Fellow realtor Paul left this comment earlier: Thank you Paul! Why don't realtors adopt the full-transparency idea? Since the beginning of time, there has been an old wife's tale that agents can't divulge anything about the offers they've received. It's a bunch of...
This was the seller who had a competing agent tell them that I'm tough to deal with because I like to create a bidding war. The seller took it as a compliment, and I did too. Don't you want your listing agent to create a bidding war? You would think, YES. But instead,...
This guy suggests that the listing agent should skip the highest-and-best round, and instead, select the offer written by the buyer-agent that they think is most likely to close the deal - after trying to bump them another $5,000 or $10,000. I like to do the...
There are consumers who shop around for an agent. It's a practice that I strongly disagree with - I think you should just hire me 😆 - but some people insist. It provides an irresistible opportunity for agents to talk smack about other agents. This is what a...
It's just a matter of time before a big player brings the auction format to the residential resale market. These guys are in position - they are auctioning commercial properties, and with their sister company Homes.com wanting to be the #1 search portal, it would be a...
They are only three months into their mega-launch of Homes.com, and CoStar founder and president Andy Florance is already taking victory laps. He is also the #1 cheerleader for buyers going directly to the listing agent, which will be the end result of all the changes...
There is a new disrupter born every day! This one was created by a VC-backed appraisal company, so their gadget begins with a free appraisal to help determine the list price. Then they offer a little something for everyone - a week on the MLS for full exposure, then...
I mention how tough it is to find anyone who has a bidding-war strategy, but it's because our expectations rose dramatically in 2010 after witnessing one of the best of all-time. They were auctioning off a vacant lot owned by the City of Del Mar. This video starts at...
Once we raised the list price yesterday, the message spread quickly. I still had a good turnout at my open house - about half of the amount of attendees that I had on Friday - but many came just to ask why the price changed. Agents appreciated the transparency though,...
There is no guidance on how to effectively handle a bidding war. I don't see or hear anything from NAR, CAR, brokerage managers, or team leaders on how listing agents should handle a bidding war, other than to put the offers on a spreadsheet and let the seller decide....
