Original asking price: $4,750,000
Sold price: $4,250,000
.
After being on the market for only 25 days, the owner of this #StudioCity home decided to accept a offer that was $500,000 below asking price.
.
Do you think the owner was too quick to accept such a low offer... or should the owner have kept the home on the market a little longer in hopes of getting more money?
.
Comment "accept" or "wait".
3 years' search for this Glendale home
The buyers of this #Glendale home had been searching for a property for 3 years.
.
Their agent put in several offers on their behalf, but they could not get the job done.
.
My past client and friend referred them over to me. The buyers came by my office in the morning for my "Buyer Orientation" meeting.
.
This is where I take them through the entire purchase process, from beginning to end.
.
In the afternoon I showed them 3 properties. They fell in love with one and immediately decided to put in an offer.
.
After a little negotiating with the seller, my clients got the home for $1,075,000. The sellers original asking price was $1,250,000.
.
3 years of searching with another agent... and in 1 day I found them their home.
.
I hate to toot my own horn... but... TOOT TOOT!
Most expensive home to sell in Burbank this week
Original asking price: $2,399,000
.
Sold price: $1,800,000
.
Is a backyard important to you?
.
This #Burbank home does not have much of a backyard and still demanded the million dollar price tag.
.
If a small yard is a dealbreaker for you, comment below "dealbreaker".
If you have a lot of showings for your home, but no offers, your priced too high
It's been 2 weeks. You have had a ton of showings, but no offers.... what's going on?
.
The good news is that your marketing is working. Buyers are walking in your front door (lets not minimize how difficult this task is).
.
The bad news is that by not putting in a offer, the buyers are telling you non verbally that your asking price is to high.
.
In other words, whatever you are offering is not worth your asking price, so they simply pass on it.
.
If you are in this situation, it's time to reevaluate your pricing strategy.
Your "Days On Market" should say "0"
Ask your agent to show you your MLS listing.
Make sure the "DOM" or “Days On Market” reflects the actual amount of time you have been on the market.
Make sure the first line that describes your property is bold and makes a statement
WARNING! People have short attention spans.
-You have to say bold words like "WARNING!" in order to get their attention (did it work on you? If your still reading, then yes!)
-If you don't capture them with the first line in your property description, they are gone forever.
-Make sure the first line that describes your property is bold and makes a statement.
Only 4 properties in Burbank have a marketing video
At my open houses I always ask "how did you hear about this home?"
-
If the buyer is under 35 years old, they usually say "Youtube or Facebook".
-
That means they saw the marketing video I made.
-
And since 50% of all buyers are under the age of 35, you need to pay attention to this fact.
-
If you want top dollar for your home, you MUST have a marketing video.
-
Make sure your real estate agent provides this service BEFORE hiring them.
How to know if a buyer can afford to purchase your property
If a buyer is submitting an offer on your home, you want to know if they can afford it right?
.
Here is what the buyer will turn in to you when they submit an offer:
.
-their purchase contract
.
-their pre approval letter from their lender
.
-their bank statement, AKA, their proof of funds
.
The last 2 will show you if they can get a loan and if they have the cash for the down payment.