Saved by a Snow Squall and How the Market Melted it All Away
Where were you Tuesday morning? Wasn't that snow squall something? We woke up with no snow on the ground and no flurries in the air. By 10:00 AM most of the Metro Area was enveloped in a fast-moving snow squall that made it look like a February Christmas in less than 2 hours. The snow stuck to the streets and people were caught in whiteout conditions. Yet by noon in many areas, blue skies were peaking out again. Let me tell you how that little snow squall saved an opportunity for some homebuyers I worked with earlier this week. This past Monday, I had the opportunity to work with buyers in from out of town. Often, when a buyer comes into town we have a compressed amount of time to see properties. To my surprise, we were able to find twelve homes in their price range so we squeezed that into a long afternoon. Normally, I recommend not seeing more than 6 to 8 properties at any one time. It allows for processing what you've seen and not have the homes blend into one in your mind. In this case, however, it made sense to see the best of what was available since they had a plane to catch the following morning. Weekends are typically the busiest for showings. More buyers than not are most often available on the weekends. Showing homes on a Monday, when the market is heating up, can sometimes lead to missed opportunities when the best properties begin to go under contract after a good weekend of showings. This past Monday was no exception, though it was still February. By the time we began our tour of those twelve properties, I had already received phone calls from listing agents saying their sellers had begun considering or even accepting offers. At 12:30 PM that had already occurred on two. Later that afternoon I received another couple of calls from agents saying we could show their listings but they too were accepting an offer and going under contract. By the time our afternoon ended, we were able to see 8 of the initial 12; the other four were under contract. My buyers loved two of the eight we saw. They wanted to sleep on their decision, which is always a good idea, when you have the time. They also had a flight to catch Tuesday morning which took off just before the snow squall the hit the Denver Area. By the time they landed home another 3 had gone under contract! Finally, Tuesday afternoon, my buyers had narrowed their search to one specific property. Good thing, because the other one they liked went under contract next. We prepared to make an offer, all the while staying close and aware of the action all around us on their favorite listings. The dominos were falling. My buyers began to waffle a bit wondering why the property they were considering making an offer on hadn't gone under contract already. Were they missing something? Was this property really as good as it seemed? After all, we all agreed, it was hands down, the best property we toured on Monday. So why were they so fortunate to have their favorite still available? Hadn't anyone else loved that same property? All along I had been communicating with the listing agent. They had indeed, received offers. In fact, the first offer, before we showed it, had come in with a protracted closing date. The sellers simply weren't interested in waiting that long. A second offer had been presented, but the agent who presented the offer turned out to be so aggressively difficult the sellers chose not to work with his buyers. He blew it for them. That's another story for another day. Then the snow squall blew in Tuesday morning and the listing agent said that three buyers had canceled their showings. Only one showing still stood, scheduled for early evening. We ended up being the third offer. We offered just before noon on Tuesday and set an acceptance deadline of 6:00 PM that same day knowing there was that other showing at 4:45 PM--just enough time for someone to sneak in and make an offer to compete with ours, though it would be tight. But what were the chances they too would love the property? Apparently pretty high becuase they did, in fact, try to get an offer in before our Acceptance Deadline. At 5:56 PM the sellers signed our offer and the other folks missed out. This listing had in fact, received 4 offers in 48 hours! I share this story because it's a real life scenario of what's going on in some areas of our local market. People are ready to move this spring. These homes were priced between $740,000-840,000. The same price range that struggled to move last fall when mortgage rates blew past 8 percent. In the end, we were saved by a snow squall and the market seems to have melted all the snow away…just in time for another not-quite-spring weekend. What happens later this spring…or if rates were to fall?
Read MoreThe Altitude Group Press Release: Matt Thomas Earns SRS Designation
The Altitude Group Press Release Matt Thomas Earns SRS Desigation Denver, Colorado, July 20, 2023: Matt Thomas, The Altitude Group, is now an accdredited SRS (Seller Representative Specialist) designee. Designed to elevate professional standards, enhance personal performance, and provide even more thorough suite of services for home-selling clients, the SRS is the premiere credential in seller representation. It's awarded to real estate professionals to real estate practitioners by the Real Estate Business Institute (REBI) who demonstrate the knowledge and skills essential for seller advocacy who meet specific educational and practical experience criteria. SRS designees represent a global community of real estate professionals who use their advanced training and expertise to meet and exceed client expectations. When it comes to navigating the world of real estate, having a skilled and knowledgeable agent by your side can make all the difference. Among the sea of professionals in the industry, those with the esteemed SRS designation possess a unique set of skills and expertise that can significantly enhance your real estate experience. In this post, we'll delve into the benefits of working with an agent who holds the SRS designation and why it can be a game-changer for homebuyers and homesellers alike. SRS Agents Learn To: Increase breadth of their business and how to grow it Demonstrate and communicate their value package to potential clients Understand and apply the Code of Ethics & Standards of Practice Understand and comply with state license laws when representing sellers Understand and apply methods, tools, and techniques to provide support and services that sellers want and need What You Gain Working with an SRS Agent The SRS Course will redefine your "normal" and reinvent the way you represent sellers. It provides a comprehensive foundation of skill development, training and resources to help real estate professionals represent the interests of sellers in today’s marketplace. Specialized Knowledge and Expertise Agents with the SRS designation have completed rigorous training and demonstrated a high level of proficiency in representing sellers. This designation signifies to homesellers that the agent has the expertise to guide them through every step of the selling process, from pricing and marketing strategies, to negotiations and closing the transaction. Their specialized knowledge equips them to handle the complexities of real estate transactions, providing valuable insights and advice that can help homesellers achieve optimal outcomes. Effective Pricing and Marketing Strategies Determining the right listing price is crucial for attracting potential buyers and maximizing the value of your property. An SRS-designated agent possesses an in-depth understanding of market trends and can conduct a thorough analysis to help you price your home competitively. Additionally, they excel in developing tailored marketing strategies to showcase your property's unique features, leveraging their expertise to reach a wide range of potential buyers through various channels, including online platforms, social media, and local networks. Skilled Negotiators Negotiations play a vital role in real estate transactions, and having a skilled negotiator in your corner can make a substantial difference in achieving your desired outcomes. SRS-designated agents are trained to represent sellers' interests effectively, employing their expertise to negotiate favorable terms and conditions. Whether it's negotiating the sale price, contingencies, or repairs, their ability to navigate complex negotiations can help you secure the best deal possible. Enhanced Transaction Management The process of selling a property involves numerous steps, paperwork, and deadlines. An agent with an SRS designation excels in transaction management, ensuring that every aspect of the selling process is handled efficiently and effectively. They can help you navigate through the paperwork, coordinate with other professionals involved in the transaction (e.g., inspectors, appraisers, attorneys), and keep track of critical deadlines, minimizing the potential for errors or delays. Professional Network and Resources Agents with an SRS designation often have an extensive network of professionals in the real estate industry. They can tap into their connections to provide you with access to reliable resources, such as home stagers, photographers, mortgage brokers, title companies plus a wide array of contractors and vendors. This network can be invaluable in ensuring a smooth and successful selling experience. Bottom Line When embarking on the journey of selling your property, enlisting the services of an agent with an SRS designation can offer you a competitive edge. Their specialized knowledge, effective pricing and marketing strategies, negotiation skills, transaction management expertise, and professional network are all valuable assets that can help you achieve your real estate goals. By choosing an agent with the SRS designation, you'll benefit from their unwavering commitment to excellence and dedication to ensuring a successful and rewarding selling experience. Reach out now (303) 269-1617 to start a conversation about how Matt can help you navigate today's market conditions.
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Are negotiation skills important in your real estate professional? You bet they are. Buying or selling a home can be a very emotional experience. There are multiple parties, conflicting interests and myriad issues that make a simple negotiation complex. In choosing your real estate professional, there is one factor to consider above all others: How well can your real estate professional negotiate on your behalf? You set the terms and conditions for your agent to achieve. It is then up to your agent to use all of his/her negotiating strategies to persuade the other side to accept your terms. Therefore, you need to be certain that your agent has the skills to effectively persuade and influence the other party. Since real estate negotiations include many different people and issues, it is always in your best interest to hire an agent specifically trained to handle the complexities associated with this negotiation process. An agent who carries the MCNE designation has been trained in professional negotiation tactics by the Real Estate Negotiation Institute, the leading negotiation training and coaching company for real estate professionals in the world. An MCNE professional knows how to use leading edge negotiation strategies and techniques for your benefit. You can be confident that an MCNE professional will achieve the best results for sellers. Here are some of the benefits you can expect when you hire a MCNE agent: – A more confident, professional approach to your negotiations – Strategic planning of your negotiations – Stronger ability to resolve conflicts with all types of negotiators – Faster sales cycle that means fewer days on the market – Higher net profit – Less stress and inconvenience – Better results and greater satisfaction Questions to Ask Your Real Estate Professional: When interviewing a potential real estate professional you should ask questions about their negotiation training and approach. Since they will negotiate with your money, it is important to understand how they view the process. – What professional negotiation training courses have you taken? – What do you do differently from other negotiators? – What negotiation planning system do you use? – What information will you use in our real estate negotiation and how do you get it? – How will you help me determine my options? – How will you persuade or influence the other side to accept my terms? – How will you avoid deadlocks? – What tactics can you use to help achieve my goals? An MCNE professional is trained in advanced negotiating tactics and approaches. This training enables your agent to better achieve your goals. Your real estate negotiations are handled with skill and with a RENI trained agent you will achieve excellent results.
Read More Press Release: The Altitude Group joins Real Brokerage
The Altitude Group Press Release The Altitude Group announces their move to Real Brokers, LLC Denver, Colorado, March 7, 2023: The Altitude Group is excited to announce their next chapter in their real estate story. Matt Thomas and The Altitude Group are proudly joining Real Brokerage (Real, or ΓEA⅃) after a successful tenure at Compass, where they developed a reputation as a talented and dedicated real estate team. Real Brokerage is a technology-powered brokerage striving to create an agent-centric platform that offers home buyers and sellers a seamless end-to-end solution. Real currently has agents operating in 45 states, D.C., British Columbia, Alberta, and Ontario and rapidly growing. To read more about Real’s vision and strategy for growth, follow this link. During his four years at Compass, Matt was widely recognized as an agent with integrity, who represented the company’s core values, earning an identity as a top-performing agent and establishing himself as a trusted advisor to his clients. His commitment to excellence, combined with his deep knowledge of the real estate industry, made him a sought-after resource for buyers and sellers alike. Now, Matt and The Altitude Group are bringing their expertise and passion for real estate to Real, where they will continue to deliver outstanding results for their clients. At Real Brokerage, Matt will have access to an unparalleled suite of tools and resources, as well as a team of experienced professionals who share his dedication to delivering exceptional service. While some things are changing, other things remain the same: a track record of success, combined with commitment to excellence and deep knowledge of the industry. We are confident that Real will be a place for The Altitude Group and their clients to continue to thrive and we look forward to achieving even greater success in the years to come. Matt has always maintained that any brokerage he aligns with must also put the client first, just as he does. That’s why Real is the right fit at this time. "I am thrilled to be joining Real Brokerage," he said. "I have been impressed by the company's commitment to innovation and excellence, and I am excited to be a part of such a talented and dedicated team.” The leadership at Real, especially, is impressive. When Sharran Srivatsaa joined the company, Matt’s interest was piqued. “I look forward to helping my clients, both buyers and sellers, navigate the complex and ever-changing real estate landscape, while continuing to grow and develop as a professional." Real Brokerage is a budding, real estate brokerage that is also the fastest growing, publicly traded (NASDAQ: REAX) (TSX: REAX) brokerage in North America. Following their commitment to delivering exceptional service and results, Matt Thomas and The Altitude Group are proud to align with Real Brokerage.
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