While sorting through some books I plan to donate to charity I came upon Donald Trump's Think Like a Billionaire.  I gave it one final thumb through, and paused at the the chapter titled How to Sell a House.  Written in 2004 it contains some sage advice whether you're a fan of The Donald or not.  Here is the first paragraph:

If you are selling your home and there is no or little activity, or activity but no offers, you should revisit the price.  The real estate market is volatile, and prices change daily.  I always keep in mind the saying "Old listings, like old soldiers, never die--they just fade away" when it comes to pricing.  Also, don't worry about competition; count on it--you will save yourself a lot of time.  Competition may even help you by drawing in prospective buyers within the same market."

In paragraph three Mr. Trump goes on to state:  If you have a broker, make sure he or she understands what the value of the property is to you.  But don't be too bullheaded if your broker thinks the property is worth far less than you do.  The broker should be the expert, and you're paying him or her not only for service but for advice.

This is tTrump National Golf Courseimeless advice from someone who understands the art of selling and acquiring real estate.  I dusted off the cover, and since Trump is now building multimillion dollar homes in Palos Verdes, I may enlist his help the next time I need a price reduction--the book is now in my conference room. 

The photo is of Trump National Golf Course in Rancho Palos Verdes.

36 megamillion dollar estates surrounding the golf course are under construction. 

I have the price sheet if you're interested in living in one of the most beautiful locations in Southern California.

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16 Comments on Timeless Advice on Pricing from Donald Trump

MAR
03
2008
446,194 Points 26 Featured Posts Outside Blog

Hi Norma.  Nice reading.  Great points on pricing.  I have had pretty fair success explaining this to sellers.

Rock on,

Ken
5:04pm • #1
199,383 Points 5 Featured Posts

So true, if it's priced wrong especially in this market, the home will just sit and sit!  Thanks for sharing.
5:13pm • #2
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Ken - Thank you for your comment, and by the way Naperville was my home from 1976 to 1982.
5:14pm • #3
131,509 Points 15 Featured Posts
Even the Don has his trusted Advisors. (Barrington by the way.)
5:15pm • #4
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Patricia - You are right. Buyers are very savvy and comparison shop with gusto!
5:18pm • #5
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Paul - Yes, and he has a blog too.
5:20pm • #6
119,744 Points 4 Featured Posts

Great advice and reminder to all in the real estate industry and all sellers (who especially seem to forget).
5:34pm • #7
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Joseph - Yes, the right price is important in every market.
5:37pm • #8
Thanks for sharing that Norma I enjoy his little tidbits. 
6:19pm • #9
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Linda - You're welcome and I enjoy following his remarks also.
6:31pm • #10
338,920 Points 49 Featured Posts Outside Blog
Norma, the Donald knows his stuff. Good advice is never out dated!
10:13pm • #11
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Colleen - Yes, my first thought when I read his 2004 advice on pricing was this will make a great post in 2008!
10:54pm • #12
MAR
04
2008
 Thanks for sharing that.  It's soo true.
1:24am • #13
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Sandra - It is true and it's also nice to hear it from a consumer.
9:11am • #14
148,379 Points 13 Featured Posts Outside Blog
Norma - Thanks for sharing this. He's not a bad guy to have in your corner.
4:41pm • #15
1,000,632 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master
Tom - I think his take on pricing real estate is timeless.
5:15pm • #16

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Norma Toering Palos Verdes Homes in Los Angeles Area

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Rancho Palos Verdes, CA

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South Bay Los Angeles cities I sell real estate in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.




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