This was in the confidential remarks of a listing priced at $870,000, and the agent is still has it in the active bin. Hopefully for his sake, it's in escrow by now! Alternative title for this blog post: How Many Flippers Are Out There?
We closed the escrow on Clemens today! Bidding wars can typically go up to 10% over the list price. Even a novice agent can pull it off just by having their listing on the open market. But buyers get jittery going any higher than +10% and without having a great agent...
Typically, buyers will bid up to 10% over the list price to win. If you really want it, go higher!
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...
This will probably be the day that the real estate world changes forever. It will end up being the day that more paperwork buried the participants, which we'll get through but it will take a few months before consumers get comfortable with it. I'd like to memorialize...
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...
This was going to be the big test. The controversial local brokerage in Los Altos was offering a measly $10,000 commission to the buyer-agents on their listings, most of which were $4,000,000 and up. They listed a similar house on a quiet street about a mile away for...
