“10 Showings, $10,000″ ” Updated Realtors have a saying: “10 showings, $10,000.” What that means is, if a home has been shown by 10 agents ” each representing a serious, well-qualified Buyer ” and it still hasn’t sold . . . it’s overpriced by at least $10,000. Of course, $10k presumes an average priced home...Read More
“Ten Showings, $10,000” — Updated Realtors have a saying: “ten showings, $10,000.” What that means is, if a home has been shown by 10 agents — each representing a serious, well-qualified Buyer — and it still hasn’t sold . . . it’s overpriced by at least $10,000. Of course, $10k presumes an average, $250k home....Read More
How Long Should Sellers Wait to Reduce Their Price? “If a tree falls in the forest in forest and no one is around to hear it, does it make a sound?” –Philosophy riddle “If a Seller drops their price when the market’s slow, does anyone notice?” –Corollary, Ross Kaplan Not all “days on the market” are...Read More
“How Long Was the Home on the Market?” vs. “How Much Exposure Did the Home Get?” With multiple offers making a comeback in parts of the Twin Cities — I’ve been involved in three in just the last six weeks — it seems appropriate to ask, “Did that just-listed home sell TOO fast?” It’s certainly...Read More
Commission Saved: $8,000 Hit to Sales Price: $20,000 In FSBO Mistake #4, I chronicled the case of the hapless For Sale By Owner (“FSBO”) in Golden Valley who wasted their first — and best — month of market exposure incorrectly classified as a “Foreclosure” on MLS. Hit to their bottom line? I’d estimate 3% to 5%....Read More
Meticulous Prep + Market Exposure = Full Price The corollary to “Overpriced? How to Tell,” is that it is impossible for a good Realtor to underprice. Why? Because good Realtors make sure that the homes they list are in optimal condition before they hit the market, then benefit from a tsunami of marketing exposure before,...Read More