Bottom Line Is ~ Price It Right And It Will Sell!

Hi Larry/Sheila,  Never understood why some folks just don't get that whole pricing thing.  The market decides pricing - not sellers nor agents.

Larry and Sheila, you're right, the right price will sell the house. Here in Kansas City, our average price in many neighborhoods are back to 2002 & 2003 levels.

Good one Larry & Sheila,

It's a know fact that a good price sells quicker and higher. I believe you'll get it done as you are true professionals.

Good post.

Thanks

Hey, I'm working with Joe too!  The only difference is that he's been in his house for 13 years so it is worth considerably more than what he paid.  But he STILL won't price it right.  He just doesn't want to move.

Larry and Sheila:

I have taken listing from previous clients who want to list their home for more than the comps.  None sold at the list price.  Several followed the market down and sold for less than I originally priced the home for.

And then, with those multiple price reductions you end up selling it much lower than if you had just started it at the right price to begin with! UGH....

bottom line bottom line Larry & Sheila

without pricing right, it is absolutely deifficult to get it done

thanks for sharing

jimmy phan

Good luck with your listing. I hope the seller realize and come to reality sooner than later.

When I started in sales, I was taught to find someone who was Ready, Willing and Able to buy or sell.

Your client is really not ready or willing to sell when he asks for the price he has in mind.

He lacks motivation. I find this is the central problem with most sellers today. They do not have to sell or are otherwise not motivated enough to do what needs to be done.

What I have told sellers is that I will not put them or myself through the agony of what is going to happen. They are going to be frustrated and then take it out on me. So I tell them to spare them the frustration, I am not going to list their house.

You have to believe it. I did it. They came back with a more reasonable plan and I negotiatied a price reduction in the original listing to kick in 30 days later automatically. They groaned a lot but it worked. The house sold.

So true.  We just went into contract on a $1.8mil listing that we sold in less than one week because it was priced exactly right.  It's a highrise condo building.  The place next door sold (by us) for $1.735 in October. The place above it sold for $1.757 in 2011 and another place one floor up sold for $1.8mil in 2011.  We listed the property at $1.799mil and had an accepted, all cash offer in a week.  Why?  Because it was priced right!

Amen, yet how many agents accept overpriced listings?

Great Post.  So true.  Pricing it right from the start would be best.  Joe is gonna loose even more money this way.

We've all heard the excuses but your  Topic says it all....

There are a lot of people in Joe's shoes. It's important for us to educate them on their options and help them come up with a solution that is best for them. Good luck!

As Realtor's however, we must not forget that our job is to help illustrate the value of a home and not sell it as a commodity!  The reason the might sell for a premium is the condition, the view, the quality, the location.  Of course, if you don't give credit for those and price it low, it will sell faster but that would be doing an injustice to your seller.

I don't try to have the least days on market on my listings.  I try to obtain the best "value" for my sellers by understanding their motivation, their timelines, and base my pricing on those factors with our current market conditions.

Best of wishes for 2012 from Boise!

Hi Larry & Sheila, without a doubt, the old mantra of location, location, location had been replaced by price, price, price.

So very true...AND as an investor/rehabber, I have the luxury of telling sellers that I would never have them do anything I wouldn't do personally. 

1.) I list with an agent and pay a commission, because you're CRAZY to not have your home on the MLS.

2.) I don't list until EVERY possible obstacle or complaint from a buyer is removed.

3.) I STAGE every single home I sell, because it WORKS.

4.) I PRICE IT RIGHT, and my average days on market is less than 30 days...with the last 3 this year selling in 28 days, 8 days, and 1 day respectively.

It's a simple business really.  Make it the nicest house in the neighborhood, and price it for the same price as similar homes in the area, and it will sell like lightning.