What's Selling: Hopkins

Days on Market: 12

Where: 301 13th Ave. North, near downtown Hopkins

What: 3 BR/2 Bath stucco bungalow with over 1,800 finished square feet; nicely updated.

When: listed 10/29; off market yesterday (11/10)

How much: asking $250k

Who: listing agents -- Stacy and Christina Cranbrook (Edina Realty); selling agent -- Nancy Bourland (Edina Realty)

"We must all hang together, or assuredly we shall all hang separately."

--Benjamin Franklin

The secret to this sale?

The price, location, condition, and curb appeal all helped.

But my educated guess is that the key was the "mini-Broker tour" on Nov. 2 (a week ago Tuesday).

That's when 20 agents with "Active" Hopkins listings -- myself included -- collaborated to all hold our listings open between 11 a.m. and 1 p.m., complete with drawings and catered lunches at many locations.

All that publicity generated lots of traffic, which raised everyone's exposure and resulted in at least two other deals that I'm aware of.

The home is officially "Pending" until it is scheduled to close Dec. 10.

Tighter Credit -- For Realtors, Too

"Put it on my Marketing Account -- Not"

It's not just borrowers getting pinched by tightening lending standards -- Realtors are, too.

For years, Edina Realty and other brokers have basically extended credit to their Realtors through company marketing accounts. Print ads, mailings, Web site and technology fees -- all the day-to-day expenses Realtors typically incur could be charged to their marketing account. As deals closed, the broker would subtract the debit balance in the marketing account from the realtor's commission.

No more.

With deals fewer and far between -- and at lower prices -- brokers are getting stuck with their Realtors' IOU's for longer. And with more Realtors exiting the business, brokers have been increasingly stiffed with large, unpaid balances.

So prospectively, it's increasingly "pay as you go."