I had 100+ people attend the open house today, which is a great response.
One of the attendees asked how I did it, and I said that I’ve been here before. When the market gets soft, you have to have both a good-looking property AND an attractive price.
Most of the houses you see for sale has one or the other. This property has both.
When buyers see an attractive listing online, they come running. I literally inputted this listing onto the MLS about 8:30 this morning. At noon we had three couples waiting.
There’s nothing wrong with the market – it’s fine! What’s wrong is your price or condition.
Jim, thanks for the content!
Parents letting their kids sit on a pool table – unreal, but I’m guessing you’ve seen worse. Come to think of it, would love to hear all the inconsiderate things you’ve seen at your open houses!
At the 2 minute mark you mention something about Redfin. I think you said, “Redfin, like they have a chance…”. What did you mean by that? I recommend clients to agents in my area so would love to know if there are reasons to dissuade them from using Redfin.
As a buyer, I always figured the best way to have an inside track on a hot property is to use the listing agent for representation. They double dip or at least get 4% and the listing agent has extra motivation to keep the deal together.
Come to think of it, would love to hear all the inconsiderate things you’ve seen at your open houses!
The lady who walked her dog into my open house a couple of weeks ago and didn’t even think of asking permission was one of the worst.
I am happy to give all agents a chance to compete, including Redfin. Their buyers were at the property for at least 30 minutes, so they are interested – so we’ll see.
But the way they represent their buyers is the problem. The ‘showing agent’ sends them to a different agent to write the offer – an agent who hasn’t seen the property; doesn’t know the comps; doesn’t recognize the urgency; and has no opinions or advise to assist the buyers.
They are order-takers.
“It’s listed for $869,000 – how much do you want to offer?”
“How about $825,000?”
“OK, coming over.”
Meanwhile I’ll be getting offers over list. Once a buyer puts their number on paper, it become real – and they will think the $825,000 is the value.
When they finally hear that there are multiple offers, and they have to pay over list to win, they will think they are paying too much.
It’s because they don’t Get Good Help that this one will slip by, and they will be back looking at standard bathrooms again next weekend.