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Helping a Seller understand the current market.

By
Real Estate Agent with Remax north Professionals
I recently had a property that was listed way above my CMA because several years ago she was told her property was worth that price.  I presented her with proof of current active, pending and sold listing that was not supporting that price.  I ended up needing to drive her around to show her the current property.  This worked and she lowered her price to my recommended price and we received 3 offers the following week and should be closing in 4 weeks.   I believe we are going to find our clients needing us to educate them before they list the need to price the home correctly so that in the long run it will save them money and sell their property.
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Tracie,

Good work, and yes education is the key for both our buyers and sellers most of the time.  Good thing she took your counsel, you did a great service for your client.

Apr 29, 2007 10:25 AM
John Caylor
Infinity Financial Group - Post Falls, ID
Post Falls, ID Mortgages
Great job Tracie...I have to agree that education is key, especially in today's market.
Apr 29, 2007 10:37 AM
Fran Gatti
RE/MAX Integrity - Medford, OR
Managing Principal Broker - RE/MAX Integrity

Tracie,

Good idea.  I have had someone else say they have resorted to driving their clients to listings their over-priced home was competing against.  They said it resulted in a price reduction and a sale. 

Good post,

Fran

Apr 29, 2007 10:43 AM
Sheri Sanders
Berkshire Hathaway C Dan Joyner Realtors - Easley, SC
Realtor/Broker - Easley, SC Real Estate
This seems to have worked better for you than it did for me.  I showed my client competing properties and she STILL insisted that her's is priced right!
Apr 29, 2007 10:47 AM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate
Great idea, I have thought about it...............thought............but who has time ?? I may still do it on one of my listings to see if it works.
Apr 29, 2007 10:58 AM
Loretta Carson
First National Reatly, INC - Southaven, MS
CARSON-O'CONNER HOME GROUP
When your seller is the highest house in the subdivision they sell the lower price houses. You have to give the knowledge to make a good decisions
Apr 29, 2007 11:04 AM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
Good post....I agree, you have to educate both your buyers and sellers in todays market. 
May 20, 2007 09:32 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Tracie,

Your post was several months ago, but first time I saw it. Timeless information, it's still true today. Thanks.

Feb 25, 2009 09:59 AM