THIS MONTH
Understanding Your Leverage in a Spring Market
This month, I submitted an amazing offer on behalf of my buyers - $10K over the asking price with 31 extra rent-free days after closing. Even with an outstanding price and generous terms, we didn’t get our offer accepted. I believe a $20K+ over asking offer won the listing, but I stood behind what my clients were comfortable with and am confident the perfect home will come. This situation just goes to show you, the spring market is in full bloom! In fact, inventory is the lowest we've seen it since June of last year. We're currently at 2.2 months of inventory with total time on market down to 68 days. Homes at or below the $500K price point are selling fast, often with multiple offers on the table - I've seen this in my own business as well, with 3 offers in the last week on new listings - two of them for homes that had been on the market less than a week. Some east side homes have inspired bidding wars up to $50K over asking. The reality is, interest rates are low, giving buyers the leverage to afford more home for their money. But with not many homes to choose from, competition is heating up, so if you’re thinking about selling, this is an excellent time to throw your hat in the ring while selection is low and buyers are motivated.
NEWS
"I'm considering working with a low commission broker? Should I do it?"
I recently competed for a listing with a discount broker (an agent who accepts less than the industry standard for commission). This agent advised my clients to list their home at $385K, stating that $399 would be pushing market value. After the clients decided to work with me, we ended up listing their home at just under $410K, with an incredible offer accepted the FIRST WEEKEND. My clients ended up netting THOUSANDS MORE on their home - despite paying a larger commission fee. This is something that's extremely important to remember as your interviewing agents. Ask questions and make sure your agent is educated and willing to work hard for you - that means not leaving any money on the table and backing their price suggestions with stats and experience!
GROWTH
Do you want new listing notifications? Send me a message and let me know!
I’m excited to announce Logan Gerritz Realty Group is currently operating at its highest listing capacity in history, wow! I’m so grateful for your trust and referrals. Now I’d like to ask your opinion. Would it be valuable to get notifications on my new listings when they hit the market in case you know someone who might be a good fit? I'm all about keeping you informed, but don't want you to feel bombarded. If you do want to receive listing notifications from me, just shoot me an email at logangerritz@gmail.com and I'll add you to the list!
INSPIRATION WITH LOGAN GERRITZ
How Being Vulnerable Opens the Door to Healing
This month, I want to encourage each of you to practice honesty and vulnerability with the people in your life. If you’ve recently felt hurt by something a team member, friend, or family member said or did, rather than keeping it bottled up, I’d like to challenge you to have an open conversation with the person who hurt your feelings. Often times, when we hurt others, it’s not out of malice or disrespect, it’s simply because we don’t have the same emotional reality as the other person. This means, while something might not hurt our feelings, it may be hurtful to others. More often than not, this works in the opposite way as well. By being open about how someone in your life has upset you, without being angry or judgmental, a doorway to resolution and peace of mind is opened. By lovingly communicating with the people around us, we give them the chance to understand us better and strengthen our own ability to be vulnerable with others and pave the way for healing. I hope you have a wonderful few weeks of growth and love ahead and enjoy the lovely spring weather!
