{"id":16640,"date":"2020-08-22T08:50:15","date_gmt":"2020-08-22T15:50:15","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=16640"},"modified":"2020-09-07T06:56:36","modified_gmt":"2020-09-07T13:56:36","slug":"ask-the-broker-are-buyers-really-willing-to-overpay-in-this-market","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16640\/ask-the-broker-are-buyers-really-willing-to-overpay-in-this-market\/","title":{"rendered":"Ask the Broker: Are buyers really willing to overpay in this\u00a0market?"},"content":{"rendered":"

\"\"

I have Arizona’s Unobtainium: An unpublicized home for sale.<\/p><\/div>I’m always happy to brag about my listing prowess, and I could not be more delighted to have gotten this question in yesterday’s email. But: Even so: This is how I sell homes faster for more money.<\/p>\n

So: A client and I are working out the details for a home that will list on October 8th, and he asked the Ask the Broker question: \u201cAre buyers really willing to overpay in this market?\u201d<\/p>\n

In suburban Phoenix? Only the ones who want to buy houses. We’ve been strong since 2014 and before, very strong this year before the pandemic, strong throughout \u2013 and all the while we are benefitting hugely from the exodus from other states.<\/p>\n

This was my answer to my investor client:<\/p>\n

Almost everything I have sold in the past five years has sold with multiple offers, most over list, many for cash. My last listing sold the day before it was to go into the MLS, so that’s not a fair test. My last lease had many applications and the winners paid the full year’s rent in advance.<\/p>\n

Things will change in the time we have to wait, but we still should have strong demand. We will have to appraise for financed offers, but if we get lucky, we’ll get cash buyers or waived appraisal contingencies. Not all buyers are equal in their appeal, but the poorly-qualified offers come in high, which is useful for torquing the better-qualified players.<\/p>\n

We list on Thursday morning, just after midnight, to capitalize on the search-bot instigated weekend showings. I disclose the state of play on all offers in the private remarks in the listings, so agents always know where they stand. We want the highest\/safest\/soonest closing, but among highly-comparable well-qualified offers, we want to know who wants it more.<\/p>\n

Like this, just explicit, transparent arm-twisting that only the agents can see:<\/p>\n

Available, go and show. Priced to market. Priced to move. Seller to review offers Monday night. The state of play on offers will be documented here, as they come in. Don’t dawdle: This home should sell fast. Read more<\/a><\/p><\/blockquote>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

I have Arizona’s Unobtainium: An unpublicized home for sale.I’m always happy to brag about my listing prowess, and I could not be more delighted to have gotten this question in yesterday’s email. But: Even so: This is how I sell homes faster for more money. So: A client and I are working out the details […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,10],"tags":[],"class_list":{"0":"post-16640","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-ask-the-broker","7":"category-real-estate","8":"category-realty-reality","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1242,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1242\/ask-the-broker-says-ask-the-audience-is-now-the-time-to-jump-into-the-housing-market\/","url_meta":{"origin":16640,"position":0},"title":"Ask the Broker says: Ask the audience: Is now the time to jump into the housing market?","author":"Greg Swann","date":"March 31, 2007","format":false,"excerpt":"This came in as an \"Ask the Broker\" question, but it's really a wide open pitch for any informed observer. (That would be you.)So should second-home buyers buy now, or wait? Will lending rates go lower soon? Or is this the time to strike?Have at it, if you like, but\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17511,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17511\/overnight-news-is-the-incumbent-is-now-the-real-estate-broker-elect-market-swing-threatens-overdue-shellacking-for-doe-eyed-ibuyers\/","url_meta":{"origin":16640,"position":1},"title":"Overnight News: Is \u201cThe Incumbent\u201d now the Real Estate Broker-Elect? Market swing threatens overdue shellacking for doe-eyed\u00a0iBuyers.","author":"Greg Swann","date":"November 22, 2020","format":false,"excerpt":"Seen any commercial TV lately? Have you spotted ads from local real estate vendors offering to make cash offers for homes \u2013 right now, on the spot, in any condition? \"That's not really iBuying!\" the iBuyers will shout \u2013 and it's true. It's flipping Homevestors.com-style \u2013 Ug's uglier offspring. What\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":509,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/509\/ask-the-broker-is-a-buyers-agent-like-a-bad-penny\/","url_meta":{"origin":16640,"position":2},"title":"Ask the Broker: Is a Buyer’s Agent like a bad penny . . . ?","author":"Greg Swann","date":"October 4, 2006","format":false,"excerpt":"When is a Buyer Broker Agreement abrogated, anyway?Is there a law stating that once your contract with your realtor is up that you must include them on the deal of the purchase of a home that they showed you?No such law. Feeling relieved? You can stop that right now. For,\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1439,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1439\/ask-the-broker-discrimination\/","url_meta":{"origin":16640,"position":3},"title":"Ask The Broker — Discrimination based on price range?","author":"Jeff Brown","date":"May 16, 2007","format":false,"excerpt":"Can a prospective buyer be discriminated against because of the price range of home they are looking to purchase? For example I feel that an agent I recently visited would not help me because I was looking for a low-priced home. I am a young, single, first-time home buyer and\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1999,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1999\/ask-the-broker-how-can-the-seller-paying-the-buyers-brokers-commission-be-fair-to-the-seller\/","url_meta":{"origin":16640,"position":4},"title":"Ask the Broker: How can the seller paying the buyer’s broker’s commission be fair to the seller?","author":"Greg Swann","date":"October 3, 2007","format":false,"excerpt":"Here's a truly fascinating question from an agent working in Nassau County, Long Island, New York. The idea of buyer brokerage is just being introduced there, and our interlocutor is understandably mystified:I am a bit confused, to say the very least. If I write up a listing contract with a\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":725,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/725\/ask-the-broker-are-new-build-prices-negotiable\/","url_meta":{"origin":16640,"position":5},"title":"Ask the Broker: Are new build prices negotiable?","author":"Greg Swann","date":"December 1, 2006","format":false,"excerpt":"When purchasing a home or condo in a new development are the prices quoted firm or can the buyer negotiate the selling price with the broker? Are the costs of \"upgrade options\" negotiable.The definitive answer: Maybe. New home sales is a retail business. The builder has to move current inventory\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=16640"}],"version-history":[{"count":13,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16640\/revisions"}],"predecessor-version":[{"id":16926,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16640\/revisions\/16926"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=16640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=16640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=16640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}