Will the Backup House Sell in Time? In addition to the usual contingencies for Inspection and Financing, the Buyer making a Contingent offer for a house is adding a third, big one: that’ll they’ll be able to sell their current home — what Realtors call “the backup house” — within 60-90 days. In turn, the salability of...Read More
Setting Reasonable (vs. Inflated) Expectations Conducting multiple offers, well, is one of the biggest challenges facing a listing agent. In turn, that requires properly educating and coaching home sellers about the appropriate response timetable; possible negotiating strategies; offer nuances (“asterisk clause,” anyone?); disclosure choices and obligations; and use of MLS showing instructions. To name just...Read More
Dangers of Dual Agency: Representing the Seller, and Angling to Represent the Buyer, Too [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.] I just went through a “For Sale” home on high-profile France Avenue near Minneapolis’ Cedar Lake,...Read More
“That About Covers It” Department The line, “owner occupant and investor offers welcome” sounds plausible enough. Then I stopped to think: is there another kind of Buyer?? Short answer: not that I’m aware of. I suppose “2nd home” or “vacation home” Buyer, if the property had been a lake cabin. But in this case the...Read More
Realtors’ Investment? Skill, Time, & Marketing $$$ How long should a listing contract be? The short answer: Long enough to sell the property being listed. How long that is — assuming that the home is well-priced, staged, and marketed — is typically a function of price. Under $200k in the Twin Cities today, you’d estimate...Read More
Overpriced Home as Buyer Bait? Maybe, Maybe Not [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.] I know many of my colleagues vigorously disagree with me — especially in a seller’s market with crazy-tight inventory like today’s —...Read More
