Identifying “Runners-Up” Buyers If you’ve been reading real estate blogs lately — this one and others — no doubt you’ve seen more discussion of multiple offers. That’s because, in a market with much lower inventory, we Realtors are seeing a lot more of them these days. In that vein, this post is about the pros and...Read More
“Powell Doctrine” vs. “Kaplan Doctrine” Military action should be used only as a last resort. However, when it is used, it should be overwhelming and disproportionate to the force used by the enemy. –Powell Doctrine (my paraphrase) Buyers who have serious interest in a home should stay off the listing agent’s radar until such time...Read More
“The Plausibility Test” One of the biggest questions for Buyers interested in making an offer on a particular home is, “who else is interested?” (i.e., “do I have competition?”). Of course, the ultimate expression of interest is an actual, written offer; if the listing agent has received one (or more) — believe me, you’ll know. See, “Is...Read More
How Much Is a Strong Realtor Really Worth? So, which offer did the Seller of this new-to-market St. Louis Park rambler choose to work with the other week? (Yes, multiple offers can and still do occur in today’s housing market, albeit only for homes in good locations, that are well-priced, and in move-in condition). Was it the highest offer?...Read More
Is the Realtor “Just Blowing Smoke?” When people come through my Sunday open houses and express interest, I ask for their contact information and (attempt to) stay in touch. I’ll also call to give them a heads up if/when an offer is coming in. Invariably, I never hear back. Which leads to one (or more) of...Read More
Housing Market Achilles Heels and Deal Breakers Experience has taught me that if something’s been on MLS for more than a week and looks too good to be true . . . it invariably is. The latest reminder of that was an $80k Hopkins home that I just showed this afternoon. The catch? Actually, two: 1)...Read More
