How Fast Is Fast In Real Estate?
Posted on May 19th, 2009 by Kevin McGrathTodays real estate market, at least here in Fredericksburg VA, is moving along at a pretty good clip. We put a home on the market Friday, and by Monday we had 10 offers. 4 of them were cash.
The next step was to get the Highest & Best offer from each potential buyer; this is pretty standard practice when selling a bank foreclosure.
We sent out the request via email, and the responses started pouring in. 7 of them. Still missing 3. Being a nice guy, I call. First agent - they were “at their job” and had not checked their email. Second agent - had not been into the office yet to check their email. Oh - this was at 4:00 PM. Third agent - no answer - I never got a call back.
So out of the 10 offers received, we get 7 responses. 3 agents - cut out right away. Missed their chance. Oh, wait a minute. It was not their chance. It was their clients chance. Their client is the one who lost. Wrote a contract on a house, and got kicked out. All because they did not answer their phone or check their email.
Todays real estate market moves in minutes, not in hours, and certainly not in days. The agent that does not have a smart phone to get email, or has “a job” and only does real estate part time is at a severe disadvantage. Their client may find themselves in an even worse position. They may lose out on a house.
Kevin McGrath - Broker Owner
Tags: Buying a Home, Foreclosures
