Real Estate Feeding Frenzy

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

 

Feeding Frenzy Real Estate

 

 

Inventory is low, a shortage of homes on the market, and many more buyers are vying for the same properties.

Agents are reporting multiple showings at all times of the day and night. They allow appointments to be set up by Showing Time, a great service if used correctly.

This is where good real estate can make a difference. As a listing agent, I know who sees my properties, not a flood of showings using a lockbox from early morning until after dark.

Of course, we want to make it easy for agents to set online appointments, but I still personally confirm and contact the agent and meet them at the property.

 

Agents around the country say they have dozens of showings and multiple offers in the first few days.

Are they bragging or complaining?

Buying a house is not a marathon sport that has to be rushed to see who has the most activity.

No wonder everyone is so upset. Buyers literally fighting and feeling entitled to see and offer on every new listing.

Whoa!

Slow down. 

When a new home comes on the market, set times for it to be seen. Respect the owners, find out when it is convenient to show. Remember, they still are living there. Also, find out what the seller needs!

Maybe they don't want a quick closing and certainly do not want to be rushed.

Do they have a place to move to? 

Let your Realtor® help.

Staying in close contact with who is coming to see the house and when. What if they work from home as many do during these unusual times.  Do they need to leave every hour on the hour to accommodate buyers? 

Each listing is different. Each seller has different needs and concerns. Why are we treating them the same by placing lockboxes with access anytime?  

My properties are special, my clients are special, and they deserve the first-class service. Buyers and buyer's agents are also special and deserve respect. 

I will continue to contact my sellers, the buyer's agents and keep as many people as possible, including myself, calm in this wonderful, hectic time of real estate. 

If you like to talk about selling your home...

Call Margaret Rome 410 530 2400

 

Margaret Rome 410-530-2400

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Joe Jackson 01/26/2021 12:55 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Margaret:

Such wise words for all in your post, given the wild and crazy market. It's a tough time for buyers AND for sellers and we need to respect each other as we try to manage our clients needsas farily as possible. So many sellers work at home these days and it does complicate scheduling given the strong demand from buyers to get in to see homes as quickly as possible.

Jeff

Jan 31, 2021 02:53 PM #20
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I love this, Margaret - it's so you! Funny but, we are in an insane market here too - we HAVE to respond very quickly (when representing buyers). 

As both a buyers agent AND a listing agent, whichever side I'm on, I'm talking to the other agent - you'd better BELIEVE it! As the LA, I want to get a better feel of the buyer and their agent and the only way to do that is to actually SPEAK with them! Nowadays, it's even more important. When I have a hot listing hitting the market on Friday, I am on my phone, literally, all day long! It pays off for the sellers - they have the inside scoop by doing it that way. What is written in an email or text and in an Offer don't come anywhere NEAR getting a good, solid picture of that buyer & their agent!

GREAT post and of course we are like-minded!

Jan 31, 2021 07:00 PM #21
Rainmaker
326,799
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

The market is so strong with demand outstripping supply in Boise, Idaho that the feeding frenzy is about like an amimal stepping into a piranha infested river.

Feb 01, 2021 10:27 AM #22
Rainmaker
3,536,755
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Margaret well said, I always want to know what the seller's prefer in a fast market and when there are six to fifteen offers that could be the difference....Endre

Feb 04, 2021 10:20 PM #23
Rainmaker
1,049,821
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Spot on!  It's so nutty here right now!  And sometimes there's no rhyme or reason to what offer is accepted or how high they will go!

Feb 05, 2021 02:43 PM #24
Rainmaker
603,298
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

More and more I see sellers leaving for the weekend or have already moved out before they put their house on the market.  Those first couple of days are usually back to back showings.  I always appreciate the agents who respect and follow the showing instructions and give constructive feedback.

Feb 06, 2021 10:09 AM #25
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Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
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Kat Palmiotti,  Always happy to see you and your smiling face!

Feb 06, 2021 12:50 PM #26
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Margaret Rome Baltimore 410-530-2400
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Thanks, Kathy Streib, for the feature and for all you do here in the Rain for all of us!

Feb 06, 2021 12:51 PM #27
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Margaret Rome Baltimore 410-530-2400
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Thank you, Raymond Henson, SRES, GRI Always a pleasure to see you.

Feb 06, 2021 12:51 PM #28
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Grant Schneider, If only everyone could remain calm and be problem solvers...the world would be wonderful! :)

Feb 06, 2021 12:54 PM #29
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Chris Ann Cleland, Well said! It is up to us to help our sellers during these crazy times.

Feb 06, 2021 12:59 PM #30
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Jeff Dowler, CRS,

 It's a tough time for buyers AND sellers, and we need to respect each other as we try to manage our client's needs.

Feb 06, 2021 01:00 PM #31
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Debe Maxwell, CRS, I love your comment so much that it would make a good stand-alone blog. 

Feb 06, 2021 01:03 PM #32
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Jim Paulson, What we need to remember is this frenzy does not last and we will have to work with the same agents in all kinds of markets.

Feb 06, 2021 01:04 PM #33
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Endre Barath, Jr. We must know what our sellers prefer in any market!

Feb 06, 2021 01:06 PM #34
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Jan Green, Especially when it's this nutty out there..we do have to remain calm!

Feb 06, 2021 01:08 PM #35
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Mary Hutchison, SRES, ABR Our market is not that crazy but

'...I always appreciate the agents who respect and follow the showing instructions and give constructive feedback.''

Feb 06, 2021 01:09 PM #36
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thank you for the kind words. I just pulled it into Notes and will post it tomorrow! Thanks for the push, Margaret!

Feb 06, 2021 02:08 PM #37
Rainmaker
420,470
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Here in Santa Cruz County CA we have to follow the CA Assoc rules for showings which is no more than one agent and two buyers from the same household at a time.    Demand is so high that agents are using online appointment setters for vacant homes in 1/2 hour intervals, running well past dark.

Last week I wrote an offer for buyers, who offered as high over asking price as they could.    House got 24 offers.   That despite pest damage and standing water under the house.   Cash, no contingencies, quick close, normal buyers hardly have a chance here.

Feb 08, 2021 07:52 AM #38
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M.C. Dwyer I feel for you and the buyers. 

Feb 08, 2021 10:09 AM #39
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