Weekly market update from broker Keith Gordon - June 23, 2014
The news at ADDvantage and GetMoreOffers is much improved this week as call volume improved to 70% of total capacity from 50% in previous weeks. (Our typical capacity is between 50% and 120%, 120% occurs when we are pushing our resources beyond a reasonable capacity and call volume is off the charts). The low of the year was March 15- June 1, 2014 at 50%). As well, contract volume spiked considerably. Between Wednesday and Saturday, 12 PRO customers pended (under-contract) as well as 4 basic listings. 8 PRO listings remain “in-play” as of Saturday (offers in negotiations) while I never know exactly how many un-represented sellers are in play until they pend on our site. Low-ball offers are still problematic as buyers and agents are attempting to take advantage of vulnerable sellers, pressuring them to take ridiculous offers with untenable contingencies such as the sale of another home that is not even of the market. Overall, a good week at ADDvantage and I expect things to accelerate next week. For those of you who are not getting a lot of showings right now, keep in mind, they typical days on market (DOM) at ADDvantage is an average of 66 days. Industry standard is over 100 days. We believe this impressive statistic is due to our Sellers' ability to price better by saving in commissions, our unprecedented customer service and live phone support, and my ability to vet buyers and close deals for PRO customers quickly and effectively.
Tip of the week:
Should sellers and buyers make friends during a transaction?
Not until you close. It should be business only. One party is moving in and one party is moving out. It's much better to let the agents handle things and serve as a buffer in order to keep emotions at bay between the buyer(s) and seller(s).
Dear Keith and the Addvantage Realty Team at GetMoreOffers.com,
We are so pleased and thrilled with what you have done and provided for us using your Pro Plan and Pro Team services. The first thing that grabbed my wife's and my attention was that you guys are human, and answer the phone. Before choosing you, we compared some of the other major flat-fee MLS listing companies, and they had an awful first-impression when we would get some automated computer program which answered the phone. Human communication is huge, and you guys were always cheerful and professional every time we spoke.
Using your advice and follow-through we not only saved big bucks ($21,000), we gained an additional $32,000 because of the way you marketed and negotiated our deal. This is all in the face of the appraisal for our home being more than $100,000 under the contract price.
In effect you put an additional $53,000 in our pockets between savings and a higher negotiated contract price; wow!
The way you have approached this business is nothing short of amazing. Some of the traditional realtors that we interviewed before choosing GetMoreOffers.com told us stuff that turned out not to be good advice; such as the roof won't fly because it only has 2 years of life left, and the paint is old so that would really limit your deal unless you throw in concessions. Well, even though those items came up, with Keith's advice we held strong, and Keith negotiated for us and kept the pre-inspection contract price without concessions. Thank you Keith. Most other traditional realtors would not have dared and try to negotiate without concessions; I know, as as I have talked to several realtors that just "don't get it."
One of the really awesome concepts with the GetMoreOffers.com web access is it made everything as transparent as we wanted; we turned on all of the information feeds so we 1) knew in advance what realtor was coming and could call and talk to the realtor before they showed up with a potential buyer, 2) we could see the offers on line as soon as they came in, 3) we could block out or block in times that the house would be available... just to name a few. In summary such an easy system to use.
Thank you again, Keith and Addvantage realty team!
Jun 22, 2014
Sold Price: $765,000 • Days on Market: 10 • Commission Amount Saved: $20,540*
It's experiences like these that encourage me to keep doing what I do and strive to get this kind of success for each and every customer. Thank you again for choosing ADDvantage and GetMoreOffers to sell your home. If you have any questions, don't hesitate to contact the office at 877-232-9695.