Test your knowledge of modern residential real estate practice, and answer the following multiple choice question: Q: Who should the listing agent (representing the Seller) meet at the home? A. The appraiser working for the Buyer’s lender; B. The home inspector doing the city Truth-in-Sale-of-Housing (“TISH”) inspection; C. The photographer; D. The Buyer’s home inspector. Correct...Read More
Seasoned vs. Green Buyers; The Role of Pre-List Networking It’s accepted wisdom amongst veteran Realtors ” which I happen to agree with ” that “the first Buyer is (often) the best Buyer.” Why’s that? The explanation has to do with the nature of the pool of home Buyers at any given moment, plus Buyer behavior...Read More
Pre-List Networking Trial Balloon I’ve been in real estate sales for 18 years, and I still have no idea what a “$500-ish” price is. $520k, perhaps? Maybe $485k? In truth, I can imagine a “$500-ish” price falling anywhere between $480k to $530k or even higher. Buyer Trap? Which is no doubt precisely the point, especially...Read More
Do the Cars Come With?? Garages are so important to buyers that Chicago agent Michael LaFido “stages” them for his listings. “We’ll bring in vehicles”Porsches, Ferraris, Lamborghinis and Range Rovers,” Mr. LaFido says. “I particularly like Range Rovers because they appeal to soccer moms.” –“The Ups and Downs of Having a Home Garage“; The WSJ...Read More
Explaining the Ghost “For Sale” Sign Thanks to quirky (at least to me) MLS rules, home photos can’t include broker names or any other marketing information. Usually that’s not a problem, because the Realtor-ordered photos are taken before the “For Sale” sign is installed. Ahh, but when that’s not the case, to avoid an MLS...Read More
“Realtor ⇒ Client ⇔ Client’s Attorney” vs. “Client ⇔ Realtor ⇔ Client’s Attorney” [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] The listing agent and their excited client, the Seller, have...Read More
