Listing real estate is all about the price, but I’m not telling you something you didn’t already know!!  The greatest challenge listing agents have is to convince an emotionally filled seller that the home he cherishes is worth “x” amount of dollars. 

We know that buyers dictate what the market is; buyers are the controlling factor; buyers buy on comparison; and buyers set the pace.  If your property is not making the cut, you’re not listed at the right price.  Someone else is more competitively priced.

Where does this leave a listing agent?  We call ourselves marketing agents, but when a home is priced to sell, MLS is really the only marketing source that’s needed.  A properly priced piece of real estate in MLS is shown immediately and sold within hours. 

We always know within the first ten days whether a property is overpriced, and by how much money, depending on the activity and how quickly that flow of buyers ends.  If the flow continues, the home will sell soon; if the flow stops, the price should be adjusted quickly.  Now all you have to do is convince the seller of this information. 

Listing agents have many tasks to perform properly.  The first and most important is pricing the property to sell.  If that task can be accomplished, the job of the listing agent will be to "keep order" within the home during the mad rush of potential buyers who want to see it and own it.  Price the home properly and you can call yourself a “proctor” because you'll never have the opportunity to market it!! 

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101 Comments on Price It To Sell And MLS Is The Only Marketing Needed...

20 Most Recent Comments Displayed Show All

JUN
27
213,929 Points 2 Featured Posts

Another way to talk about having the right price is the right price for the condition!  This is the one sellers stumble on sometimes.  Which house can be priced higer, the updated one or the one not updated?

  Which one can be priced higher, the immaculate one or the one the tenants just moved out of? 

Which one will get more traffic, the clean, decluttered, staged home, or the one with the lived in look???

 
1:44pm • #82
1,522,168 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

yes, Beverly, condition should be reflected in the price.... every home is  not in mint condition and those that are in need of repair or just cleaning should be priced lower....
1:46pm • #83
563,082 Points 10 Featured Posts Outside Blog Called Shot Master
Tee hee Barbara, YOU would be head of our BRG marketing team...you have the best marketing plan and ideas... Your builders and sellers are sooo lucky to have you.
2:00pm • #84
706,416 Points 56 Featured Posts Outside Blog Called Shot Master

Good Afternoon Barbara, I agree that price can cure most factors but there is a but. I am a big listing agent and what is left out is the service part. The seller needs to know how i reached the price and why i reached that price. There are many kinds of sellers who need from "very little" servicing to major servicing and care. If i do it right, the listing will lead to sales which leads to more listings.  If i just priced everythng low and hope and pray they sell in MLS i wouldnt be needed. Then there is making sure the sale closes.  So yes price is the basis of all sales but these days finding a buyer is easier than getting them to close. So what do i mean to say.... that listing agents do more than price properties low and wait for them to sell in MLS. Have a great day.
2:14pm • #85
1,522,168 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

thanks, Rene..... I'm lucky to have my team members, especially Lorraine.... when you least expect it, I may sitting on your inviting front porch!!! 

Scott.... if you price it right, there is no waiting....it will have an accepted offer and you finish the deal....as you are finishing the deal, you market that to your advantage to get other listings.... I want all of our listings to sell quickly and I'll market every opportunity that arises from each pending sale......that marketing will produce more business....and we'll hopefully be able to price that properly.....servicing is part of the package....the work doesn't start until there's an offer accepted.....then the real work begins....especially with new construction.....you know that.
2:47pm • #86
796,330 Points Outside Blog

Hi Barbara.

You do know your business and it shows.

A great post indeed.
2:50pm • #87
1,522,168 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

thank you, Joshua..... that was nice of you to say that....
3:04pm • #88
425,634 Points Outside Blog

Couldn't agree more Barbara. It truly is that simple! Great post, and best of luck to you.
3:15pm • #89
1,522,168 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

thanks, Adam....
3:47pm • #90
859,692 Points 8 Featured Posts Outside Blog Called Shot Master

I completely agree, Barbara...at the end of the day, it really does boil down to price. No matter what the quirk a particular home may have, whether it be a funky floorplan or noisy location, if you set the price to compensate that, it will sell. :)

Leilani
3:58pm • #91
763,730 Points 107 Featured Posts Outside Blog Called Shot Master

I agree with Corinne here and my market is doing very well right now.

I see bad photos all the time. I go in, list them with professional photos and they sell. I may even list them at the same price. I'll give you two examples.

I listed a home last month that had been previously listed with a flat fee broker for 8 months. Terrible photos, no nibbles. I put it on the market with professional photos at the same exact price and we had multiple offers the first weekend.

Example #2, is a property that I priced right-on with the most recent comps. Once again, professional photos. We got lots of showings and even lots of second showings. It was 60 days on the market and we were about to drop the price, we received multiple offers prior to the price adjustment. After 60 days on the market. It closed on Monday for near asking price.

I priced it right but it still took two months to sell and with multiple offers at that.
4:09pm • #92
1,522,168 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Leilani.... yes, that's right.... have a nice evening....

Tammie.... I believe you and I understand completely what you and corrine are saying....I've never experienced that....we don't do sloppy work...our photos are good quality.... my content is done well....virtual tour on every listing.... if it's priced right, it sells quickly without any marketing.... that's all I'm trying to say.... in my marketplace, agent will show everything new in whatever price range they client is looking.... the lousy photos will not prevent a sale here....but, once again, we haven't experienced that.
4:20pm • #93
862,844 Points 174 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I rarely get clients who understand this mantra but when they do, it's a blessing.  One seller I have dropped the price in 2 weeks and we're three weeks later with another reduction.  If it isn't sold, the price is too high and price overcomes all sins.
4:45pm • #94
1,522,168 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Bryan..... Amen....
4:47pm • #95
620,671 Points 97 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I agree that pricing a property correctly is what is going to get it sold.  Although the MLS is the major source for those who have buyers agents, I do believe that marketing still holds value :) and I know you do too!  Pricing is the most important however :)!  Great post as usual Barabara!
5:37pm • #96
1,522,168 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Brenda..... there's always value to marketing, but if it's priced right, there's no need to market....there won't be any time because the house will already be sold..... I guess you could look for backup offers by marketing.....I'd be marketing for more listings....
5:48pm • #97
479,254 Points 11 Featured Posts Outside Blog Called Shot Master

I couldn't wait to read your answer to "cap't Bill's" #34 feedback.  I have to say I do more than price my homes correctly and do heavy radio marketing, but it's not to sell my homes - rather it is to attract sellers to call me to represent them.  I also find there are so many "FREE" or almost Free ways to promote a property that helps me keep my branding. . .

I enjoyed your post, but disagree a little, there is no doubt a price right home only needs to be marketed in the MLS, but I think marketing helps make the brand.
6:49pm • #98
1,352,557 Points 42 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Barbara - Sometimes it is hard to convince the seller of what the true value is.  It's definitely an extremely important component of our job.
11:37pm • #99
JUN
28
423,858 Points 16 Featured Posts Called Shot Master

True, correct pricing and the mls will get every home sold, of course with some additional marketing you may get that correct price up a little higher. 

I am always amazed at the huge prices the hard selling timeshare salespeople get with a few hours of intense selling. Yet to sell a home this way may not work as you would need to have seller financing due to the fact that the home probably would not appraise high enough to get bank financing.
3:53am • #100
JUL
10

While pricing a property correctly is absolutely the most important factor to getting a home sold, I wouldn't underestimate the power of other factors which can often be very important.  As an agent and professional photographer, I know that more than 90% of buyers find their homes online.  So, imagine potential buyers scrolling down the listings on their favorite website (think realtor.com, trulia, zillow, etc.).  While your listing might have been syndicated from the MLS to all of these sites, rest assured that even if priced right, you stand a much better chance of getting noticed if you have stunning photography of a home to make it stand out.  Recently, I was shocked at how poor the great majority of photos were on my local MLS.  It didn't take me more than a few moments to find dozens of shameful photos.  I ask myself if the agents listing these homes are really doing their jobs for their clients if they are certainly not presenting the homes in the best possible light.  Check out my experience:

http://www.s18photography.com/2012/06/28/marlton-nj-photographer/fantastically-awful-mls-photos/

It was no problem at all to find slews of poor quality photos such as this.  Again, while pricing is paramount, agents ought not ignore the other details that go into marketing a home properly.
6:06pm • #101

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Barbara Todaro "New Franklin MA Homes"

Franklin, MA

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RE/MAX Executive Realty

Address: 445 Franklin Village Drive, Franklin, Ma, 02038

Office Phone: (508) 520-9881

Cell Phone: (508) 918-9148

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The Kuney-Todaro Team is the "#1 team in Franklin's #1 office." Our expertise is in marketing new construction and resale properties. New construction is our niche and we have sold 40 subdivisions in the area of Franklin MA.


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