Tag

cancelled listing

“Photos Are From Previous Listing” — Agent Remarks, MLS

Cheapskate Listing Agent — But Honest (Sort of) I’m sure it’s not the first time that a “successor” agent has taken over an expired or cancelled listing from the incumbent agent, and re-used their photos. But, I’ve never seen the new agent disclose that fact — albeit in the “Agent” (vs. “Public”) Remarks section on...
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High Mpls. Property Taxes Set in Motion Negative Feedback Loop

Virtuous — and Vicious — Cycles What happens when a for-sale home saddled with sky-high property taxes doesn’t sell?  Frequently, the owner opts to rent it out instead. Fast forward 2-3 years, when the surrounding block and similar ones are not-so-suddenly studded with rentals. Prospective home Buyers who want to be surrounded by other homeowners balk —...
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Lies, Damned Lies & Realtor Statistics

How Accurate is “Average Market Time?” One of the most important statistics in residential real estate — at least to prospective home sellers — is a Realtor’s “Average Market Time.” As defined by MLS, that’s simply the average amount of time it took the Realtor to sell their listings (at 34 days, I ranked second in Edina...
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Why Difficult Buyers Are Harder to Spot Than Difficult Sellers

The Housing Market’s “One-Percenters” In my experience, the vast majority of people who want to buy or sell a home (at least in Minnesota) are a delight to get to know and work with. And the fact that so much of my business is from referrals says that my clients feel the same way about...
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The Science — and Art – of Doing Comp’s

“Expired’s,” “Cancelled’s” Loom Larger Until a few years ago, I never spent much time looking at Expired or Cancelled listings when I was preparing a Comparative Market Analysis (“CMA”). Today? Depending on the part of town and property type, that’s often where I start. If you don’t take unsold listings into account these days —...
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The CDOM Stigma

“So . . . How Long Has it Been on the Market??” First, a definition:  “CDOM” stands for “Cumulative Days on the Market” — what non-Realtors call “market time.” As a prospective Home Seller (and their Realtor), it’s your friend on a new listing, neutral after perhaps 6-8 weeks on the market . . . and...
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