I Have A Client That Came on the Market at the going Market Price.....

It's been taking as long as four months to sell townhouses in Fairfax County, VA.  I alerted my most recent seller to this before we ever went "active".

We looked at the comps together, and saw that, due to the slumping market, his home value was not what he had anticipated.  Here's where it got weird (I say sarcastically).  He actually priced his home CORRECTLY.

The first day on the market we had one agent through.  Today (day #2) another.  Tomorrow....two are scheduled.  So my client calls and asks, "Do you think I underpriced it?"  

My answer was simple.  "You put your home on the market to sell it, correct?"  He answered yes. 

... "We both looked at the market comps and knew this was the most realistic price for a buyer to pay, right?"  He answered yes. 

 ..."So you are reaping the benefit of that decision to come out of the gate at market value.  Serious buyers are out there just waiting for a home like yours.  A realistic seller, who put in new carpet, painted, isn't a short sale or a bank owned home.  I can't say for 100% certainty, but I wouldn't be surprised if you were the next townhouse in the neighborhood to sell."

Pricing correctly makes all the difference in whether you are FOR SALE or SOLD.

 

 
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6 Comments on I Have A Client That Came on the Market at the going Market Price.....

The trick is to get the agents to make offers.  Congratulations on pricing it right.

05/02/2008 07:59 PM by Cindy Jones-Offering Real Estate Service for the 21st Century in Northern VA (RE/MAX Allegiance #1 RE/MAX Company in the World)

Cindy:  I'm hopeful that with the propety generating this much interest already, that this won't take much of that "uphill" struggle I'm used to in other listings.  Nonetheless, I'm feverishly calling for feedback and chatting up the agents to find out who's serious and who's not.  It's just nice to have someone that actually takes our professional advice.

05/02/2008 08:02 PM by Chris Ann Cleland (Long & Foster)

Great! It must be nice having the seller agree with you when you looked over the comps. Hope it sells quickly.

05/02/2008 08:13 PM by Rob Muller - ABR, ASP, RCC, CNHS, LREA Cherokee County Real Estate (ReMax Town & Country)

Congrats to you for having a smart up to date seller. I hope it sells for you.

05/02/2008 08:19 PM by Mike Jackson (Realty World Global)

Chris Ann:  Great job !  You closed him.  He had an objection, and asked you the question... "Do you think I underpriced it.?  You answered his question with a question... which allowed you to take back the control from him... by asking him... "You put your home on the market to sell it, correct ?"  Great job... nice use of a good closing technique.  :)

By the way... my "graphic word" is "pimenta."  Is that a female pimento ?  I get confused to easily...

05/03/2008 12:39 AM by Fort Worth Real Estate - Karen Anne Stone (RE/MAX Trinity)

Mike:  I wish they could all be this open to the market details that are right there in front of them.

Karen Anne:  It's all about the ABCs.  Always Be Closing.  :)  I've had so much sales training that this stuff comes natural now....but I feel bad for the newer agents that don't realize how much SALES is involved in real estate.  I've sold newspaper ads, radio shows, radio ads and diamond rings.  By far, this is the most fun I've had in sales (except for maybe the diamonds) and the best fit for me. 

05/03/2008 10:23 AM by Chris Ann Cleland (Long & Foster)

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Real Estate Agent: Chris Ann Cleland (Long & Foster)
Chris Ann Cleland
Bristow, VA
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