Hard to Play Real Estate Game When Rules Keep Changing
A new phenomenon is creeping into Denver that is posing an enormous problem for the 2020-plus buyers and sellers
Like a game of Whack-A-Mole at Chuck-E-Cheese, it would seem that every time one low inventory-fueled abnormality pops up, another takes its place just as we begin to wrap our heads around it.
Desperate buyers seeking to find a way, any way, to snuff out the competition seem to be cultivating creative ways of getting homes. The “love letter” and “love video” are old news as round trip tickets to Europe, season passes to sporting events and even personalized gifts are attempting to set homebuyers apart. While we’re seeing more and more of these efforts in our market these days, the new methods are beginning to challenge the very ways in which we do business – namely the pricing, appraisal and even marketing of homes.
Only a year ago, and for a great many years before that, when pricing a home, your REALTOR® could research comparables in any given neighborhood – analyze their marketing days, percentage of list price to that received and even pour through the commentary we as REALTORS® make accessible via our MLS.
Now, however, a new phenomenon is creeping in that is posing an enormous problem for the 2020-plus buyers and sellers; off-market sales.
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