Hat tip to Ryan the appraiser for his great tips on how to use comps today. It's a real problem when we have a hot 1st quarter and then sellers and listing agents want to use those comps for the rest of the year like they are hard facts on what a home is worth today:...
The somewhat-stagnant marketplace should get interesting in the second half of the year. Buyers will sense an opportunity to make aggressive offers, and they might waive all contingencies to help offset their lower price. Can they still cancel the deal later? Q. If a...
The takeaways from the graph above will be different for different people. Not suggested: Those who did negotiate probably didn't get much of a discount. Most buyers and sellers were satisfied their agent was worth it. Better agents are prevailing. Why is it important...
Nykia Wright, the CEO of the National Association of Realtors, said this week that she expects a $32 million drop in revenue next year. The NAR agent fee is $156 per year, so she must expect 205,128 realtors to retire/quit by 2026 - which would be about 15% of the...
Compass agent Ben Faber started a discussion: JtR: If you find a halfway-decent home, it will probably be in the first seven days it’s been on the market. It’s when the listing agent goes into full defensive mode and all communication turns vague because they are so...
These were my notes that expand on the previous blog post. This is the Market Lull. It’ll go for at least another month or two and for many it might last until January. Hardly anyone knows what to do. Buyers don’t mind waiting longer - they keep hoping that something...
Howard Hanna Real Estate Services is the largest family-owned-and-operated real estate brokerage in the United States with 15,000+ agents and staff in 471 offices. (Compass has 33,000+ agents and 400+ offices). Their owner feels the same way about the Clear...
J-Opp owns and runs a brokerage so he has to say buyer-broker agreements are mandatory, but the Coldwell Banker and two Compass agents aren't as committed. I think the buyers will prevail here and not be signing contracts with buyer-agents much until they find a house...
I saved the clip above from the Zillow ad of my Escondido listing. I appreciate them trying to do something to nudge buyers closer to making an offer. Their suggestions are just common sense - if you offer close to the list price, you'll probably get it! But I hate...
Buyers aren't crazy about signing a three-month contract just to see homes for sale - and neither are the buyer-agents. Every problem with home sales will get solved by cutting out the buyer-agent, even though it's bad for buyers....
