That Would be *Five(!) Price Reductions (If You’re Counting) First, two caveats: 1) the home that goes with the rather brutal chart (above) — spanning over 2 years of market time — wasn’t my listing (I prepared it as part of my listing presentation for a home down the street); 2) it’s from a...Read More
“Make an Offer! Please!” For every action, there is an equal and opposite reaction. –Newton’s third law I don’t know about physics, but then I suppose Newton didn’t know about real estate. In real estate, the equivalent to Buyers’ agents who verbally probe for, shall we say, Seller “price flexibility,” are listing agents who troll for showings and offers by intimating...Read More
Realtor Rules of Thumb Once upon a time, when homes were cheap, Realtors had a saying: “10 showings, $10,000.” In other words, if a home had 10 showings but hadn’t sold, a $10,000 price cut was in order. Then, home prices went up — seemingly forever — and the phrase fell out of favor. Guess...Read More
Telling Sellers What They Want to Hear — At First While my track record landing listings is very good — it’s not perfect. The most common reason prospective Sellers choose another Realtor? The other Realtor took the listing at a higher, unrealistic price — a practice that Realtors call “buying the listing.” Exhibit A Last June,...Read More
False Negatives and False Positives In a post earlier this month titled, “Who’s Watching the Listing?,” I talked about the utility — and lack thereof — of tracking how many times a particular property has been saved on MLS. Generally speaking, the more people watching a listing, the better; presumably, prospective Buyers like the home but not the price, and...Read More
“Some Day, Son, This Will All Be Yours” It’s a given that, in a market of some 20,000-plus Twin Cities home sellers at the moment, some are more motivated than others. Which ones? You can usually tell by how well each home is priced, staged, marketed, etc. But there’s another, surefire way to know that a...Read More
