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MY NEW REAL ESTATE TERM -- "PARKED BUYERS"

By Pat & Steve Pribisko

Real Estate Agent with Keller Williams Greater Cleveland West

February 06, 2013 05:01 AM

In Northeast, OH (the Greater Cleveland Area), we have a shortage of homes to buy at most price points. That means we are in a sellers market. Let me write that again. WE ARE IN A SELLERS MARKET. Who knew that we would have low home inventory now? I'd say no one.

So, this is my current problem, the problem for me and my partner (and husband), is that we have a number of buyers, at various price points, who have seen every home available in their price range and in the cities of their choice. And, some of them have been "bruised" by losing a multiple offer situation.... We Need to Buy a Home!

So what can they do? Now, this is a bit exaggerated But, some of our buyers want to see a newly listed home as soon as it hits the market. So, I envision them as sitting in their parked cars, waiting to hear that there is a newly listed home to see. So, seriously, I now refer to those clients as our "Parked Buyers."

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Suzanne McLaughlin

Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN

Sabinske & Associates, Realtor

Very well put! And, a great idea. I have suggested this one. Best of luck to you and your buyers.

Feb 06, 2013 05:03 AM

Scott Nowling

Prudential Starck - Saint Charles, IL

Prudential Starck

Maybe you use those parked to create listing opportunities...?

Feb 06, 2013 05:33 AM

By telling would-be sellers that you've got people ready and you're not the only agent in that spot....

Feb 06, 2013 05:35 AM

David Grbich

Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA

Orange County Real Estate - 949-500-0484

I like the term and it may be literally true as well. This parking lots is getting full and we need more sellers!! Regards Dave

Feb 06, 2013 07:55 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

I have started sending out postcards to designated neighborhoods and knocking on doors to get new listings. This way my buyers do not have to participate in bidding wars. Good Luck!

Feb 06, 2013 09:56 PM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Pat & Steve, It's not just in your corner of Ohio! I have a set of buyers where we've exhausted the inventory that fits them. Now we're just waiting on the new ones and the typical spring blitz of properties.

Feb 07, 2013 04:08 AM

Pat & Steve Pribisko

Keller Williams Greater Cleveland West - Westlake, OH

Suzanne: Thank you for your kind words and the "suggest."

Scott: I agree that I shoud be telling Sellers that I have Buyers waiting on new listings, as well as other Realtors.

Dave: I'm glad you like the term and hope your parking lot doesn't get too full before your sellers start listing.

Joan: Thanks for your comment. And, good luck with your postcards and knocking on doors, so you will miss those Parked Buyers.

Liz and Bill: I, too, am waiting for the spring blitz of properties.

Feb 10, 2013 03:20 AM

Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

I'm looking forward to a Seller's Market in Tallahassee. But not yet...

Best wishes to your Parked Buyers!

Feb 10, 2013 09:56 AM

Fred: Thanks so much for your comments.

Feb 10, 2013 09:30 PM

Roy Kelley

Retired - Gaithersburg, MD

We have the same situation in the suburban Maryland market. Agents are asking others in the office to let them know first when a new listing is obtained. Our multiple listing service requires that new listings be posted within 24 hours. That does allow time to share the information with others in the office.

Feb 13, 2013 02:46 AM

Roy, thanks for your comment. Last year at this time, we had a buyers market. And, now, a sellers market with very limited inventory. I wonder what's next?

Feb 13, 2013 06:51 AM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Hello Pat and Steve -- and in many cases not only are they parked -- there is double and triple parking taking place in many communities. In our market, the first opportunity to see a newly listed home is at an open house or broker caravan tour day --- and the people are lining up --- some buyers even recognize each other!

Feb 18, 2013 01:49 AM

Michael, thank you for your comments. Yes, we are also seeing multiple bids when a "good" homes comes on the market.

Feb 18, 2013 05:37 AM

MY NEW REAL ESTATE TERM -- "PARKED BUYERS"

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