Interesting!” — Compliment or Dis? At least outside of Minnesota, “interesting” actually can mean . . . “Interesting.” As in, “unique” (in a good way), “provocative,” or “stimulating.” By contrast, when Minnesotans say it — especially in the context of house-hunting, and they enunciate the word slowing (“i-n-t-e-r-e-s-t-i-n-g”) — they invariably mean...
Read More

“De-Clutter” vs. “Trash-Out”

It Depends Who’s Talking Have you ever noticed that their stuff is sh*t and your sh*t is stuff?” —George Carlin Part of real estate sales — make that a big part — is treating clients with sensitivity and respect. That’s especially true for elderly clients, who haven’t moved in decades and have strong emotional ties...
Read More

“Who Ya Gonna Call?” (When an Offer Comes In)

Listing Agents Who Call the Buyer’s Lender As a Buyer’s agent, how can you tell if the listing agent (representing the Seller) is taking your client’s offer seriously? They call the Buyer’s lender — specifically, the lender on the Buyer’s Pre-Approval letter — and verify key information. Like, whether they’ve previously worked with the Buyer;...
Read More

Realtor Bidding Wars (aka, “Buying the Listing”)

“I’ll List Your House for $700k $750k $800k!!” Anxious Buyers aren’t the only ones bidding up home prices this year. So are some Realtors, including at least a few who should (and do) know better. Housing Market Icaruses One of the things that can happen when prospective home Sellers interview lots of agents in an...
Read More

Archives