Wednesday, October 10, 2007

Weekly Sales Report

There is strength in numbers. Coldwell Banker is a strong company. Every Wednesday in our standing room only office meetings, the strength of our network is evident. If feels very much like one of those Verizon Wireless commercials where you turn around and the whole network is following you.

Our Wednesday meeting is the time where we come together and try to help each other sell our listings. New listings all get pitched, we are reminded of offer dates, price adjustments are announced, and if we have a specific buyer need or concern we may ask the group for help. This is important when choosing a company to represent you in the sale of your home. Just like when choosing a cell phone company, you want the real estate company with the largest network.

It is because of this networking that 20% of our opened escrows this week were sold within our office as were 50% of the closed escrows. That happens because we get the opportunity each week to pitch our listings to over one hundred agents, each of whom has a list of active buyers they are working with. There is something more powerful about a face to face presentation than seeing an advertisement on the Internet. Don't get me wrong, Internet advertising is extremely important. Did you know that 70-80% of all home buyers start their search on the Internet? Of course you did, you're on the Internet!


There were 10 escrows opened this week. Three were multiple offer situations. Two of the properties had fallen out of escrow once, came back on the market, and opened escrow again. Many buyers look favorably on a property that has come back on the market as they believe the seller will be that much more motivated to sell the second time around.

There were only four closed escrows this week. One sold at asking price, one sold over asking, and the other two sold for under asking price.

Our office alone had ten properties on tour this week, which is a good number. I hope to see that continue.

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