DALLAS — Dallas real estate agent Stephen Lewis calls it a “thick skin market.”
That goes for him and his clients.
“Last weekend at a home in Mansfield, out of 95 showings there were 35 offers,” he said. “The purchase price was roughly around $450,000 and it went well into the $500,000’s.”
Lewis is the co-owner of Ink Realty Group and the president of the National Association of Real Estate Brokers, Dallas area.
According to new data released by Showing Time, a website that tracks home showings, only houses for sale in three other cities in the U.S. are seeing more showings than Dallas.
Seattle, Denver, and Orlando rank above Dallas.
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Realtor Melissa O’Brien knows a busy weekend is ahead.
She just finished staging a home on N. Clinton in Kessler Park that will hit the market Friday.
At most listings, she’s seeing “75 to 80 showings.”
Her O’Brien Property Group has several homes coming on the market this week.
“I expect them to be gone by the weekend,” she said.
The sellers of the home on Clinton will likely set a deadline for offers within a couple days of the home entering the MLS.
Lewis said showings are often being limited to 15-minute windows that are tightly scheduled.
“You may get stuck with a 7 p.m. showing, but still go there to that 7 p.m. showing, because that’s your window of opportunity,” he said.
He often has a template of a contract ready to go and his laptop sitting in his car, because he knows time is of the essence if a client likes a home during a showing.
It means working with the right realtor is critical for buyers.
“I actually encourage buyers to interview their agents,” Lewis said.
He suggests finding someone who will take those late-night showings and help you make quick but well-informed decisions.
O’Brien’s keyword is determination.
“Agents have to have a lot of determination right now,” she said. “It’s really, really important to keep you clients focused.”
Both say North Texas buyers must be patient and prepared to spend.
“The last client I put under contract this weekend – we went 30% over list,” O’Brien said.