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I'm always amazed at the emails that I get. This was in my inbox this morning.

 

Eileen,

You showed my listing at (deleted address), Aurora on 4/21/2007.
I have recently reduced the price on this listing from
$250,000 to $249,900 and thought you may want to bring your buyers back for another look. You may reach me at 630 XXX-XXXX if you have any questions or would like to schedule a showing appointment.

 

Did I read this correctly? A hundred dollar reduction? 8 weeks after I've shown the property and my buyers long ago closed on the property that they purchased.

Either the agent doesn't have control, or the sellers believe it's still 2005. It's not. There's tons of competition. And, one way to get a property sold is to reduce the price. I mean, that's common sense. At a low enough price point buyers will make offers. 

This goes into my email Hall of Fame wall. Remember, the email from the agent whose listing I showed a year ago? This goes next to it.

My other interesting morning email was from a builder...who (surprize) has increased his selling commission, reduced the price of his properties and is giving free upgrades. Bet that he gets his homes sold. 

What are you seeing in your market place? 

 

12 Comments on Funny email

You should send her a response back..." I am sorry, there must have been a typo, did you mean you reduced it to $149,900?"

06/13/2007 03:53 PM by Daniel Gates (PuroClean Professional Restorers)


Some companies have automated e-mail that go out when the price is reduced. All the agents that showed the property get the updated e-mail. If this is the case, they need to adjust the settings....

I am just giving this agent the benefit of the doubt!!!

Regards,

Hassan

06/13/2007 03:57 PM by Hassan Hamri, P.A , e-Pro®, ABR® Orlando Florida Real Estate (Stirling Sotheby's International Realty)


I'm hoping his fingers are broker or something. I know you weren't supposed to do back flips over $100.

06/13/2007 03:59 PM by Long Beach Mobile Notary - LaShon James-Major (The Document Diva)


Same thing in MD and No.Va.  Builders lowering regularly. 

I had a gentleman want me to list his investment property in my neighborhood.  He's been reading my blogs and thinks he wants me to be his agent.  The builder in the community is offering the same model for $100,000 less.

They were offering higher commissions, but backed off that when they got complaints from existing owners.  Now they are offering $40-$75K incentive to the buyer.  Still a very good deal. 

These homes are easy to sell.  All you need is a buyer.

Lenn

06/13/2007 04:00 PM by Lenn Harley, Homefinders.com, MD & VA Real Estate


$100.....obviously a non motivated seller or a huge typo.

06/13/2007 04:18 PM by Larry Bettag - Cherry Creek Mortgage


Eileen,

 I got one of those wonderful Florida emails this morning offering 12% commission with some restrictions on a condo project in South Florida.

 

 

06/13/2007 04:54 PM by Innovations Realty Inc


Eileen - I love it! However, I would go along with Hassan as it really looks like a "formated" e-mail that is automatically generated as opposed to the agent connecting with you. But, that is also why I don't like "auto" e-mails.

What I don't get is the whole idea that $100 is going to make a difference. I have yet to have a client say, "I am not going to buy that house until they get the price down another $100." Nor have I failed to show one because it was priced $100 higher.

Oh well, such is life in our new buyer's market.

06/13/2007 04:55 PM by Toby Boyce, MBA, Delaware Ohio (Keller Williams Consultants Realty)


I've been seeing this also and I just have to laugh. The only thing I can think is that it may just may find a buyer that has a search set up for 0 to $249,999.

But if they think that an agent is going to go "OH WOW - Now it is worth that and it should appraise is crazy"

 

06/14/2007 01:05 AM by Todd Clark (Realtor), GRI (Washington Co, Beaverton Oregon) (Kastings & Associates, Beaverton Oregon Real Estate)


Daniel,

Funny, but I don't think she will think so.

 

Hassan,

Yes, I'm sure that it's an automated system...so much the pity. Just a waste of time and another deleted email. (Except for putting it up here as an example of what NOT to do.) 

 

LaShon,

I'm not even doing back flips over a $1000 reduction. Reduce the price 3 to 5% and maybe I'll be more interested.

 

Lenn,

Just got an email from a builder's agent. They're wanting to sell our their models...so, commission is 4.5%.

Yes! I kinda like that.

 

Larry,

You're so right...I'd have cancelled the listing a long time ago. Why waste valuable time and money. And, the area has tons of competing listings.

 

Fred,

Just wish that there was a way to stop those Florida swampland deals. However, maybe I'll go to 'blogger boy' Bryant and buy something there which has fallen in value by a mere $50,000.

 

Ah Toby and Todd,

Yes. A measely $100? Not worth the time to send out the email. And, what agent in their right mind searches up to $249,900? I believe with the high use of internet searches that we're doing searches for wider ranges:$225,000 to $260,000.

 

Now, I've been thru buyer's markets, seller's markets...and no markets. Everything is cyclical. Remember that. 

 

 

06/14/2007 05:43 PM by Eileen Landau, ABR, CRS, e-PRO (Realty Executives, Pro/Team)


And yesterday, I received another email from the same agent.

They have now reduced the property to $249,500.

If they continue like this for several years they'll probably find the correct price.

07/11/2007 01:07 PM by Eileen Landau, ABR, CRS, e-PRO (Realty Executives, Pro/Team)


The price keeps going lower.

Today, 8/1/07, I got another email (I think that I've now received six) and the price is now $247,900.

Wouldn't it get be better to reduce the property by $5000 thousand? And, to have done it back in April?

08/01/2007 08:49 PM by Eileen Landau, ABR, CRS, e-PRO (Realty Executives, Pro/Team)


The price keeps going lower.

Today, 8/1/07, I got another email (I think that I've now received six) and the price is now $247,900.

Wouldn't it get be better to reduce the property by $5000 thousand? And, to have done it back in April?

08/01/2007 08:49 PM by Eileen Landau, ABR, CRS, e-PRO (Realty Executives, Pro/Team)


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Real Estate Agent: Eileen Landau, ABR, CRS, e-PRO (Realty Executives, Pro/Team)
Eileen Landau, ABR, CRS, e-PRO
Naperville, IL
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Realty Executives, Pro/Team

Office Phone: (630) 515-9500
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An assortment of odds and ends that may or may not pertain to the greatest city in the Midwest: Naperville. Also some commentary on the Naperville real estate market.


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