Who Knows?



I’ve been a realtor around here for 23 years. In many ways I have a clue. I have a bunch of experience actually and that’s quite often helpful to my clients. I know a whole lot of other experienced agents around these parts too and they have sort of a clue as well. Wouldn’t you think that experience would count for something? I’m joking around here…for the most part. What’s confounding me lately is knowing what to tell a buyer about what to offer in a multiple offer scenario. I have to tell you the truth. Most of the time I really have no clue. You know what else? I don’t really know ANYBODY that really does either. I heard one agent say that you just pick a dollar amount that seems really preposterous…and then DOUBLE IT. I’m not sure if he was joking or not?

A couple of weeks ago I advised some clients that the 2 bedroom, 1 bath house on the 16,000 sq ft lot on Devonshire in San Carlos. It was listed for $998,000. I thought it would go way over asking and told them my bet was $1,250,000. My clients were afraid of going that high so we wrote a lower offer. The house sold for $1,630,000…cash. Go figure! A couple of days ago a large 3 bedroom house on Bennington on San Mateo came up listed for $1,495,000. It was a big house though…so what if nothing has sold up there EVER for anywhere near that price. It ended up selling for $1,625,000…cash. Again.

I myself had a little 2 bedroom, 1 bath listing on Sylvan in San Carlos a few weeks ago. The most money ever spent for this floorplan? $725,000…and that was a month ago! We got $787,000. Again…go figure! Is there a point? Who knows is the point. that joke my coworker made is pretty much true. Think of a really ridiculous offer price…and double it!

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