There are very few markets anywhere that are going up in value at this time, so I think it's pretty safe to make a comment on something that I think will help you in your pursuit of purchasing property.

When clients ask me how much a property is selling for I generally reply, "Well, they have it listed for..."and then I tell them exactly what it is listed for.  I've realized that while "listing price" is not as solid and unchangeable as "final price" it definitely conveys a firmness that I think may give buyers the wrong impression. 

As I prefaced earlier, markets that are appreciating right now are slim indeed.  While most of the prices of condos and homes in Hawaii are not sinking into the ocean, they are not exactly on the firmest footings either. 

So, in my quest to give buyers a better understanding and comfort with the market I've started playing around with the idea that I should start responding to clients pricing inquiries with "Well, the suggested retail price is...".  Why not?  It is the truth and does explicitly represent the market that we are in.  We are in a buyers market and I think that using "suggested retail price" helps my buyers feel more comfortable in offering less than the listing price.

I'm not thinking that the formal groups that regulate the real estate industry will even give this idea much more than a nanosecond of attention, but maybe it gives some of you a slightly better grasp on the changing market we are in.

Brought to you by:  Rob Gerichs - RE/MAX Honolulu

Going Above and Beyond

(808) 284-4441 ~ www.HawaiiRob.com ~ Rob@HawaiiRob.com

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