2008 is going to be GREAT!!!!

Mary Iliff (RE/MAX ) — Thu, 03 Jan 2008 17:00:09 -0600

I am so excited! It's only January 3rd and the phones are ringing!! Finally my sellers can hear "I have a purchase contract for you!" BUYERS YOU SHOULD BE LAUGHING ALL THE WAY TO THE BANK!! What fantastic deals to be had from Builders and Banks. I'm closing on a property next week that is an amazing buy. My precious buyer had only $90,000 to spend and we found her a home valued at $170,000! GOD IS SOO GOOD!!

Cincinnati seems to be doing much better than the rest of the nation and I am so grateful! It is so good to be selling real estate again. This has been so difficult for everyone I know. I just know if we believe we are going to make 2008 great and we work hard God will and has Blessed Us.

Mary Iliff,ABR,CRS,SHS,SRS

RE/MAX Unlimited

Changed Perspective

Mary Iliff (RE/MAX ) — Fri, 15 Jun 2007 14:33:00 -0500

I mentioned earlier that starting this blog and utilizing pay-per-clicks is part of my efforts to change the way I do business in response to the current market conditions. Well, today one of my buyer's agents set me straight on another aspect of working this market--pricing. I'm so deep into the idea of being a listing agent that I find it hard to to tell new clients that they shouldn't list their homes for as much as they think they should get for it these days. After all, we've just come through a period where we could almost count on a certain percentage of appreciation per year, whether major improvements are made or not. Not so these days. Prices in our market are pretty flat, and in some cases, slipping. I try to be sympathetic with my sellers, but I usually say something in the listing appointment to the effect of "I'm so sorry, but in this market you just aren't likely to get what it's worth." Back home at the office, I'm complaining to my staff, whining "Oh when are we ever going to get market price again? I have to list all these great houses below market to get them sold!"

Well, my buyer's agent just pointed out to me that a property is only worth what someone is willing to pay for it. So what it's "worth" is in fact the lower price people are willing to pay, NOT what I think it should be. Market Price IS what things are going for.

Humph.

She went on to point out that I wasn't doing my clients any favors by telling them the offers they are receiving (if they get ANY offers) aren't reflecting what it's "worth." I should be helping them understand that what it was "worth" a year ago has no bearing on what it's "worth" today. She's right. I just have to change the way I look at things to work with the market I'm in, not the market I'd like to have.

Mary's Blog

2008 is going to be GREAT!!!!

Changed Perspective