Price & Other Terms What is the Seller’s objective in multiple offers? If you said, “obtain the best offer,” you’d only be half-right; the better answer is, “obtain the best offer from the strongest Buyer.” “Eyes on the Prize” (Closing) That second, broader criterion takes into account not just the selling price, but such things...Read More
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...Read More
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...Read More
Last But Definitely Not Least Important Step The way I would do the check is like this: | 7549 ^ subtract | - 3958 | add | ------ | v 3581 | I just add upward, as if it were 3581 + 3958 ------ 7549? “If you have something to sell and want to find...Read More
“What’s Sauce for the Goose is Sauce for the Gander” I suppose the opposite of that is, “what isn’t sauce for the goose isn’t sauce for the gander.” Huh?!? One of the insights into pricing a “For Sale” home well is recognizing that some properties ARE more difficult to value, due to their uniqueness, location,...Read More
CMA (“Comparative Market Analysis”) Math I just showed an Edina home to clients who expressed serious interest, and want to know when they can double back to see it again. Their inevitable next question for me: “what do you think it’s worth?” While every house is by definition unique, the key to estimating a home’s...Read More
