. . . And Isn’t Likely to Volunteer “Fake it till you make it.” –Career advice to newbies 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 experience can’t predict...Read More
“So, What’s My House Worth??” With the qualifier that I’ve probably been to less than four cocktail parties in my life, there is an odd parallel between the social banter doctors and Realtors invariably engage in with the public (“civilians”? “non-professionals?” “laypeople”??). For doctors, it’s people asking them about their aches and pains — or...Read More
Guess Which Direction “Zestimates” Err On? The local MLS just shared this tidbit (via Inman) about Zillow and its notoriously unreliable “Zestimates”: “If you’re an agent, you’ve probably worked with a Buyer or Seller that has found the “Zestimate” on Zillow of the property they’re selling or interested in buying. It can work as a...Read More
Estimates So Broad You Could Drive a Truck Through Them [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] RealAVM: $859,828 RealAVM Range: $662,068 to $1,057,588 Confidence Score: 66 Forecast Standard Deviation: 23 –Excerpt, MLS If you only...Read More
Stock “Comp’s” vs. Housing “Comp’s” If you want to buy 100 shares of Google or Amazon, what are the comp’s? How much the last Buyer paid a fraction of a second ago. After all, stock is fungible: every share (at least common) is the same as every other. Nanoseconds vs. Weeks (Months?) Now, assume you...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
