Brokers!! What are you seeing out there???

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
I've lived in a country where this is the standard process.

1) The seller pays for an independent inspection report that is part of the offering / available to all.
2) There is a viewing day or days.
3) There is a day set for bidding. Usually I think noon on a Saturday. It's via text. Buyers are pre qualified with their details / mortgage info. I believe the timer resets with each bid to give everyone a chance to continue. It's around 15-30 minutes.

I like the process and transparency.
Hmm, kinda love this method
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
I see this working in a sellers market but not necessarily in a buyers market. You would need a lot of viewing days.
agree, sellers market helps a lot more, but even in buyers markets, if you underprice aggressively, you should get multiple offers and can apply the same flow. Still, I generally agree with you here on this, just wondering if case by case basis it could work in buyers market too effectively. Cheers
 

David Goldsmith

All Powerful Moderator
Staff member
One thing I am noticing is that sellers seem to be a lot quicker to lower their asks after putting units on the market, or accept offers at somewhat significantly below ask, rather than letting listings age too long as we've seen in the last few years pre-pandemic.
One example from today's email blasts:
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
One thing I am noticing is that sellers seem to be a lot quicker to lower their asks after putting units on the market, or accept offers at somewhat significantly below ask, rather than letting listings age too long as we've seen in the last few years pre-pandemic.
One example from today's email blasts:
This is a very good thing to see. My feelings are:
1. Perhaps agents are getting the message across to sellers that NOW is the time
2. Perhaps sellers see it for themselves?
3. Perhaps we are witnessing peak demand right now? John and I are starting to discuss this in weekly reports

Liquidity is off the charts. It lasts until it doesnt, and its never sustainable at these levels. Sellers should be aware of this, agents need to convey the right message, so sellers can ADAPT quickly and take advantage before leverage shifts
 
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