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Guess Who REALLY Sets The True Price On Houses? Hats?

Real Estate Agent with Keller Williams Realty 0575737

May 23, 2011 12:01 PM

Funny Hat I sometimes think I see the world in too simple of terms compared to everyone making everything so darn complicated.

Guess Who Really Sets The True Price On Houses? Hats?

Well you may think the seller does since they have the product. But remember THEIRS is the fantasy price, not the real price. What they call the ASKING price. In a strong buyers market (lots of supply) the prices will fall. In a strong sellers market (lots of demand) prices will rise.

Back to Gary's simple pea brain again. See this lady with the funny hat? Well you have to admit it is funny. She would probably say stylish. Name is Princess Beatrice and she was at the Kate and William wedding. That HAT was so popular and got so many comments they auctioned it on eBay. NOW finally the auction is over. It went up and up and up in price with the bid. They thought maybe $10,000 or slightly greater. OK, let your jaw drop to the floor. Memorabilia I guess. Fetched $130,000 from an anonymous donor.

Proceeds to UNICEF and Children In Crisis. A strong Sellers market but the BUYERS again determined the price.

THINK BUYERS always in price. The new iPad2 comes out. What happens to the iPad1??? Big fire sale. Got it? Remember the funny hat lady!!!

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Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

Gita: I hope consumers finally believe this about the buyer. Each seller is in competition with other sellers.

Lloyd: The seller can hold back not sell but then it does not count, cause a transaction did not occur.

Kathy: Where do they make these hats anyway???

Paula: I see the hat in a museum too, although if it was your money that bought it you might want it at your house.

May 23, 2011 12:24 PM

Kevin J. May

Florida Supreme Realty - Hobe Sound, FL

Serving the Treasure & Paradise Coasts of Florida

Everything has it's day and price apparently. The "Pretzel" hat caused quite a stir both coming and going, going gone! All for a great cause and funny too Gary, I liked it's uniqueness but was soon outbid.

May 23, 2011 12:34 PM

William J. Archambault, Jr.

The Real Estate Investment Institute - Houston, TX

Gary,

As a Banker, as an Agent, As a Real Estate Broker, as a Mortgage Broker I've never worried about unknown agents list price. Reagan said "trust, but verifiy" it's great advice for REALTORS, too!

Regarding the hat, I've seen it several times now, I can verify it's funny!

Bill

May 23, 2011 12:45 PM

Kristine Ginsberg

Elite Staging and Redesign, LLC - Short Hills, NJ

NJ Home Stager

Gary - I'm speachless that that hat went for $130,000 - I'd remain anonomous too if I paid that amount of money for the funnist looking hat I've ever seen. However, we probably would never know who Princess Beatrice is had she not wore it so maybe she's having the last laugh!

May 23, 2011 12:49 PM

Maria Couto

RE/MAX Premier - Berkeley Heights, NJ

Realtor with "Results That "MOVE" You'

Gary, I heard that this morning, now, my jaw didn't drop but it did make me think that there has got to be a better way of my making a living.

May 23, 2011 12:51 PM

Rob Thomas

Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN

Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Gary....great point well taken.....can't believe someone would pay that! Nice post!.....Thanks!
Hope you had a great day!!!---Rob

May 23, 2011 01:01 PM

Laura S. Baker

First Weber Inc - Lake Mills, WI

Realtor (920) 728-4118, First Weber Inc

What a brain you have there Gary, not a simple pea brain but rather a clearly simple explanation I would say! With that hat analogy, I don't think anyone could get confused about who sets the price. Seriously, 130.000?

May 23, 2011 01:38 PM

Lynn B. Friedman CRS Atlanta, GA 404-617-6375

Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA

Concierge Service for Our Atlanta Sellers & Buyers

Dear GAry -

Certainly true - the market (buyers) set the price. Wherever and whatever is for sale!

Also wanted to tell you I am so excited about winning 4th place in the PhotoBloggers contest! Thanks!

Have a happy day -
Lynn

May 23, 2011 02:01 PM

Chris Canfield

Coldwell Banker Residential Brokerage - Tucson, AZ

Homes for Sale in Oro Valley and Tucson, Arizona

Hi Gary - very good post, even though it has a picture of a funny hat. : ) Glad Unicef got the proceeds of this seller's market!

May 23, 2011 02:22 PM

Steven Nickens

Hawaii Life Real Estate Brokers - Wailea, HI

R(S)GRI ABR, Maui Real Estate Hawaii

Great cause, I don't know about the hat Gary

May 23, 2011 03:01 PM

'The Diamond Group' 'A Cut Above The Rest'

The Diamond Group @ Keller Williams - Lubbock, TX

Lubbock Texas Real Estate

good for unicef, thankful that there is an anonymous nut out there. also good analogy-

May 23, 2011 03:05 PM

Ted Tyrrell

RE/MAXCamosun (Chatterton) - Victoria, BC

Selling Homes in Beautiful Victoria

Ridiculous hat, ridiculous price, but UNICEF and Children in Crisis were certainly the winners at this eBay auction.

May 23, 2011 03:11 PM

Vickie Slade

Colorado Landmark, Realtors - Boulder, CO

Service You Can Trust ~ Someone You Can Depend On

When I saw this hat, I thought..... "OMG" Beauty is definitely in the eye of the beholder. Wow!

May 23, 2011 03:38 PM

Dagny Eason

Dagny's Real Estate - Wilton, CT

Fairfield County CT, CDPE Homes For Sale and Condo

That is so great that 4130,000 went to Unicef via the hat. Thanks,Gary

May 23, 2011 04:28 PM

Jon Zolsky, Daytona Beach, FL

Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL

Buy Daytona condos for heavenly good prices

Gary,

Funny hat - serious money. So serious, that it left me speechless for a moment. I thought $10K was way over...

May 23, 2011 07:46 PM

Holly Weatherwax

Associate Broker, Momentum Realty - Reston, VA

A Great Real Estate Experience

That had made me think of Dr. Seuss...got to have a lot of confidence to wear it!

Glad that it generated that kind of money for worthwhile charities. It makes wearing it all worth it, doesn't it, Beatrice?

May 24, 2011 02:12 AM

Mike Frazier

Carousel Realty of Dyer County - Dyersburg, TN

Northwest Tennessee Realtor

Gary, that is a mighty expensive awful looking hat. You mentioned fire sale for Ipad1's. I just read that a factory making the Ipad 2's just had a fire and stopped the production line.

May 24, 2011 09:46 AM

Patricia Feager, MBA, CRS, GRI,MRP

DFW FINE PROPERTIES - Flower Mound, TX

Selling Homes Changing Lives

Gary,

Just before reading your post, I read Mary Stewart's post,

SPECIAL OLYMPICS ~ IN THEIR WORDS ~ TO INSPIRE GREATNESS
I woud much rather see people make contributions to Special Olympics than to waste that kind of money on ebay for a silly hat that isn't that important.

You make an excellent point about money and I hope others on AR would visit Mary Stewart's post, because there's something of value there that you should all see and read.

Patricia

May 24, 2011 12:24 PM

Mike Wong

Keller Williams Realty Southwest - Sugar Land, TX

Realtor: Commercial, Residential, Leasing, Invest

Funny you mention the iPad example. I told my associate Monday I wish real estate was like the iPad 2 demand.

The 1st generation iPads are being dumped at discount prices and retailers can't get rid of them. On the other hand the iPad 2 is out of stock and hard to obtain. Scalpers are charging a $150 to $300 premium for them.

May 24, 2011 04:42 PM

John Michailidis

Real Property Management of Sarasota & Manatee - Sarasota, FL

Real Property Management of Sarasota & M

That is a ridiculous hat in my opinion, but at least UNICEF will have the money to provide extravagant perks to their top executives.

May 25, 2011 10:29 AM

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