“Coming Soon! 4 BR/3 BA Linden Hills 2-Story in Move-in Condition. Price: $500-ish”

Pre-List Networking Trial Balloon

I’ve been in real estate sales for 18 years, and I still have no idea what a “$500-ish” price is.

$520k, perhaps?

Maybe $485k?

In truth, I can imagine a “$500-ish” price falling anywhere between $480k – $530k.

Buyer Trap?

Which is no doubt precisely the point, especially in an ongoing Seller’s market characterized by too-little inventory, especially at lower price points.

Namely, for the listing agent (representing the Seller) to flush out the most motivated, deep-pocketed Buyers before the home officially debuts on the market, during the so-called pre-list networking phase.

The catch for would-be Buyers?

A fuzzy asking price can easily devolve into Buyers negotiating against themselves.

Which is why my standard counsel in such situations is to wait for the Seller to commit to a firm asking price before checking out the home.

P.S.: So, what does a Buyer offer for a home asking “$500-ish?”

My suggestion: “$400-ish.”

See also, ““Lake Nokomis-y” vs. “Lake Harriet-ish”.”



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