It’s Scary How Dangerous People Are With Data!
Coming across a well-armed Seller, he said he doesn’t need a real estate professional because he knows:
How to access MLS for comps, DOMs and stats on the market.
What his neighbors house sold for!
What homes are selling for in his area – in fact, “For the whole city!”
The average number of foreclosures and bank owned homes
Where to get and how to write a purchase contract
What title companies are suppose to do
What the interest rate is and what Buyers want
I say, GREAT! So tell me:
What were the cumulative days on market for your neighbor’s house? And was that with the first or the third real estate company? Did the seller make any concessions?
What percentage of the comps expired, had seller carry backs or lease options?
What is the median price per square foot?
What’s the current inventory level for your area, heck, for the whole city! And how does that impact the sale of your home?
What about the new construction home subdivision down the road – how does that impact the market?
What is the list to sales price ratio?
What version of contracts do you have and what are the deadlines for each?
Which costs do Buyers and Sellers customarily pay for at close?
And the list could go on!
People are dangerous with data because most of the time, they really don’t know what to do with it – when they have it.
Be educated. But keep in mind, the data also shows – experience is everything.
