Another agent from a different market recently boasted online about how often she wins bidding wars for her buyers. As many of you know, there is no sport I enjoy more than a good bidding war when I represent a seller - and I’ll do my best to cultivate one at the slightest opportunity. I don my cubs hat, pop the popcorn, and deftly manage the gladiators in the ring. I always go to great lengths to maximize my seller’s return.
But representing a buyer in a bidding war is another story, and “winning” is not always the best marker of good brokering. Although I want to see our clients win the home they covet, I believe there is a higher purpose in making sure that their bid is consistent with their goals, and that their risk and exposure in the marketplace is minimized. Not always so easy.
That’s why I’m proud to say that I just had a buyer lose a house in a bidding war. After thoroughly evaluating the recent comparable closed properties, my client and I formulated a bid based on the market, their desire for the home, and their expectations for resale in the future. My goal is to arm my client the pertinent knowledge, and then go fight their battle. In this case, we lost the bidding war because the price went way above what we determined was an appropriate value.
As much as I love to win, I enjoy making sure I effectively represent my client’s interests and goals even more. Even if it means waiting for the right opportunity.
Have a great weekend!
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Porchlight Music Theatre’s Cabaret
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Porchlight Music Theatre is pleased to present the Tony Award-winning landmark musical Cabaret at the Ruth Page Center for the Arts.
Based on the 1951 play "I am a Camera" by John Van Druten and the novel “Goodbye to Berlin” by Christopher Isherwood.
Bold and provocative, this winner of seven Tony Awards, including Best Musical, shines a spotlight on Berlin in the late 1920s and the colorful, gritty and hedonistic lives found there. Filled with iconic songs and electrifying dance, Cabaret tells the story of the American writer Clifford Bradshaw and his relationship with English cabaret performer Sally Bowles on the eve of the Nazi party’s rise to power. Overseen by an ominous Emcee at the fabled Kit Kat Club, Cabaret is a cautionary tale that has renewed resonance in today’s political climate.
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Chicago Botanic Garden Orchid Show
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A 25'-wide orchid. Huge hanging columns of color. And a chance to step in and become part of the bloom. This year’s all-new Orchid Show at the Chicago Botanic Garden in Glencoe is big, bold, and beautiful. Expect the unexpected and explore the brighter side of winter at the Orchid Show: Magnified.
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8 Bed | 4.2 Bath North Center
Offered at $1,740,000
Open House Tuesday, 11:00 - 1:00
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Three 2-Flats North Center
Open House Tuesday, 11:00 - 1:00
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3 Bed | 3.1 Bath North Michigan
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4 Bed | 3.1 Bath Gold Coast
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840 N. Lake Shore Dr, #1703
3 Bed | 3.1 Bath Streeterville
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4 Bed | 3.1 Bath West Loop
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3 Bed | 3.1 Bath North Michigan
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2 Bed | 2 Bath Buena Park
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5 Bed | 4.2 Bath Bucktown
Chicago's finest modern estate
To be offered at $7,250,000
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3 Bed | 3.1 Bath Gold Coast
Art Moderne masterpiece
To be offered at $1,285,000
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3 Bed | 2.1 Bath East Village
Duplex down in prime location with 2 private outdoor spots
To be offered at $599,000
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2 Bed | 2 Bath East Lakeview
Gorgeous pre-war residence in one of Lakeview's most prized buildings
To be offered at $449,000
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Modern. Vintage. Architectural. Cool.
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And everything in between.
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Check out previous "Into the Weekends" here.
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© Compass 2023 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass Real Estate is a Licensed Real Estate Broker with a principal office in New York, NY and abides by all applicable equal housing opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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