pricing: Using Price Bands in Establishing a Target List Price
- 12/27/06 12:30 PM
Price bands are not 'range pricing', as used so effectively by Broker Bryant. Price bands are another way of gauging your inventory and absorption rates in different price breaks. Tonight I have been preparing a market analysis for a property in Huntersville NC (just north of Charlotte, on the south end of Lake Norman). Pretty hot market overall, new construction is handled pretty tightly by the town since they don't want the town to become a sea of concrete. The property in question is scheduled to be completed next month. My buyers need to sell it as soon as it's complete, since they … (8 comments)
pricing: Helping sellers understand showing activity-
- 10/31/06 03:21 AM
Yet another thing that's part of our jobs and part of our daily lives, but we (real estate professionals) don't always properly explain what it means when a property is shown! Know your averages. Last time I checked (anyone, feel free to correct me if you have the current numbers), buyers looked at an average of 10 homes before selecting one. SO....if your house has had 10 showings, by averages it's been compared to 100 homes. Now, if you have no offers from those 10 showings, you've lost out to a lot of your competition. (remember, we're talking averages and ballparks-i know … (2 comments)
pricing: Being tough with a seller
- 10/06/06 07:51 AM
It feels GOOD to be tough on a seller! And they will thank me when the house sells faster and for more money. I refused to take a listing today that should sell for around $600,000 because they aren't through getting the landscaping ready. They want to know: 'Why not? The other agent said we could have it in MLS for this weekend!' And I reminded them that the first buyer through the door could be the one to buy it and pay closer to list....if it's fabulous and READY....and that buyer could very well go on down the road if that … (5 comments)
Price bands are not 'range pricing', as used so effectively by Broker Bryant. Price bands are another way of gauging your inventory and absorption rates in different price breaks.
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