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Priced to Sell ? Well now, is it?

By Catherine Myers

Real Estate Agent with Windermere Bay Area Properties

July 31, 2007 01:46 PM

I saw it again today, a sign rider that read "PRICED TO SELL!" Ummm, ok... as professionals wouldn't you think that we all price homes to SELL? When is the last time you knowingly priced a home to SIT? Or to get STALE? Don't we all want to price homes to sell? Isn't that the point? Isn't that what our clients pay us for (at least partially)? Don't they trust us to provide them the proper market research and the proper recommendations to come up with a price that IS a price in order to SELL?

Does it maybe mean it was priced to NOT SELL, but now its priced to SELL? This particular house though has not had a price change... its just been sitting "priced to sell." If it really was priced to sell, wouldn't it have sold? Even in a down market, doesn't price mean something?

Do you use this rider? Is it just so simple that one is advertised we're priced right? Am I overthinking this? :) (nahhh, not me). But really, this is on a home that was COMING SOON for 3 months.. now finally, its priced to sell. But, after the eternal coming soon, its been on the market 6 weeks now... soooo, is it really priced to sell?

Oh, and next time.. "I'm gorgeous inside." Does it mean, don't judge me by my looks outside? Are you admitting its ugly on the outside?

Any thoughts?

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Ryan Hukill - Edmond

405home @ ERA Courtyard - Edmond, OK

Realtor, Team Lead

Yeah, I always chuckle a little when I see the "priced to sell" riders, the ones that read "must see inside" and even the "price reduced" signs. Doesn't price reduced signify that it wasn't selling so we had to lower our price, implying that it was priced too high and nobody's biting, pleeeeeeeeease come look at it and bring us any kind of offer, pleeeeeeeeeeease!

Priced to sell really is a joke. Any house that's priced right will sell, period. It doesn't have to be advertised as such and I find that most times, when it has a priced to sell rider, it's WAY overpriced!

Jul 31, 2007 01:58 PM

Catherine Myers

Windermere Bay Area Properties - Walnut Creek, CA

Walnut Creek, CA Real Estate

Ryan yes, I've noticed that as well, the ones PRICED TO SELL are more typically OVERPRICED to begin with. If it was priced to sell in the truest sense, we wouldn't need them to tell us would we :) ?

Jul 31, 2007 02:04 PM

Wendy Cutrufelli

Alain Pinel Realtors - Walnut Creek, CA

Contra Costa Realtor

Hi Catherine,

I love this! It brings to mind a whole host of new signs. How about "Future Value included in Price" (or, in other words, overpriced listing with an unrealistic seller".

Jul 31, 2007 02:07 PM

Wendy! I love that, I'm laughing out loud here at the Future Value Included in Price! That's priceless!

Jul 31, 2007 02:18 PM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

I think the intended meaning is priced to sell quick. I think though it would be very embarrasing to have a rider that says that unless you are very sure that It would in fact sell very quickly. I would never use a rider like that.

Jul 31, 2007 02:26 PM

Pam Hofmann

Third Tennessee Realty & Associates, LLC - Crossville, TN

Your Crossville, Lake Tansi & Fairfield Glade Specialist

Catherine, I think these Realtors have just been programed into thinking they need some kind of "rider" to

set them apart from everyone else. Save the money and actually price it to sell...you won't need the rider!!

Jul 31, 2007 02:29 PM

Bill I do believe you're right in the intent, but if still on the market after 6 weeks... doesn't seem that it was priced right (to me), or to sell :)

Pam, you are probably correct, I've sometimes seen so many riders on a sign that they dragged on the ground! I guess I'd say when they're dragging on the ground, that is just too many!

Jul 31, 2007 02:34 PM

Mary Warren

Las Vegas, NV

I'm not a lover of the sign riders...most of them lie (gasp). I agree all houses should be priced to sell :)....I've seen them that say 'Bring Offer", "Owner Motivated" ....give me a break! Price it right and it will sell!

Jul 31, 2007 03:26 PM

Janet Guilbault

Platinum Home Mortgage Company - Walnut Creek, CA

San Francisco Bay Area Direct Mortgage Lender

Catherine: I disagree with Mary and Pam. I like riders. What is wrong with riders?

To me it just gives a little tip, a little inside info. You know what else? I believe the sign when it says I'm gorgeous inside. Or priced to sell.

Although, "special low financing" might bring the most calls. Do you ever consider buying down the rate with seller credits?

Aug 01, 2007 02:20 AM

Mary, I agree with you... I'm sort of of the thought that if it was so gorgeous you wouldn't have to tell us... or that if it was priced to sell it would be sold...

though...

I see that Janet does believe the riders, so perhaps there is a need for these in the market as the public does react to them...

and Janet I do use some "special financing available" type riders that do seem to get some calls.. though most people still think that means you're giving away the house... but at least it gets them thinking...

Aug 01, 2007 06:01 AM

Christina Ethridge

The North Idaho Dream Team powered by SKE Realty Group - Coeur d'Alene, ID

The whole 'priced to sell' thing is just an attempt at a marketing ploy - does it work? I seriously doubt it. But apparently it makes the agent that uses it feel good that they are putting to work the riders they have paid for :D

Aug 03, 2007 04:59 AM

Priced to Sell ? Well now, is it?

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Catherine Myers

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