If we know anything today, it is what something is worth. Opinions abound from the Internet, the people in the neighborhood, CMA's and serious sellers. We all know what it is and what it is not by now. The point is that the biggest focus in today's Real Estate market is pricing. You cannot hide the fact that you are over-priced. Why would you even consider being over-priced?

SERIOUSLY NOW

If you have a transaction that needs to get sold, then the current market dynamics for your area is the river you must paddle in. Swimming upstream doesn't cut it. Even if the house is prime condition with amenities, it still has to meet the ready, willing and able test.

LET'S NOT RE-INVENT THE WHEEL

This test requires willing buyer and willing seller. Reverse the test to appreciate it. Supposing I under priced a home, then multiple offers would come in and a obvious sale would present itself. Through bidding, we would reach the highest and best. That would be your selling price.

COMING OUT HIGH

But to come out deliberately high, you force people to go to the only place there is to go and that is low and to me, that is wasting peoples time and energy in a market that is price driven. Makes no sense and it cause one to plainly see that the seller is not serious.

INDIFFERENT SELLERS

I meet the indifferent seller often. They don't need the money, they don't have to sell and they will entertain fabulous offers until they are moved to accept. You would think that this approach would go the way of the dinosaur by now.

READY WILLING AND ABLE IS LOOKING FOR SAME

If you want to sell, price to sell. You will have no problem attracting a buyer who wants to buy

 

Richie Alan Naggar          Ran Right Realty       Riverside, Ca

Real Estate Broker and AUTHOR of the popular "PEARLS SERIES" of books on LIFE and LOVE

Richie@RanRightRealty.com         Richie@Pearlsforthesoul.com

PEOPLE FIRST...THEN BUSINESS

 

6 Comments on FAIR MARKET VALUE TELLS THE STORY NOT YOU

AUG
21
2011

From your lips to my sellers ears.  A house in any market will sell if it is priced! My mantra! 
11:04am • #1
3 Featured Posts Outside Blog

So very true! Pricing right is definitely the key. Great points. I may copy this and send it to my sellers! Great advice!
11:06am • #2
840,970 Points 69 Featured Posts Outside Blog Called Shot Master

Elisabeth...we are joined at the hip my Real Estate sister.....

Diane...yes, spread the word and let it be said...the wicked old witch (of over-pricing) is dead
11:08am • #3
546,371 Points 121 Featured Posts Called Shot Master

Richie:  I love the listing that indicates that home is only really for sale if the Sellers can acquire their dream home.   What does that say about their current home?  Who would even want to look at the property?
11:11am • #4

Quite true. Two years ago a personal friend asked if I knew anyone who might be interested in his property. I said of course. He then said he wanted 1.5MM I told him I would let him know. I knew he didn't need the money but I didn't spend five minutes on it since I knew the property was not worth mora than 900. Smugness will get you nowhere.
11:32am • #5
840,970 Points 69 Featured Posts Outside Blog Called Shot Master

Valerie...you asking the right questions and are making the right statements...yes to all

 

Jamie...this is more typical than people realize. Even I practiced this many years ago before I became an agent. I told an eager agent at the time, sure I will sell and came up with a NO SALE price. What a mixed message that is...thank you
11:48am • #6


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