Curious about pricing and perceived negotiation spreads in your area. In my previous market (TX - Midland, Austin, Houston), it was very common to see LP/SP ratios in the 92% - 96% - with most being 94-97% of asking. (referring to current LP, not original LP) In my current market (Seattle), the spread is often 1% or less. Even when DOM climbs above 60 days, the avg. spread is still much tighter - typically 2% or less - and sellers seem more content to let the home sit on the market longer. Here, Ive found that even Buyers Agents seem hesitant to engage a seller/Listing Agent with an offer they think is fair, even if they think the listing is only slightly overpriced. Thus, the conversation often never starts. Whereas in TX, so-called low ball offers are much more common, and seen more as a starting point, rather than an insult. Whats a typical negotiation spread in your area. And, if youve worked in multiple regions, do you notice these differences as well?
Posted on: Wed, 07 Jan 2015 02:15:09 +0000
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