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Open House Wrap

Huge turnout for my open house – more than 70 people!

There were four open houses in the neighborhood each day, so the buyers were able to make plenty of comparisons. My guess? The two homes offering the best values will sell this week!

Avoiding A Price War

My new listing at 3534 Avenida Sierra, priced at $1,395,000, is one of six for sale in Lomas Serenas – four of which have listed in the last week.  When you have a competition like this, you want to be the first one to sell and avoid a potential price war which could erupt in 30-60 days if the market doesn’t respond.

We will be back for open house today, 12-3pm!

Open Houses Are Complete

We have three more showings today and then almost 200 people will have seen the house since Friday! Next we will engage in open bidding by phone with all interested parties and let the MARKET decide the winner, not the listing agent (which is how everyone else does it).

Here’s a buyer-agent strategy that can be really effective, especially with weaker listing agents:

Saturday Report

There’s nothing wrong with a normal market – just because it’s not as insane everywhere as it was six months ago doesn’t mean it’s not a steady strong regular market that benefits everyone:

Offer Accepted; Cancel Open Houses

Two reasons to cancel open house if an offer gets accepted that day (which locks the seller to this buyer):

1) Buyer’s remorse sets in immediately, so it keeps the buyers happier because I’m committing to them and they don’t feel like I’m shopping their deal around, and

2) Keeps open house attendees from resenting the tease of seeing the house but not being able to buy it.

It is sensitive, and I can see why many agents go ahead with their open houses in order to get more leads and potentially a backup offer – but they risk tipping over the buyers. We already saw how easy the last buyers cancelled, so I don’t want to shoot myself in the foot.

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