Reply to SPRING MARKET!! What's the vibe?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Realtor here. Buyer activity is very high in Alexandria, Arlington, Falls Church, Springfield and Vienna. My last listing in Alexandria (FFX County) had 10 offers and went almost $100K over list, no contingencies and my clients got a free 2-month rent back. I wrote an offer for buyers for a home in Springfield last weekend and was beat out by another offer. There were 9 in total. My clients went $125K over list, waived all contingencies and offered a free rent-back. Both homes were in the $800K-1 million price point. I would also add that 30 percent of pending listings currently in my office were exclusive listings so they never even hit the mls. I have 2 buyers under contract in the $1.3m range and both those listings were private exclusive listings with Compass.[/quote]

Interesting re the 30% private exclusive. Do you see people list private exclusive to test the waters and see if anyone bites? As in they don’t have to sell but would for the right price?[/quote]

Yes, with listings, as soon as I have signed listing paperwork, I put the house on my broker pricing tour in my office and I put the listing in as a private exclusive. Both of these pre-marketing strategies are the best ways to get feedback on price and condition before going on the MLS without. I personally show the homes to my colleagues and their clients and I have found that most offers submitted during this stage tend to be more agressive in price and terms because the agents and clients recognize they are getting a valuable opportunity in that the house is not publicly available yet. It is often great for my clients because in many cases, they haven't even taken the steps to properly prepare the house for market or perhaps they have small children and don't want the inconvenience of tons of people through the house during nap times, after school or late at night. [/quote]

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