Tag

market exposure

The Flip Side of a Seller’s Market

“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...
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Flip Side of a Seller’s Market

“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....
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“Dog Years” and Days on the Market

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...
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Did it Sell TOO Fast?

“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...
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FSBO Mistake #37

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%....
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Why It’s Impossible for a Good Realtor to Underprice

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,...
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