Categories: Hoboken Condos
It’s Friday. My day to make appointments for showing buyers properties over the weekend. I’ve been telling you for the past year what a shortage of inventory there is in the Hoboken real estate market. How every nice property receives multiple bids. Those same properties, before the bids come rolling in, are also in extremely high demand for showings by agents. Saturday and Sunday are the busy days – it’s when most buyers are off from work and can go looking at prospective homes. One would think that a listing agent, whose job it is to get the most money in the least amount of time for the seller, would understand that easy access to the property is in the seller’s interest. Real estate is nothing more than supply and demand. The more people who see a place, the more offers there are likely to be presented. The more offers there are, the more money the seller is likely to get. Simple stuff. I just called to make an appointment to show a new listing at a very sought-after complex. One where 2 bedrooms have been selling like hotcakes and prices have escalated by $100k in a year. I was told there was one key at the office. When I suggested that maybe the listing agent put a lockbox on the property, at least for the weekend, he told me he “doesn’t do” lockboxes. It’s too much trouble “because the key could get lost”. Well, the key can get lost no matter if I take it out of a lockbox or get it from the office. The problem is that on Sunday morning, when 50 agents all want to show the same unit, and there is no open house and only one set of keys, chaos ensues. Some agent has the key, the listing office is not sure which one has it, and we all run around after each other playing chase down the key instead of being able to do our jobs professionally. Sometimes you just can’t get the key so the property doesn’t get shown. Yes, I find this incredibly frustrating. But you know who really suffers? The seller. There are real buyers who want to see the place who don’t get in because there is only one set of keys and no lockbox.