Monthly Archives: November 2014

Query: How much to overcome competing cash offers?

http://en.wikipedia.org/wiki/User_talk:Benjwong
http://en.wikipedia.org/wiki/User_talk:Benjwong

Q: How does the current San Francisco market trade off “all cash” offers with the value of a bid? In other words, if I anticipate competing with all-cash offers, by how much do I have to outbid them (all other contingencies waived and 20% down)?

A: The percentage will vary wildly depending on the particular players in any multiple-offer situation, so it’s something you really can’t quantify. And there’s always the chance that a savvy listing agent will issue simultaneous counteroffers at your higher price to the cash bidders — in order to maximize terms and price.

Go as high as you possibly can and hope for the best, because there will be a price where cash no longer “talks.” Another effective strategy is to carefully watch for listings that don’t sell in the first two weeks. The longer a property languishes on the market, the better your chances of being the only buyer. And this means a return to the good ol’ days of one-on-one negotiations.

Try to resist the validation of choice that competing offers bring: As in, “It must be a great place because 14 other buyers wanted it. Too bad we didn’t win.” If you DO prevail in a multiple-offer scenario, you can be pretty darn certain you overpaid by at least a little. And, of course, that’s okay in San Francisco because it’s only weeks before the market catches up to you.

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com. This answer originally appeared on Quora.

Query: “What is the best way to market luxury real estate?”

courtesy of Barclays Jewlers
courtesy of Barclay’s 

Q: What is the best way to market luxury real estate? 

A: Start by stopping use of the term “luxury.” Most luxury real estate buyers (in San Francisco) don’t think of themselves as such. They think of themselves as hipsters.

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com.

 

Competition not Comps

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Want to get from listed to pending to #sold fast & high? It’s about competition not comps. AND choosing the right agent. #SFRE

The Giants Won. So Can YOU!

Find an agent who'll champion your cause!
Find an agent who’ll champion your cause!

http://www.youtube.com/watch?v=UKiUnAOA9Tk

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com. This article was re-posted at McGuire.com.