You can spend $30,000 on an open house, but the price still has to be right: Read the full article here: http://www.wsj.com/articles/the-open-house-goes-over-the-top-1424969962
House Parties
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Listing Agent Practices
Lots of Showings, But…
The demand is strong enough that every seller is getting a few looks, especially in the beginning. Hopefully your agent has your listing on Zillow, but even if they don't, buyers are going there to evaluate. You'll see their viewer count of your home is rising, and...
Negotiations
The MLB winter meetings are in San Diego this week, and Ned Colletti, the former GM of the Los Angeles Dodgers got rolling about negotiating contracts around the 8:00-minute mark. He mentioned knowing what to expect from the agents - it's good to know which agents...
COE + 3
Realtors tend to use industry jargon in their contracts, and regularly you'll see the term, 'COE + 3' in a counter-offer coming back from a seller. It means they get to occupy the home for three more days after the close-of-escrow date, at no charge - and usually no...
Variable-Rate Commission
A listing that just closed escrow had this in the confidential remarks: Seller will pay 6% commission if property is sold at $735,000 or higher; seller will pay 5% if property is sold for less than $735,000 - commission to be split 50/50 between listing and selling...
Roller Coaster Open House
‘Motivated’
The phrase 'motivated seller' is one you see on many listings these days. It used to mean that the seller had a compelling reason to move, and needed to sell promptly - and as a result, would consider all offers. But this is a new day in real estate. Today you see...
Why Sell Early
Sellers expect their listing agent to toil for weeks and months searching for the right buyer for their home. Let's face it, that's how other jobs work - the desired result comes at the end of the effort. But it's the opposite when selling a house. The tight...
NAR Convention
The NAR convention starts tomorrow in New Orleans, and for those who would like a preview - and want a peek behind the NAR curtain - read this great post by the Notorious Rob: http://www.notorious-rob.com/2014/11/04/things-to-watch-for-at-nar-new-orleans/
Big Box vs. Independents
Though I speculate in this video that buyer agents will get phased out, it's not the best alternative - buyers should have representation, it is just a matter of cost/quality. In this futuristic scenario, the listing agent will only be representing the seller, and...
