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"The Comparitable Market Analysis shows what?"  Said the prospective clients during our listing interview a week back.  We had prepared a thorough CMA and also provided statistics on

- active similiar homes in the area

- price per square foot (high/average/low)

- days on market (same as above)

- those pending and the same stats

"That can't be right - we have put all this work into the home recently and 2 years ago it appraised for X!" 

Well, while the Clarksville Real Estate Market has not seen a decrease in price due to inflated valuation, we have seen a steady state on values of homes - this partially because of the economy and partially because we are a Military Real Estate Market and thus have ebs and flows.

"We certainly thought that the home is worth X, we have a few other Realtors coming by, thank you for the information, we will get back to you" 

We stuck to our guns on this as the numbers dont lie.  As many of you have told me - "Price the home right the FIRST time" 

RING RING!!!  RING RING!!! "Hi, this is Mr. Prospect, just wanted to give you the courtesy of informing you we are going with Triple AAA Real Estate.   While we interviewed five other clients we decided to go with Triple AAA because they agreed that our house could sell for X.  Just wanted to let you know and to also let you know that you were the only one other than Triple AAA that did not preach DOOM AND GLOOM"

Well, I said, we certainly appreciate the opportunity to interview and hope that your home sells quickly.

"Oh, we are not worried about it, we have time.  If, in three months it does not sell for X we will reduce it to the price you had given"

Again, we wish you well.

END OF STORY-------------------------------------------------------------

Now folks, that is a true story of what transpired.  While the names and prices have been changed to protect the innocent it gives you a pretty good idea of what went down.  Some would think I should be upset - not really, actually not at all.  I do not want any overpriced homes and I WILL NOT be dishonest or exagerate in order to get a listing - it just is not worth it.

If you want a thorough and honest assessment of your home's value in the Clarksville Tennessee area, the we would like to speak with you.  There are many Realtors in Clarskville that will echo that statement as well as to live by it.

If you are looking for that one agent that will list for whatever price you believe your home is worth regardless of the analyitical information presented, then we wish you all the best.  It is not only about putting a sign in the yard and bragging about how many listing you have - it is about working for your clients and getting the job done. 

Tim and Pam Cash

Crye-Leike Clarksville

 

 

 
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6 Comments on Lost a Listing today

Tim, I'm with you!!  I have lost many a listing because they didn't like my pricing.  I often follow them and they usually end up selling a year or two later for the price I told them.  I'm just thrilled that I didn't have that year of grief.

07/22/2008 06:11 PM by Marchel Peterson Spring TX Real Estate E-Pro ABR (Results Realty)


Tim & Pam - That really sucks!  There are some companies/agents that will allow over priced homes to go on the market, knowing very well it's not going to get one showing.  It becomes another agents "problem" if you would, after the property has been on the market for 200+ days.  It is a lose lose situation, because the sellers are getting a false sense of reality.  I'm sorry again, I wish you both luck....stick to your guns.

Stan Barsch

07/22/2008 06:14 PM by Stanley Barsch, REALTORĀ® (Long & Foster Realtors)


Tim~  Hey!  Also think about all of the money and time you are saving by not having to pay for the marketing of something that isn't going to sell because it IS OVERPRICED!

07/22/2008 06:17 PM by Owensboro KY Real Estate Specialist Vickie McCartney Broker,ASP,ABR (Home Realty GMAC Real Estate Owensboro Kentucky)


Great Job Tim & Pam !!!! Stick to your guns and who knows.. maybe you will get it on round two !

07/22/2008 07:10 PM by Roland Woodworth "Fort Campbell Area Realtor" (Exit Realty Clarksville)


Marchel - I am sure it wont be the last that we lose, but I will sleep good at night

Stanley - Very good point.  By the time the second listing agent is signed on the seller is most likely stressed and ready for results

Vickie - We all know we need to target our marketing dollars - I agree that we can use that toward a better marketing strategy.

Roland - thanks for your support!  Much appreciated.

07/22/2008 07:21 PM by Tim and Pam Cash - Clarksville TN Real Estate Professionals (Crye-Leike (Sango))


Good Job Pam and Tim.  It is really hard to get sellers to understand this concept, but in the long run, not taking the listing that is overpriced is better for you.  You spend more money and time than it is worth.  Sure, you should get buyer calls, but you will pay out more in marketing than those buyer leads are worth.

07/22/2008 11:06 PM by Deb Wilson, Clarksville TN Realtor (Crye-Leike Realtors)


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Real Estate Agent: Tim  and Pam Cash - Clarksville TN Real Estate Professionals (Crye-Leike (Sango))
Tim and Pam Cash - Clarksville TN Real Estate Professionals
Clarksville, TN
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Crye-Leike (Sango)

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