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Active

“Realtor Job Description 2015”

Who Should the Listing Agent Meet Personally? Test your knowledge of modern residential real estate practice, and answer the following multiple choice question: Q:  Who should the listing agent (representing the Seller) meet at the home? A. The Appraiser working for the Buyer’s lender; B. The home inspector doing the city Truth-in-Sale-of-Housing (“TISH”) inspection; C. The...
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“All Showings Through Listing Agent”: The Golden Rule vs. The House Key Rule

Practice Tip for Agents Whose Listing Sold in Multiple Offers “Whoever has the gold, makes the rules.” –The Golden Rule What trumps The Golden Rule (at least temporarily)? What I’ll call “The House Key Rule”:  whomever controls access to an MLS-listed home controls the sale. That’s particularly relevant in the wake of multiple offers, when...
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Prematurely Switching to “Pending” on MLS

Distinction Without With a Difference:  “A,i” vs. “P” Once a “For Sale” home is under contract, Sellers are required to tell prospective Buyers (and their agents) of that fact. Otherwise, Buyers who view the home and write an offer — only to be told it’s already sold — tend to get upset! (and do things...
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“Sold, Subject to Inspection” — For a Month(?!?)

Is it Really Sold?  When No One’s Home — Literally — on the Listing Side Normally, listings progress from “Active” to “Sold, Subject to Inspection” to “Pending” to “Closed.” So, what does it mean when a listing gets stalled at “Sold, Subject to Inspection” for a month (or longer)?  (note:  the typical inspection timetable is...
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When “Active” Doesn’t Really Mean “Active”: Displaying “Pending,” “Contingent on Inspection,” etc.

EdinaRealty.com, Now New & Improved One of the biggest frustrations for prospective home Buyers is finding a house for sale online that really . . . isn’t. That’s because the home already sold or, more commonly, is under contract but hasn’t yet closed. At the other extreme, there are also homes under contract that prospective Buyers...
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Misleading Short Sale Statistics

How Many “Active” Short Sales are Under Contract? Four thousand Twin Cities short sales — the number of “Active” such listings on MLS right now — certainly sounds like a lot. At least until you dig a little deeper. It turns out that roughly half of those are under contract. Because the bank(s) haven’t signed off yet, the...
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