Seller Psychology vs. Market Reality Quick! Which of the following are relevant for determining a home’s current value? A. What the owner/seller paid for it. B. What their neighbor sold their home for a year ago. C. What the another neighbor currently is listing their home for. D. How much money the owner spent on improvements. Answer: none of...Read More
Dueling Comp’s (and Spreadsheets) Real estate negotiation can involve lots of back-and-forth and numerous fine points, but in my experience, it’s usually not productive to get into a detailed discussion of/argument over the Comp’s, also known as “Comparable Sold Properties.” Put it it this way: I’ve yet to have the other side say, mid-negotiation, “you...Read More
Client to Agent: “What Would You Do?” “You break it, you own it.” —The Pottery Barn Rule. “You make it, you own it” (translation: if you make a decision for a client . . . you are responsible for the consequences). —Real estate corollary, Ross Kaplan. Whether it’s in the context of choosing a home,...Read More
. . . And Isn’t Likely to Volunteer “Fake it till you make it.” —Career advice to newbie real estate agents. In a hyper-competitive field where sales bluster is an ever-present temptation, real estate agents aren’t exactly the type to betray ignorance or confess a lack of confidence. And even consummate Realtors with years of...Read More
How Realtors Grade Clients Clients may have a select few words for their Realtors, but Realtors also have some favorite words for their clients. No, not “%!%#!” Rather, how “cooperative” they are. What do I mean by that? For Sellers, client cooperation boils down to these three things: 1. Pricing. A cooperative client picks a...Read More
How do Appraisers and Realtors account for a bowling alley in the basement? Or some other unusual feature, like a helicopter landing pad, 10,000 gallon aquarium, basement basketball court, bomb shelter, soundproof music studio, or dozens of other unusual —and therefore hard to estimate — home features? They don’t. Huh?? Self-Cancelling Features If it’s possible,...Read More
