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From Chad's Blog: How an Aged Listing is A Lot Like Rotten Meat

By Chad Board

Real Estate Agent with Keller Williams Hope Realty

September 29, 2010 07:42 AM

This past weekend marked a momentous event. My mother-in-law (who I must add is an extraordinary woman) turned an age that ends with a 0 and starts with a 6. (No, not 600.)

We had a great celebration. My wife's grandparents came to town and we celebrated my mother-in-law's amazing life, generosity, and ever increasing wisdom. We watched a slide show that included embarrassing pictures of my wife in middle school, so that was a blast. (Imagine my wife now punching me in the arm.) And we reflected on getting older.

My mother-in-law has aged gracefully. She has continued to learn. She challenges herself daily to help others and to live an outstanding life. She is well poised to enjoy great years going forward.

However, aging well is not a given. Some things age well and others don't. Cheese ages well. A fine wine only gets better with time. A painting by Picasso or Monet only gets more valuable with each passing year.

Contrast these items with things that DO NOT age well:

Broccoli
Milk left on the counter
Bananas
Popcorn left out all night
Meat that is not refrigerated
Real estate listing

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Alan May

Jameson Sotheby's International Realty - Evanston, IL

Home is where the hearth is.

I can actually "smell" that photo of the bull. Ewwwwww

Sep 29, 2010 09:05 AM

Peggy Noel

RE/MAX Commonwealth - Chesterfield, VA

Bouchard, ABR, CDPE, SFR

Chad -
I have to agreewith you - I actually became an agent to sell one of my proeprties that my regular agent hadn't been able to sell in 2 years - Imagine my surprise when I did a CMA and found I was way overpriced. Great post!

Sep 29, 2010 09:11 AM

Mindy Sylvester

MVP Realty - Naples, FL

Naples Fl Real Estate

"Best Title of the Day" award goes to...

Sep 29, 2010 09:14 AM

Bob & Carolin Benjamin

Benjamin Realty LLC - Gold Canyon, AZ

East Phoenix Arizona Homes

Unfortunately some sellers do not get this concept -- once they are "stale" they only keep getting staler.

Gretchen Karr

Berkshire Hathaway Homesale Realty - Lancaster, PA

Realtor

I couldn't agree more with you Chad. Pricing the home right the first time is key to save time and money!

Sep 29, 2010 09:19 AM

Gay E. Rosen

Julia B. Fee Sotheby's International Realty - Larchmont, NY

As Real as Real Estate Gets!

I loved Doug's comments.... on the 1 Thousand Dollar reduction - all at once or a little at a time.. priceless! Yes, homes must be priced well... Best, Gay

Sep 29, 2010 09:24 AM

Anonymous

Irene Bilinski

It seems that everyone is a real estate expert and know how much every house is worth on their street. Theirs the only one that worth more LOL.

Thanks for the post and I will be printing it and adding it to my listing presentation.

Sep 29, 2010 09:29 AM

#13

Chad Board

Keller Williams Hope Realty - Colorado Springs, CO

Thanks for the great kudos everyone. That bull is definitely rank Alan.

Sep 29, 2010 10:27 AM

Lorraine or Loretta Kratz

Crescent Moon Realty, Inc. & Land N Sea Auctions. - San Marcos, CA

Certified Negotiation Consultants

Really enjoyed your post, and your way of explaining it is humorous and aptly put.

Sep 29, 2010 10:52 AM

Barb Szabo, CRS

RE/MAX Above & Beyond - Cleveland, OH

E-pro Realtor, Cleveland Ohio Homes

Great title and analogy of the life of a real estate listing!! First it gets stale though and then it rots on the vine.

Sep 29, 2010 12:03 PM

Ross Therrien

Prudential Verani Realty, Londonderry,New Hampshire - Londonderry, NH

Realtor, Broker Associate

Sometimes you need to freeze the meat till another time.

Sep 29, 2010 12:47 PM

That is a good point Ross. Sometimes you do need to freeze a property and wait for later and it is our job as agents to help our clients see that too.

Sep 29, 2010 01:08 PM

Vickie McCartney

Maverick Realty - Owensboro, KY

Broker, Real Estate Agent Owensboro KY

Hi Chad~ Unfortuantely there are some sellers that have to learn this the hard way because they wouldn't listen to their agent!

Sep 29, 2010 02:44 PM

Carla Reeves

Village Properties - Santa Barbara, CA

Ouch....I didn't know that 60 is "aged"...even if "aged well". Bite your tongue young man...it will happen to you also...sooner than you think!

With regards to the "aged" listing...you are right on...and that's coming from a well aged agent!

Sep 29, 2010 02:56 PM

Eddie Brown

Eddie Brown ~ FM Realty a Long & Foster Company/ Raleigh NC - Raleigh, NC

Chad...you hit he bulls eye....every day a listing sits on the market past 30 days, the value of the property starts to decline as well as the value of the REALTOR whose name is on the yard sign....even in the best of markets.

Sep 30, 2010 02:34 AM

Carolyn Schoemer

What a great analogy! I kept thinking of the old commercial that was such a huge success "where's the beef?" I put a listing on 2 weeks ago staged with new carpet and the best priced condo in the complex and we had multiple offers - whoopee! If only they would all be like that. The scary part is sometimes I have gotten the price wrong and I've been pricing properties for over 20 years!

Sep 30, 2010 04:44 AM

#22

Gwen Banta

Sotheby's International Realty - Los Angeles, CA

I plan to pass this on to a few of my most stubborn clients. Sometimes they just need to hear the truth from someone else! Thanks, Chad.

Sep 30, 2010 10:45 AM

Veronica Huerta

SCA Real Estate - Ocean Beach, CA

I love the title and post. I wonder how many of these types of posts it is going to take for people to realize correct pricing matters lol

Oct 01, 2010 08:14 AM

Vickie Slade

Colorado Landmark, Realtors - Boulder, CO

Service You Can Trust ~ Someone You Can Depend On

Chad, you are so right about aged listings. But, your mother-in-law sounds like a wonderful woman. You are so fortunate to have such a role model in your family.

By the way, did you make it to the Keller Williams Summit recently in Keystone?

Oct 08, 2010 09:35 AM

My mother in law is an absolutely amazing woman Vickie. I was not at Summit. I am helping coach my son's football team and had to be here in Colorado Springs for practice and the game.

Oct 08, 2010 10:17 AM

From Chad's Blog: How an Aged Listing is A Lot Like Rotten Meat

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