Is my reasoning correct here?
May 22nd, 2011 at 3:08:35 PM
permalink
My fiance and I disagree on something, looking for some perspectives. I recently put my house on the market, and our realtor said "on average it takes 30 showings to get one offer". To my way of thinking, this basically translates to saying "the average homebuyer looks at 30 houses before making an offer" but my fiance doesn't agree. Now I realize that some home shoppers may look but then not buy, but if we assume that vast majority of shoppers do buy, is my reasoning correct or flawed?
May 22nd, 2011 at 3:12:38 PM
permalink
I looked at my current home three times before putting in an offer. There's a many-to-one relationship which by definition doesn't go in both directions.
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice."
-- Girolamo Cardano, 1563
May 22nd, 2011 at 3:49:25 PM
permalink
jz, i agree with your reasoning. if you are assuming that all home shoppers are buying a home and each showing is for a new 'unique' shopper, then you have to deduct that showing the home 30x means that there are sales happening. However, it is not rational to think that everyone looking at a home is buying a home. There are many window shoppers, nosey neighbors, unqualified buyers, etc..
'Winners hit n run... Losers stick around'
May 22nd, 2011 at 4:06:39 PM
permalink
I doubt the average buyer looks at 30 homes. You are correct many never buy. Some homes sit on the market for months. When I looked many "showings" were drive-bys that I KOed before even getting out of the car.
All animals are equal, but some are more equal than others
May 22nd, 2011 at 4:16:36 PM
permalink
The '30' number was thrown at you by your realtor so you don't start looking for a competent realtor sooner.
May 22nd, 2011 at 4:37:58 PM
permalink
I am betting you signed for 6 months and that if you find a buyer yourself you still pay commission to your Realtor. How many
Realtor s did you interview ? How many comparable s did each show you before you made your decision ??
And get ready for the open house when your listing is about to run out. Open houses very seldom result in a sale, but will get your Realtor lots of referrals.
Realtor s did you interview ? How many comparable s did each show you before you made your decision ??
And get ready for the open house when your listing is about to run out. Open houses very seldom result in a sale, but will get your Realtor lots of referrals.
May 22nd, 2011 at 4:43:59 PM
permalink
Thanks for the responses. So far I have had about nine showings (one repeat showing) in about ten weeks. My realtor helped my fiance buy her current house, which is also now on the market and listed by him. He also will represent us as buyer's agent for the house we will buy together at no commision, and already saud he doesn't hold open houses. There is a lot of supply out there so thankfully we are not needing to rush into any sale.
May 22nd, 2011 at 5:17:41 PM
permalink
While you usually see them at open houses, there are people that shop for houses with no intention of ever buying. They just like looking.
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/ —————————————————————————————————————
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
May 22nd, 2011 at 5:56:51 PM
permalink
lookie loos ... or people who like interior decorating as a hobby.
By the way, isn't fiance a male and fiancee a female? My French is pretty good: La Plume d' ma Tante est sur le bureau de mon oncle.
Buyers Agent: Get one thing clear. Real Estate agents represent themselves at all times.
By the way, isn't fiance a male and fiancee a female? My French is pretty good: La Plume d' ma Tante est sur le bureau de mon oncle.
Buyers Agent: Get one thing clear. Real Estate agents represent themselves at all times.
May 22nd, 2011 at 7:12:59 PM
permalink
Quote: FleaStiffBy the way, isn't fiance a male and fiancee a female?
I did not know that, but it is correct. But the two words are pronounced the same.
May 22nd, 2011 at 7:26:02 PM
permalink
I know that feeling. Our agent kept trying to get us to look at houses outside our comfort zone. We specified certain items that were automatic disqualifiers, like being located on a busy street or at a major intersection. She still had them on her list for us to look at. That nearly got her canned. Luckily for her she did a great job selling our house - we had 5 offers on the first day of the open house.
(I later realized that we probably should have priced it several thousand dollars higher. Oh well, live & learn.)
(I later realized that we probably should have priced it several thousand dollars higher. Oh well, live & learn.)
"Bite my Glorious Golden Ass!" - Bender Bending Rodriguez
