Why Is That Listing $1?
The Seller Wants A Bidding War A $1 dollar list price is the most direct way for the seller to inform buyers they want an auction and attract as many buyers as possible. The seller might believe there is a strong correlation with the number of offers and the sale price. The Listing Agent Strategy It’s much easier if you can convince a seller to ‘under-list’ a property well under market value and hold an auction. You don’t have to go through the exercise of proving your ability to appraise the value of the property. You can let buyers do it for you.Your Relationship With Your Buyers Agent Is Tested In these scenarios, it doesn’t really feel like the listing […]