â€œWe’re still getting started,â€ says real estate mogul Barbara Corcoran, who has advice about buying, selling, and hot spots across the U.S.
This part is interesting –
Q: Any advice for sellers?
A: Sellers don’t need any advice. The one thing: If you want to be overpaid, underprice by 10% and see what happens. It creates a feeding frenzy. Have your home priced by three brokers, go with the lowest, and knock 10% off that. Only 1 in 10 people maybe has that chutzpah, but it works again and again and again.
This is far too risky, and not advisable in our market, in my opinion. Not that it doesn’t happen, but as the Seller, you had better be right!
Q: What about tips for buyers?
A: For buyers, No. 1, I guess, is that cash is king. You have to think like a competitor. Over and over again, people say, â€œI’ll give you the higher price, but I need five days.â€
Again, cash does not necessarily carry the same weight that it may in other times/markets. Money is cheap and lenders are aggressively loaning money. A good buyer will, 95% of the time, get the loan.