Special offer

What are your odds of selling?

By
Real Estate Agent with Novella Real Estate

Pricing Your Home to Sell...

Since the real estate market seems to be getting slow on many fronts, now more than ever it is important price a property right.  Sellers need to have a clear picture of the market and what the competition is selling at (or not!).  Graphic illustrations of the market on a Competitive Price Line Sheet, is extremely helpful.page representing the odds of selling your home

How can a listing agent go about graphically showing the seller where the list price should be?  We use a very simple tool to do this.  See Illustration to the left...

As you are compiling your Comparative Market Analysis (CMA) take the data and transfer it onto this graph.  Be sure to fill in the prices in the boxes, then make a hash mark for every home at its price intersection.  Typically I use more comps to do this than I would on a normal CMA.  Using as many as possible gives a clearer picture.

When discussing this illustration with the homeowner, it becomes very clear where the homeowner should be pricing to sell, if they are in fact motivated to sell quickly.  I always point out "the homes that didn't sell." This is where they DON'T want to end up.

Using this tool to determine a seller's ODDS OF SELLING is a graphic and strong illustration that is hard to argue with.

<I have this tool scanned, so if anyone would like a full size, print read copy, leave me a message here & I'll send you one. You can white out our logo, or come join us...the door is always open! >

NOTE: The form came from Larry Kendals Ninja Selling Class, The Group of Ft. Collins, Colorado, Thank you very much.

Last blog I talked about How to Figure Absorption Rate, in case you missed it...take a look!

Comments (34)

Teresa Boardman
Boardman Realty - Saint Paul, MN
Does this work with sellers?  i hope so because these properties are just not moving, they expire instead of selling.
Nov 16, 2006 09:51 AM
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker
KK - you're always so creative (and sneaky!). I love your little, "Oh, by the way, here's more other recent blog, in case you missed it!" Ever the effective marketer. Visual, visuals, visuals!
Nov 16, 2006 10:04 AM
Cynthia Sloop
Community Association Manager - Indianapolis, IN

kristal, may I have a copy of the graph?  It looks like it will be a useful tool.  Thanks!

csloop@callcarpenter.com

Nov 16, 2006 10:55 AM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Thanks all for your good comments. If you asked for a copy and either emailed me privately or left your email addy here, I have sent off your copy.

 If you haven't received it yet, let me know and I will try again!

 Cheers!

 kk

Nov 16, 2006 01:24 PM
Carl Guild
Carl Guild & Associates - East Hampton, CT
Central Connecticut Real Estate

Woohoo - Free Great Stuff!! - I'll take one Kristal

mail@carlguild.com 

Thank You! 

Nov 16, 2006 01:57 PM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

It's in the mail Carl.

kk

Nov 16, 2006 02:16 PM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Kristal: Add me to the growing list.
  Carol@TopPropertiesWenatchee.com

I'm in the FireFox browser.  Did that not come through as a link?  Guess you can cut and past, eh?

Thanks!

Nov 16, 2006 02:46 PM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

done Carol, you should have it now.

 I would suggest to those of you who have posted your email addys,,,REMOVE them.  The scummy scammers will be dropping by to reap them into their spam systems....

Nov 16, 2006 03:11 PM
Craig Bartels
The Indy Realty Shop - Indianapolis, IN
I would like a copy also, please send it to craig at crager-bartels dot com
Nov 16, 2006 03:39 PM
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Hey KK..... can I get one with the Dallas Cheerleaders on it?  At least make this bigger.... I can see. What?  What did you say? 

Seriously......this looks like a great tool. Good luck with it...

Nov 16, 2006 04:20 PM
Jessica Hughes
Ambiance Staging - Boulder, CO

Free, I love anything that's free!!!!  jessica@ambiance-staging.com

Even if I'm not a real estate agent ;)

Actually I've learned SOOO much from all of you here at AR, which has helped me immensly when selling myself to local brokers.  The more I can bring to the table the better......

Nov 16, 2006 04:22 PM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Craig & Jessica it's in the mail.

Jeff ~ Sorry I'm all out of the Dallas Cheerleaders one.  Sorry you don't like the Bronco Cheerleaders...oops just gave that one away too.  ;)

Nov 16, 2006 11:52 PM
Suzanne Marriott
Keller Williams Arizona Realty - Anthem, AZ
Associate Broker, CLHMS, e-PRO

Kristal - I would really appreciate a copy - thanks in advance!  I'll let you know how it works out for us!

 

Nov 17, 2006 12:31 AM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Suzanne, I need an email address, so either send it to me via AR or post it here...please!

kk

Nov 17, 2006 12:33 AM
Christine Adler
FindAHomeWithMe.com - Fort Lauderdale, FL
SE Palm Beach, Broward & NE Miami-Dade Counties FL
This is great thank you for the ideas. I hope I can make that form up. Is there anywhere I could find one?
Nov 17, 2006 07:33 AM
Anonymous
Mauricio Acevedo

Great tool... May I have a copy?

mauricio@losacevedo.com

Nov 17, 2006 07:55 AM
#31
Anonymous
Lenn Harley

Very nice.

I have done something similar for buyers to help them understand where they should be offering - not too low and not too high. 

Part of the numbers involve present SOLD / LIST percentages and the downward trend in prices in the particular area of their search. 

If things keep going the way they have been, our prices will be down approx. 15% by May 2007 from May 2006. 

Something has to get buyers out there and letting them know that low offers are not a problem is one of those things.  It's much easier in the higher price ranges.  In lower price ranges, there isn't that much wiggle room.

 

Nov 17, 2006 08:21 AM
#32
Ginger Fawcett
Live Local Real Estate Group - Kirkwood, MO
If you aren't sick of these requests yet I would really love a copy as well.  To save you time looking it up here ismy email address:  ginger@remaxginger.com
Nov 17, 2006 05:37 PM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Christine Adler ~ if you send me your email address, I will send you a copy.

Lenn ~ True the lower the price of the house the smaller the margin for reduction.

Ginger ~ Your copy is in the mail. Enjoy!

kk

Nov 18, 2006 03:31 PM
Robin Cutler and Kay Pearson, Clarkston, Michigan Real Estate
Real Estate One - Clarkston, MI

Kristal,

I don't recall getting this graph at my Ninja training and would greatly appreciate a copy that I can share with the group I work with.   Thanks much.

Feb 03, 2007 11:49 AM