Alternative for Would-Be Sellers: Taking a Break “The recipe is cash and balls: Throw in a very low offer and see what sticks. No guts. No glory.” –“As Coronavirus Cases Grew, Some Wealthy Buyers Still Bought Multimillion Dollar Homes”; The Wall Street Journal (3/26/2020). [Note to Readers: The views expressed here are solely those of...Read More
Realtor Broken Record I’m not sure why, but many listing agents (representing Sellers) right now seem to be fielding lots of verbal overtures from Buyers’ agents. Whatever the question, the appropriate response is always the same. See if you detect a pattern in the following exchanges: Buyer’s agent: “Would your client entertain a really low...Read More
That’s Your Offer? Really!?! “Pornography is hard to define . . . but I know it when I see it.” –Supreme Court Justice Potter Stewart No, there’s no scientific definition of a lowball offer, but like Potter Stewart, “I know one when I see one.” In fact, unbeknownst to laymen, there are actually three types...Read More
Passing on Unsaleable Listings Want a good Realtor to list (and ideally, sell) your home? In a Twin Cities market full of fussy Buyers and lots of inventory (with notable exceptions), you’d better meet the following three criteria. One. Be motivated. No, “motivated” doesn’t mean “desperate.” To a Realtor, a “motivated seller” is someone who’s willing...Read More
Disregarding Buyers’ First Offer Mulligan (ˈmÉ™-li-gÉ™n): a free shot sometimes given a golfer in informal play when the previous shot was poorly played. So, I think I’ve got a good name for today’s housing market: ‘The Mulligan Market.’ That’s because so many deals these days start out with the Buyer making an insultingly poor (out-of-bounds?)...Read More
