First Impressions Matter But Second Chances Provide Opportunity Too

 

First Impressions Matter But Second Chances Provide Opportunity Too -- Maybe a Sale! Contact Realtor Michael Jacobs 818.516.4393 cell for results

 

 

In our current competitive Pasadena CA real estate market, properties that come on the market---ready for sale --- either due to a superior or highly sought after location, priced within the three best in their marketplace and in "ready to sell" condition are always desired by today's "real buyers". Often times, there will be multiple offers and a sales price in excess of the list price.



But even in this Sellers Real Estate Market there are properties that are not selling and a price reduction may be necessary.   As far as price reductions --- the old and familiar saying -- there’s only one chance to make a first impression....well if you have or need a second chance --- make sure your price adjustment makes an impact.   

A small or insignificant price reduction simply will not get the attention of the Realtors or the savvy buyers.   It makes a seller, in my opinion, seem weak.   Make your price reduction significant or don’t make it all and ask yourself the honest question -- why are we selling?   Don’t -- do not -- make a $5,000 price reduction on a a $500,000 home.   Don’t you think a homebuyer in this market will consider an offer at $495,000 if your home has been on the market and has not sold within a reasonable amount of time - ask me about “reasonable in our current market”  --  This is not the market to “test the waters”.   Reductions that draw attention may even bring the sellers multiple offers where no acceptable offers previously existed.

If you are interested in selling your Pasadena or San Gabriel Valley property -- let’s do it right from the start -- first impressions do count but   
if you do have a second chance --- make the impression that you are ready to sell.

Let’s discuss the possibilities - contact me at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.    

First Impressions Matter But Second Chances Provide Opportunity Too

Michael Jacobs

Coldwell Banker Residential Brokerage

DRE # 01165532

2065 Huntington Drive

San Marino, California 91108

Cellular:  818.516.4393

Office:  626.685.5246

Office Fax:  626.568.9507

michaeljacobs@coldwellbanker.com

www.camoves.com/michael.jacobs

 

 

 
This post has been included in California Real Estate News Los Angeles County, CA Real Estate News Pasadena, CA Real Estate News
Post is included in group: Bartender, Make it a Double
Post is included in group: CALIFORNIA REAL ESTATE
Post is included in group: ActiveRain Contests
Post is included in group: Realtors®
Post is included in group: All Real Estate - Today & Tomorrow

24 Comments on First Impressions Matter But Second Chances Provide Opportunity Too

20 Most Recent Comments Displayed Show All

MAR
15
729,877 Points 103 Featured Posts Outside Blog Called Shot Master

Hi Michael - Excellent point. The price reductions thta really annoy me are the little piddling ones designed only to pop the listing up on MLS alerts for price reductions. We all know the home is there, we haven't forgotten it, and we still think it's way overpriced, so being reminded isn't going to help. Make it significant and maybe we'll take a look.
10:09am • #5
781,419 Points 38 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great advice...I see these $2000 price reductions and I think how ridiculous they are.  It really does make the seller look foolish.
10:17am • #6
987,952 Points 82 Featured Posts Called Shot Master

Great advice Michael.  A price reduction needs to be substantial in order for it to get noticed and not have the sellers look foolish.  That's the way to get that "Sold" sign hung.
10:50am • #7
590,158 Points 58 Featured Posts Outside Blog Called Shot Master

Dick - I completely agree with those tiny reductions where the listing agent thinks it will get the attention of agents or potential buyers -- just silly.

Sharon - foolish and maybe desperate.

Roger - and having the SOLD sign posted and the closing check in the seller's account is the true goal.   
11:06am • #8
252,320 Points 5 Featured Posts Outside Blog Called Shot Master

Michael, you are so on target with this-you do get one chance to make a first impression and that is in the price class in which you are selling.  However, when you reduce your price, it needs to make sense-make an impact-so that you are drawing in buyers who could not afford to buy your house the first time around.  SUGGESTED.
11:20am • #9
590,158 Points 58 Featured Posts Outside Blog Called Shot Master

Joanna - thanks for the suggest -- sometimes it may not be a question of affordability but the lack of willingness to buy at a certain price because the buyer does not see the value.  Sometimes a list price is realistic - sometimes it's a wish or dream and sometimes it's almost like an auction and is the "starting" price.    It's best to be right from the start but if you have a second chance -- make sure it's a price that will get noticed.    Thanks as always for stopping by and commenting. 
11:25am • #10
8 Featured Posts Outside Blog Called Shot Master

Michael. excellent advice and suggested.  Pasadena buyers need Michael Jacobs looking out for their interests.
11:45am • #11
639,487 Points 53 Featured Posts Outside Blog Called Shot Master

Michael.  Very good advice for sellers who's homes aren't moving.  A few thousand doesnt mean much in the grand scheme of things.
1:00pm • #12
928,362 Points 13 Featured Posts Called Shot Master

Michael,

This is an excellent point, and I agree it makes the seller look weak, and does the same for the agent...Love the shot with your sign.  A
2:02pm • #13
1,519,648 Points 112 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Love this post.  And your words about significant price reductions are so true.  If you don't make one significant one, you'll make a tiny one after a tiny one and the buyers will begin to EXPECT them.
2:29pm • #14
1,519,648 Points 112 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Featured in the group:  BARTENDER, MAKE IT A DOUBLE.
2:30pm • #15
590,158 Points 58 Featured Posts Outside Blog Called Shot Master

Scott - thanks for the kind words

Belinda - depending on price point a few thousand dollar reduction may send the wrong message to potential buyers

Alexandra and Ron - thanks -- by the way -- anytime I can show a SOLD sign rider on one of my listings --- I will gladly share.

Chris Ann - you are so right about those tiny reductions -- some sellers must think this is an effective strategy -- it's like a leaky faucet that is not fixed correctly -- it's really annoying -- drip drop drip drop.

Chris Ann - thanks very much for the highlight within the Bartender Make It A Double group -- as you know it's one of my favorites.
3:07pm • #16
447,309 Points 72 Featured Posts Outside Blog Called Shot Master

Michael, The price reduction needs to be appropriate for the price of the house. A tiny reduction usually doesn't work.
3:52pm • #17
708,843 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Michael great wisdom in this post I hope your Sellers are reading and Listening!!
4:37pm • #18
590,158 Points 58 Featured Posts Outside Blog Called Shot Master

Debbie - size matters -- that is the size of the reduction -- tiny typically doesn't cut it.

Endre - very kind of you to say.  Cheers!
4:43pm • #19
403,321 Points 8 Featured Posts Outside Blog Called Shot Master

Michael - Great advice for any sellers that needs to get their home sold and is ready to make a price reduction!
6:48pm • #20
479,096 Points 11 Featured Posts Outside Blog Called Shot Master

Something that all Seller Agents should consider when advising a seller on a price reduction - thank you Michael for sharing your wisdom!
8:27pm • #21
590,158 Points 58 Featured Posts Outside Blog Called Shot Master

Laura - it's not easy but anything truly worthwhile is rarely easy.

Joy - I think sometimes agents are afraid to speak the truth.   I ask buyers/sellers in difficult situations if I have their permission to speak the truth - even if it is something they may not want to hear.   It gives them power.   
9:20pm • #22
MAR
16
563,973 Points 17 Featured Posts Called Shot Master
I agree - making a $5000 price reduction on a $300,000 home will not spur buyers; it needs to be meaningful to the BUYER!
2:56am • #23
590,158 Points 58 Featured Posts Outside Blog Called Shot Master

Carol - so true - in the mind of the real and ready-to-purchase buyer, that type of reduction would typically result in laughter and a resounding "you're kidding?" response.   
3:32am • #24

20 Most Recent Comments Displayed Show All


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Unknown Rainmaker_large

Michael Jacobs, Pasadena CA/SanGabriel Valley Realtor, 818.516.4393 cell

Pasadena, CA

More about me…

Coldwell Banker Residential Real Estate

Address: 2065 Huntington Drive, San Marino, CA, 91108

Office Phone: (626) 685-5246

Cell Phone: (818) 516-4393

Email Me

Your source for real estate representation in the San Gabriel Valley and northeast communities of the city of Los Angeles including: Pasadena, Altadena, South Pasadena, San Marino, Alhambra, San Gabriel, Temple City, Arcadia, Sierra Madre, Monrovia, Duarte, Bradbury, Azusa, Glendora, Claremont, Glendale and La Canada Flintridge as well as Highland Park, Monterey Hills, Eagle Rock, Mt Washington, Montecito Heights, Glassell Park and Sagamore Park.


Listings

Links

Archives

RSS 2.0 Feed for this blog