Special offer

Marketing your home for all it's worth: Determination of listing price

By
Real Estate Agent with Coldwell Banker

As we prepare for our listings to sell sometimes the painfully basic initiation process can be the most important.

Recently, I was looking at a graph from twenty years ago. The graph was a parabola that had an ascending slope to a point where it topped off and went downhill. Downhill-an ambiguous word indeed. The graph explained that most buyers would look at and purchase the home within thew first three weeks. The assumption in this graph has certainly changed with the times. Variables are in place like economic conditions, supply and demand, and an adjusting market.

However, just as technology has become so good for us that are Realtors, and the resources we have at our fingertips to see properties sold is better than ever. I have learned some pretty important lessons in Real Estate. One of the most important is pricing the home, and making the sincere adjustments when necessary.

Often, Sellers can take on a Broker that will give them the highest list price, or they have a hard time with detachment of their home versa the blatant reality that their neighbors home may be priced more than theirs because factors such as size, condition, and more.

The hardest obstacle I had to overcome when I entered Real Estate was when the Seller would say, 'This is where we want it priced, let's start a lot higher, because we can always come down." I never wished to insult anyone, but walls did go up when I told Sellers that buyers may  not see it the way they saw their home, and unless we did a concise market we may be doing ourselves a real injustice. I have walked away from lots of listings, but the ones I did take did sell. Hard work, perseverance, and being able to step back and look at anything else that could benefit my Sellers move.

I am proud of the idea that my Sellers and I would get our game plan worked out together, and we accomplished our goals.

Do you want your home sold? Are you looking for a Broker that will put his heart and soul into seeing you to a successful closing? Do you want superior service, cutting edge technology,, communications skills that are second to none? Do you want a Broker that will be ecstatic about working for you, and will give you service, and work like crazy for you?

I would like to apply for the job. Call me, my name is Tom Braatz and I welcome an interview.

Have a productive day, and I will see you at closing!

Tom Braatz

 

 

 

262-377-1459 tom@tombraatz.com www.activerain.com/tommybraatz  www.localism.com then Wisconsin, then Milwaukee County, then about

 

Comments (6)

Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

We're on the same map...page...graph....we don't buy listings either as you know...wish it was illegal...hmmmm....Realtors' Jail....I LIKE IT !

May 10, 2008 07:09 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Tom. you and I have the same philosophy. List to sell, not list to sit. REALTORS that buy listings and price too high waste time and their marketing dollars.

May 10, 2008 07:50 AM
Randy L. Prothero
eXp Realty - Hollister, MO
Missouri REALTOR, (808) 384-5645

In the past, I had to walk away from a couple of listings, because another broker was willing to list it for a ridiculously high price.  I am finding sellers not falling for that, mostly because of the negative news media.  Most are realizing they need the best agent not the one willing to list at the highest bid. (Most sellers, not all).

May 10, 2008 07:53 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I lost a listing a couple months ago, which doesn't happen very often. I gave the seller all the stats and covered the game plan to sell. He took my property profile and threw it on the floor. I was aghast. I never even mentioned a suggested price to him. He told me it didn't matter what my property profile disclosed or what the comparable sales showed, he had already figured out an average per-square-foot cost and came up with a list price, which was too high.

A week after we met, he called to say he had decided to list with a competitor because the competitor did not try to inform him or discuss with him market conditions. In fact, the competitor told him it didn't matter what the list price was because he would leave it on the market as long as it took to get it sold!

Of course, that home is still on the market. I see the listing agent is holding it open every Saturday and Sunday. I'm confident he's getting a lot of buyers for other homes, which he is then selling to those buyers. And that's why he took the listing. He didn't take it to sell it. So who is hurt by this practice? The seller gets what he wants, and so does the listing agent. Too bad none of those wants involve actually selling his home, though.

May 10, 2008 09:56 AM
James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes
Real Living | At Home - Washington, DC
When Looking to Buy or Sell - Make the Right Move

It is still amazing to me how agents will tell a home owner a price higher than market value; only to "get the listing".  Then they spend the next 6 months telling the seller to lower the price.

May 10, 2008 02:28 PM
Carol Culkin
Diamond Partners Inc - Overland Park, KS
Overland Park Residential Real Estate

Tom - There you have it, "Do you want your home sold"? Too often sellers are caught up with the pageantry of showcasing their home and seeing it advertised with a high price tag. As agents, we have to help them dispel their fantasies and direct them towards reality. And, I think some sellers actually "get it", but maybe pride forces them to want to "see" the visual of their fantasy by suggesting to start high and being prepared to drop the price.  

May 11, 2008 04:08 AM