Tuesday, July 31, 2012

Tues Post #1: Motivated! Must Sell! Craigslist as a gauge for real estate desperation?

For kicks and giggles I did a craigslist search for the term 'must sell' in ads listed on July 29th and 30th.

It's hard to imagine craigslist as the pawn shop of the real estate industry, but there was a curious number of listings found.

Search with the term 'motivated' and another plethora of listings emerges.

Personally I find the whole practice of selling a home on Craigslist somewhat bizarre. I can understand looking for renters on Craigslist, but a buyer?

Some say that the advantage of Craigslist is its “ubiquitous nature” in that, like Google and Facebook, the site is well known and is still the place on the internet for online classifieds.

And it's not just lower priced homes. There are listings for multi-million dollar homes on the site as well.

Really? A 3 million dollar home hawked in the same manner as used camping gear?

It seems to me sellers are likely to find that Craigslist may not drive the kind of traffic and interest to their home that traditional marketing methods do. But in a down market, surely many realtors are viewing the use of one of the internet’s premier local bulletin boards option as one where they have nothing to lose.

I'm curious to keep tabs on this in the coming months.

Will the number of CL ads from the 'desperate' ballon exponentially? Can the CL factor become a gauge for desperation end of the market?

I guess we will see. Click on the images below for a selection of today's search.


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  1. This illustrates to me just how cheap and easy buying and selling RE is now. It used to be special and difficult, but now anyone can get a mortgage and get in the "game". People buy and sell houses like they are used cars.

  2. ^ Thats a good point... Its not as if these homes are rare or anything. How does the psychology keep these things pricey? This must be a part of the reason why I have no interest in owning one.

    The CraigList aspect feels like praying somehow. Somehow, maybe the universe will hear you if you post it on the internet.

  3. Seems like a lot of those "must sells" come from Surrey...

  4. I don't think realtors are posting on Craigslist because they think they will sell a house on a classified alone, "in the same manner as used camping gear." It's more about posting links back to your main site as part of an SEO effort. But, I do agree that it is interesting to note the change in verbiage.