One of the more obscure jobs of real estate agents is to poke around and try to glean information from other agents. Case in point: Doug and Carla's listing isn't on the market yet. One of the reasons why is there is another unit for sale in their complex. And I wanted to know what it sold for prior to listing theirs. This helps me price Doug and Carla's more competitively.
It turns out, the agent who has that listing is the same agent I bugged months earlier when I was looking for a home for Dee. She had the house that was being fixed up and wasn't on the market at the time. I dutifully called every week until she let me show it to Dee. And then we put an offer in on it, making sure there wasn't a bidding war.* It is safe to say, this agent knows my name.
Anyway, I've been talking to this agent for the past couple of weeks. She told me her first offer was for $27,000 over asking price--for a 2 bedroom, 900 square foot condo?! Yep. That offer fell through. So, there was another offer for $15,000 over asking price. They were waiting for the appraisal to come back and it would close next week. She said call her back and she'd tell me what the 900 square foot condo appraised for--just to help me with my pricing.
Yesterday I found out the condo appraised for the $15,000 over asking price! So, that means it isn't unreasonable to market Doug and Carla's condo at the higher value. Had we not waited, they probably wouldn't had gotten as much for their place. And, had I not poked around and had this relationship with this agent, I wouldn't have been able to find this information out until after Doug's condo was on the market.
*Then the house caught fire three days after Dee closed on it, but that's another story.
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