-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
;)
;)
Find MN real estate agents and Crosslake real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
4 Comments on Pricing Way Below Market Value To Create Traffic and Multiple Offers...WORKS!
We have a couple of agents who are doing this in our market. The agents have learned who they are and how they work. A surprisingly large number of agents are beginning to steer their clients away from these homes. I've also noticed that buyers get very upset. They have a hard time wrapping their minds around the fact that not only will they have to offer above list price....but they will have to offer significantly above list price. So far, my buyers aren't willing to play the game, but I continue to give them the choice.
Lina - I understand. This is the first I've seen this particular "strategy" in my marketplace. The buyer I'm representing may opt out as well. Thank you for the comment.
Darla - one factor in our area is the fact that neither one of these agents will speak with you on the phone. All offers must be faxed or emailed, and they will only communicate with you by fax or email. It is absolutely impossible to speak with a live agent. So, you have no way of knowing how many offers there are, or what the status of any offers are. Many times, I have written offers on these listings and called and emailed repeatedly over the next week to check the status of our offer, only to see the home show "under contract" in the MLS before I ever receive a response from the agent....IF the agent responds at all.
I think this concept would work better if you had the right listing agent. Otherwise, it is just perceived as "fishy" by agents and buyers alike.
Lina: In this case (actually two more came on the market today with the same strategy), the listing agent is local and has been around for a long time. She has a good reputation and is being very responsive to phone calls and questions. I previewed the other two that are new on the market today and traffic was heavy at both properties. It will be interesting to see how these play out.