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Is There a Banana in Your Tail Pipe?

By
Real Estate Broker/Owner with Homes By Cross, Inc.

The Truth is a powerful weapon.buying Charlotte properties

The truth is that the house is overpriced.

The truth is that the seller and you both know it.

And the truth is… that until the price is right....the house won't sell.

For the Fantasy Island group, let’s review:

At the kitchen table, you paused, then the seller whipped it out…the Ouija board. Seems your sellers fantasized on what price the house would sell for. Mumbling, the they moved the pointer to “higher”. Playing the role of Tatoo, you knodded and waved.

Is this a dance with predictable moves or a bad game of Twister?

Pricing a property is not an exercise that comes with an Ouija board, nor does
it include whispering and randomly pushing numbers in hopes of signals from the
beyond. 

If you carry a rabbit’s foot for good luck or think you can channel the mystery of absurdity, make sure you have Bob Barker tuned in when you are playing the far-out game of the Price is Right.

The real deal is focused on the fact that the banana peels back the same way every time.

Pricing a home so that it will sell, is fairly concrete. Don’t take yourself or your seller down the long path of disappointment. Be their hero. Tell them to Price it Fair and Price it Right. Accurate CMA’s are the key. They are part of what we we do. And Sellers need to listen to what the market has to say. Richard Weisser presents this point well in his post here on Active Rain.
Those words start with a good agent.


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Comments(8)

Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

I tell my sellers as I get a % of the sale I ALSO want to leave nothing on the table. But if we do not sell neither of us get anything. That usually works

Aug 22, 2009 09:47 AM
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Claude - I think more sellers are beginning to understand the importance of pricing, but there's still a stubborn group that refuses to get the message--and ultimately miss a sale.

Aug 22, 2009 09:55 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Charlie -" I tell my sellers as I get a % of the sale I ALSO want to leave nothing on the table. But if we do not sell "neither of us get anything. That usually works"

Nothing spends more poorly than something that won't sell. Excellent comment!

Aug 22, 2009 10:51 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

John - Thankfully many sellers are awareness oriented. But some aren't. My point (and yours) is to make sure . Thanks for the input

Aug 22, 2009 10:55 AM
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

The Ouija Board is a significant part of my presentation when listing a home.

You have to be serious if you want to sell and it's our job to help people be serious. Anything else is just a waste of time and wishing your home was more valuable than it is doesn't really help matters.

Aug 23, 2009 02:11 AM
Irene Kennedy Realtor® in Northwestern NJ
Weichert - Lopatcong, NJ

Claude,

Recently had a listing appointment at which I suggested the owners not even put their home on the market, based on Ouija pricing. (They had already spoken to another agent.) I left them solid documentation showing what price would interest buyers. Suggested they scrutinize the "evidence" my competition left them and compare the 2.  "Oh, really, he didn't leave you any material?"

Might still get the listing - but only if it is priced where I have any chance to getting the sellers an offer.

Aug 23, 2009 03:03 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

JL - LOL about your Ouija comment ! Thanks 

Aug 23, 2009 06:03 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Irene - Smoke blowers may get the listing. It's the house sitting on the market unloved afterward that makes the Ouija board mystical. Time is money. Thanks for the penitent story

Aug 23, 2009 06:09 AM