Last week was a BUSY week for our Sellers. Allison and I reviewed and negotiated 29 offers spread out over three houses. This is an unprecedented amount of activity for January. We anticipated the market would surge through the holidays and into 2021 so we pivoted and encouraged Sellers to follow our lead and list in January. Hats off to those who did. 

Here’s what we learned last week: 

Multiple Offers

• Multiple offers help us to negotiate and ensure you land at the highest possible price the market will bear for your home
• Multiple offers do not always equate to wild sales prices 
• Multiple offers are much more likely to occur when you price below the perceived market value of your home  

Sale Prices

• Record-setting sale prices occur when your house meets and exceeds the needs of the buyer pool it has attracted
• Strong sale prices also happen when buyers have been forced to wait for inventory in their price range or in a sought-after area 

Buyer’s Needs

• Buyers know what they want and are savvy!
• Buyers want square footage, room to grow, a high bedroom count or flex space, and a home that is stylish, inviting, treasured, or in a rarely-available neighborhood
• Buyers also want a resort-like backyard with a pool, firepit/fireplace, lawn and entertaining capabilities 

Offer Terms

• While cash seems optimal, most people with cash want to place a loan on the property given historically-low interest rates
• Buyers are forced to waive all contingencies to win (nobody serious has a contingency)
• The pattern for length of close ranges from 25 to 30 days
• Buyers need to write to win to be at the negotiation table and stand out from the start 

Seller Thoughts

• Follow our guidance and present a home in near-perfect condition (our staging will make it hip and appealing)
• Remember why you are moving and look forward (looking backwards becomes emotional)
• Price your home fairly
• Trust the process! 

Negotiating 29 offers in one week gives us an unprecedented insight into the Lamorinda real estate market. I can say with confidence that the knowledge we obtain gives you a powerful advantage over others if used properly. Our team of experts are here to answer your questions and guide you! 

Dana