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56 Comments on Priced to Sell! Priced to Sit!
Price is a moving target, you may have all the data, the reasons and the buyers still dont come, The market determines the price.
We use a service to get feedback from all buyers agents adn that goes to teh seller automatically, i have now got sellers calling me to drop the price based on feedback.
A incorrectly priced house is a emotional and financial drain on all involved
Nice job! One of may favorites phrases is "This one will go fast!" and it's still sitting 6 months later...
Congrats on your feature Rita! Love you slogan price to sell or priced to sit!
Just the term itself "priced to sell" sounds so ridiculous. Does that mean that every other home is not priced to sell - LOL
Yeah, if it is priced at all, it should be priced to sell. Kind of goes without saying. Great post!
Hi,
I always felt if a home is priced to sell, the price and condition of the home will speak for itself. The buyers and other agents will have no problem recognizing the value.
Great post, and I've been amazed by those phrases too! "Won't last . . ." and it's priced to sit ;0
Thanks everyone for your comments. :)
Dorie - that's my thoughts exactly.
Bill - doesn't it. Yeah what about the other houses then???
Russell - that one makes my eye twitch - LOL
Andrew - we do this also and it does help
Great reminder!
In this market, I've learned that it's not "location, location, location" it's "price, price, price". If a seller is being unrealistic and wants to overprice their property, I don't take the listing. Pricing it per, the current market, conditions, location, features, etc., it WILL sell, and sometimes, even get multiple offers, no matter what kind of market it's in.
Unfortunately we still hear the old walnut "location, location, location". It is Price, Price, Price based on condition AND location. Some people just do not seem to get that. Both agents and sellers. If it is the seller that refuses to accept reality, I move on to the next one and let another agent waste his/her money and time on a lost cause. I hold very little inventory because I work with sellers who listen to what I tell them and use the information that I obtain concerning comp properties. They price their homes competitvely and most sell within a reasonable amount of time. No, they do not "give them away" and make as much profit as they can, but they are living in reality, not some dreamland.
These days my tag line is "NOT DISTRESSED - NOT SHORT - NOT REO - PRICED RIGHT"
HA!
It's funny when an agent keeps in the remarks: No showings before September 1. Hurry this won't last.
And it's Thanksgiving now!
In our MLS they do not allow any listing to be ACTIVE unless it is now available for showing. Period. We cannot list a property and then say that it is unavailable until a week down the road or so. It must be accessible from the moment it is placed as Active in the MLS.
Rita, 'Priced to Sit' must go along with "This one won't last" because more times than I can count, I have seen houses with that description still on the market 6 months later...BTW 'Priced to Sit' is definitely a new classic!
I guess I'm going to stop using this on my ad copy :)
Placing 'Priced to sell' in the MLS certainly gets attention - but many times it is attention by other Realtors to hone their CMA skills. Unless it is actually priced to sell, you are better off not placing such terms in the MLS
I never understood why agents don't update their remarks when the "time frame" they state has passed. It is so unprofessional. If I were a seller I would be embarrassed if my agent added a "time is of the essence" type of remark in the listing and left it there for months.
Mike - LOL you better :)
My favorite update phrase I make to my sellers that have insisted they didn't want to give it away. It's been 2 weeks, no showings, no offers, no calls....Do you still want to sell it or KEEP IT?
Hello Rita,
Good post! Love the phrase "priced to sit". Thanks for sharing! Have a great weekend!
Chris
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