Uptick in Pre-Signings Historically, the closing was when Buyers and Sellers put aside any hard feelings from their long-concluded sales negotiation, and wished each other well (and the Seller explained to the Buyer how that tricky basement light switch worked, amongst other things). Is that tradition a casualty of today’s more contentious housing market? The...Read More
“And the Mechanical’s are Ancient, Too!” I just tripped across this in the Agent Remarks field of a St. Louis Park duplex that’s currently on the market: Sale Subject to Bank Approval of Short Sale. Cash Low and is fully rented on Long-term leases. Owner could occupy though with proper notice. Huge 4 car garage...Read More
Turning Up the Heat on a (Very) Cold Trail Once every month or so, I get a voicemail like the one I got today: “Hi, this is Bob Smith at Smith Realty. I don’t know if you remember or not, but you showed my client’s home at 123 Elm Street in December(!), when it was...Read More
“Dating,” “Going Steady,” & “Engaged” If you’re a homeowner whose house is on the market, here’s a quick way to characterize your relationship with your (listing) agent: Less than 3 months on the market: Dating3-6 months on the market: Going Steady6-12 months on the market: EngagedOver 1 year on the market: Married Unlike in real...Read More
Overpriced Homes AndPhantom Negotiating LeverageIs a too-high asking price negotiating leverage? Apparently, some Sellers today think that it is. Instead of pricing their homes within the range suggested by the “comp’s” (comparable sold homes), they stake out a price as much as 30% above. Why? Negotiating leverage (presumed, at least). When their home doesn’t sell,...Read More
Resuscitating a Cold ListingClients may not always appreciate it (or even know), but there’s a big difference between what an attentive, skillful Realtor does in the course of marketing a home (a “listing” in Realtor-speak), and what someone less capable or motivated does. To take just one example, consider what happens when a home fails...Read More
