Real Estate

The Real Word: Are You Using These Bidding War Strategies?

Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.

Rising lumber costs have increased the cost of new homes by an average of $36,000, according to an Inman article published May 3. The soaring costs are having a profound effect on not only the new-home construction industry, but also inflation — a growing concern in a pandemic-induced market.

“During the pandemic it was really hard for builders to get the materials,” Nicole said. “But now, even if they’re able to get the materials, the costs continue to skyrocket.”

More this week: Bidding wars are the new normal of this red-hot seller’s market. In this episode, Byron and Nicole talk through a list of tactics that’ll help buyers sway sellers’ decision, and ultimately win the house of their dreams. Which bidding war strategy from this Jimmy Burgess Inman article is a racket?

“Figure out what’s important to the deal; how can I be creative here?” Byron said. “Because as Jimmy writes in the article, price is one thing, but the bottom-line net to the seller is what really matters.”

Marketeer of the week

Social media influencers are shining a spotlight on the high-end luxury market. This week, Byron and Nicole are shining the spotlight on an agent who’s leveraging YouTube talent to raise awareness around his luxury listings.

Want to nominate a “marketeer of the week”? Drop your thoughts in the comments section below, or shoot us an email.

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