Selling your home should not be a mystery when you have it priced properly and have selected an agent that knows how to create an online presence for you. A proper price and a coordinated marketing effort are the two most important factors that will lead to a successful sale. Have fun while I read your mind.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I don't know you either but I would be willing to bet if you are thinking of selling your home in Metrowest Massachusetts you would like to sell it for the most money, in a reasonable amount of time, with the least amount of headaches to you! You see just like David Copperfield I can read your mind too.

It's great to work with a Realtor like myself because when it comes time to negotiate with the buyer, I already know what they are willing to pay. Well I guess I am being a little silly here but not really.

The buyer is going to be looking to pay the FMV for your home (Fair Market Value). Fair market value is what other similar homes have sold for. Not what you need or want to sell your home for.

In today's challenging Real Estate market, the price that is set on your home is about 75% of the marketing. What do I mean by that? Simply, if you come on the market at the wrong price, the best Realtor in the country with the most sophisticated advertising you have ever seen will not be able to help you.

I am not going to sugar coat it. Pick the wrong price and you will be doomed to languish on the market. All the marketing and advertising will be wasted along with a lot of time. In Real Estate time = your money.

What is the one piece of information buyers always ask for when looking at a home? If you guessed the days on the market you are 100% correct. You see when the days on the market goes up so does the gap between the list and sale price.

Yet as Realtors we see this same mistake repeated over and over again. Come on admit it...if you see a home that has been on for 14 days and another for 214 days which one do you feel like you have more bargaining power on? It's just human nature.

Over and over again statistics show that homes priced properly out of the gate sell for more than those who believe a higher list price leads to a higher sale price.

As the graph on the right shows, the further you get from market value, the percentage of buyers dwindles.

So what about the other 25% of the equation? Picking the right Realtor is very important. Just like in every other business, you should be looking for the best professional to represent your interests. Most would agree that selling a home is a fairly large decision in life.

As an agent that has been in the business for 23 years, it never ceases to amaze me how little thought goes into picking a Realtor. Why is it that if you are having surgery or you are involved in a lawsuit or you need a tooth pulled there is conscious effort to make sure you are using the creme of the crop? Is there any wonder why there is so much disappointment in the Real Estate industry?

The barriers to becoming a Realtor are way too low. There are far too many unqualified Real Estate agents running around. This is why as a consumer it is important to go through the interview process. Alright I am digressing here:)

So what should you be looking for in a Realtor? I would put Internet Savvy at the top of the list along with someone that has a previous track record of success!

In the article top ten mistakes to avoid when selling your Massachusetts home you will note that overpricing your home and picking the wrong Realtor are up near the top of the list. Read further for eight additional obsticles and tips to avoid them.

Some other articles offering home selling advice include:

Selling your home in a buyers market and Social marketing blogging short sales and the seller I never met.

No magic or mysteries just sound advice.

_____________________________________________________________________________________________________

About the Author: The above information on Selling your home does not have to be a mystery wasremax executive realty hopkinton mass provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. 

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise! 

For Metrowest Massachusetts Real Estate and homes see Metrowest Mass Realtor. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile

 

 

 

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Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.

 
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104 Comments on Selling Your Home Does Not Have To Be A Mystery!

JAN
08
443,197 Points 28 Featured Posts Localism Sponsor Outside Blog

Bill, I run across clients who are dealing with Real Estate Agents that don't know our areas--or how to market or price the homes.  I ask them to be careful because I know they need an expert local realtor...

Btw, I played along and my card WAS missing...how does he do that??

7:48am • #1
417,700 Points 47 Featured Posts Outside Blog

Carole the problem with our industry is that it is WAY too EASY to get in. Take a test and bam you are a Realtor. A Real Estate transaction is complex with a lot of decisions. There are far too many things that can go wrong if they are not handled properly. Selecting a good agent is very important in a challenging market!

You like the magic?

7:52am • #2
8 Featured Posts Outside Blog Hit Router

Excellent post.

Visually engaging and chock full of good information.

My favorite part, "...been on for 14 days and another for 214 days which one do you feel like you have more bargaining power on? It's just human nature." 

It's just common sense!

7:52am • #3

Great info, this is different market but its still market and home that are price and presented well are still selling. Carol you can check on clients like that in 6 months or so.

7:53am • #4
496,775 Points 52 Featured Posts Localism Sponsor Outside Blog

Many people will pick the one that will list at the price THEY want for their home (even though they are the highest bidders on their own homes) and that will take the lowest commission.  It doesn't matter if you are paying 4% or 20 % for commission.  4% or 20% of zero is still zero!

7:55am • #5
4 Featured Posts Hit Router

Bill, I use that same triangle chart when I present a cma.  It makes sense.

7:57am • #6
4 Featured Posts Hit Router

Okay Bill,

I went back and checked and rechecked to magic.  Different card everytime. Cool.

8:02am • #7
417,700 Points 47 Featured Posts Outside Blog

Joanna - Thanks. All buyers do it and why not. The days on the market are a reflection of whether or not the home has been priced properly.

Sonja - Absolutely...look around anywhere throughout the country and you will see plenty of home sales. It is the sellers who are realistic that are selling. An educated home seller is the best client to have.

Renee - It is a common problem in our industry to sellers to pick an agent who gives them a pie in the sky number. I guess it is human nature to want to believe that your home is more special than the neighbors home.

Marlene - It sure does whether it is Real Estate or any other product for that matter.

8:08am • #8
400,430 Points 59 Featured Posts Localism Sponsor Outside Blog

Hi Bill!  Again--this is what I use in my pre-listing presentation and it is SO very true--a good, intuitive agent can TELL where the buyer is willing to go and therefore, know how hard to push in the negotiation process!  And, congrats on that little gold star too!

Debe in Charlotte

8:08am • #9
417,700 Points 47 Featured Posts Outside Blog

Debe - A home priced properly out of the gate will draw more interest and ultimately an offer. The days on the market will not be that high and the seller will be in the drivers seat. We all know what happens when the days on market grows...a LOSS OF LEVERAGE!

8:12am • #10
174,068 Points 12 Featured Posts Outside Blog

That triangle graph is super. Visuals help us all to grasp the reality of what we as consumers want, and what that will ultimately leave us with.

8:16am • #11
209,894 Points 12 Featured Posts Localism Sponsor Outside Blog

Bill, my card dissapeared!! haha. Great article and yet again another reason people should choose you in the Metrowest massachusetts real estate market.

8:19am • #12
417,700 Points 47 Featured Posts Outside Blog

Steve I am a visual person myself. The graph is easy to understand and clearly shows you will receive far more interest in your property if it is priced at market value.

Ray - You see how good I am...it happens every time too:)

8:32am • #13
454,142 Points 50 Featured Posts Outside Blog

Bill - I like the way you presented the lesson of not overpricing and reading minds. It's pretty smart. No super-duper awesome marketing can sell an overpriced home. Not in a bull market and not in a bear either. No buyer wants to pay too much for a house and with the prices that are staying flat or on the decline, it will be very hard for them to justify the extra.

I think our role as a Realtor(R) is to bridge the gap between Buyer's and Seller's expectations. It's a crucial role on what skills to have. Bill, you definitely have that skill. I have no doubt, my friend.

8:39am • #14
417,700 Points 47 Featured Posts Outside Blog

Loreena your statement about bridging the gap between a buyer a seller is certainly on the mark. If the gap is too far there will be no offer and that is the bottom line.

8:47am • #15
315,468 Points 64 Featured Posts Localism Sponsor Outside Blog

Bill~ 

Loved your approach on this one. I am going to reBLOG it...as you say, " In today's challenging Real Estate market, the price that is set on your home is about 75% of the marketing. What do I mean by that? Simply, if you come on the market at the wrong price, the best Realtor in the country with the most sophisticated advertising you have ever seen will not be able to help you".

That's good advice if you live where I do in beautiful Asheville, NC...or Anywhere , USA!

9:03am • #16
417,700 Points 47 Featured Posts Outside Blog

Ashville - Thanks for the compliments. If you get the price wrong the rest of your efforts will be wasted. The best Realtor is not going to be able to sell an overpriced listing.

9:19am • #17
5 Featured Posts

Bill -

Although you and I are leaders in  different areas of "Metrowest", I agree that we do our seller clients no favors by allowing them to overprice their home.  Besides the triangle (I thought this was a ToolKit CMA prop), my agents also provide two other vital pieces of information in each listing presentation:

a) market absorption (see full report here).  If sellers grasp a basic understanding of what the market absorption rate is for their particular town, house style, price bracket, etc., they will be better informed in how to price the home to sell.

b) to further drive in the point, we also prepare a graph with three lines (sorry, folks, I excel in home ownership services, not internet graphics).  One line shows recent sales.  One line shows expireds/withdrawns.  The other shows active listings.  From a visual point of view, when we plot the anticipated list price into the graph, it is very clear whether the home is going to be priced to sell.

We do a lot of other things to help our sellers (every Realtor® has his own bag of tricks), but the one thing we can't do is fix a listing that has been mis-priced at the start. To further drive this point with our seller clients, we do a two-step listing presentation.  After all, how can you evaluate the listing price for a home until you have seen and documented the features?

When I speak to home owners with expired listings, I always tell them that there are only two reasons a home doesn't sell - - pricing and/or marketing.  Our company prides itself on its Enhanced Open House program.  We have statistics that prove that open houses sell homes faster, but we also have an aggressive Price Trend Analysis that we furnish our clients and only represent either the seller or the buyer - never both in the same transaction.  I also have ways to "discourage" my agents from taking listings that they can't sell.  But, I can't give away that secret!!!

Good luck to everyone in 2009!!!

9:36am • #18
148,000 Points 5 Featured Posts Localism Sponsor Outside Blog

Bill ~ I completely agree with you! The buyers and sellers in Metrowesst Massachusetts would be lucky to have you as a their agent!

9:38am • #19
255,650 Points 7 Featured Posts Localism Sponsor Outside Blog

I got this card trick by email and figured it out after some thought.  Did you get this by email?

9:52am • #20
275,814 Points 4 Featured Posts Localism Sponsor Outside Blog

We had a house slide down the mountain yesterday after a few rainy days.. so we need magic and a miracle or 2 to fire up sales!!

10:01am • #21
211,914 Points 2 Featured Posts Outside Blog

Bill G -

 

that is AWESOME !!  - I love magic. Saw David Copperfiled last may in Las Vegas, I HIGHLY recommned everyone experience it, best thing I have ever seen

 

 

10:03am • #22
417,700 Points 47 Featured Posts Outside Blog

Martin I agree with everything you mention except for the part about open houses? Open houses are one of the biggest wastes of time for our seller clients. Nationally less than 1% of all homes sell from an open house. I know it is no different in our area. Open houses are attended by the neighbors, the unqualified, and people that have nothing better to do than look at a home on Sunday for decorating ideas.

Now if you want to tell me they benefit the agent by possible picking up a buyer for something else or meeting a neighbor that may be thinking of selling in the future then I would agree with you. An open house to get that property sold...not high on the list. If a buyer wants to see the home they will schedule a showing regardless if there is an open house.

Terrie - Thanks for the compliment:)

Jeff - I did get the card trick via an email. You didn't think I was that creative did you:)?

Susie - Miracles are never a bad thing. We all need them from time to time.

James - Glad you liked my magic trick. For my next feat I will sell an overpriced listing - LOL

10:25am • #23
2 Featured Posts

Like one of the fellow Realtors said homes are still selling. The homes that are price properly go, and they go quick. They go quick because there are so few PROPERLY price properties out there. Good post.

10:32am • #24
417,700 Points 47 Featured Posts Outside Blog

Dave there are plenty of homes selling. The common denominator in all of them was a price based on comparable sales data. It's the seller that wants to price their home above market value because they used heavy duty nails on their deck that will languish.

11:30am • #25
5 Featured Posts

Bill, I respectfully disagree with your assessment of the value of open houses.  I think you are short-selling (no pun intended) your clients by not offering this service.  See my blog response here.

12:15pm • #26
417,700 Points 47 Featured Posts Outside Blog

Martin I will agree to disagree with you. If the statistics where as high as you mention the national average of 1% would be a lot higher. How is Weicherts data figured? Of the 3/10 is it another agents client or your own? Everyone knows you can play with statistics.

I have been selling Real Estate for over 23 years and have sold 2 that I can directly attribute to the open house. This is out of thousands of homes I have sold. The ratio is terrible. It could be different in the luxury market but I doubt it. I am sure you get even more unqualified traffic going through wanting to look at all the fancy bells and whistles.

I am sure "uptime" is popular in  the Wiechert culture as well but that doesn't mean it is the best system for the seller either.

12:35pm • #27
334,886 Points 16 Featured Posts Outside Blog

Bill - Ok this is getting scary... I am writing a post along these lines (draft mode).... LOL. I refer to this often but there is a home on the market here (still, and will be forever) - that is over 100K overpriced. Unbelievable. And they probably wonder why nobody goes to see it... Honestly, I don't think the home would ever appraise for anywhere near that. Anyway...

I wanted to comment on the open houses as well. We really usually don't do many (if any), but I just read on another post that somebody is having great success getting buyers with the open houses (yes, it doesn't mean they help selling that particular home). We may test it out. Also, we have actually sold I think 3 homes from the open houses we held in the last 3 yrs (not so great ratio either).

Bill - you always ROCK! Too bad I don't have a ton of referrals to send your way :) ~Rita

2:48pm • #28
139,123 Points 13 Featured Posts Outside Blog

Bill - Absolutely dead on. The buyers always set the price. It's so important to educate your sellers. I won't take a listing if they won't set a realistic asking price.

3:47pm • #29
417,700 Points 47 Featured Posts Outside Blog

Rita  - you just touched on another subject I should have mentioned which is the appraisal. The are no more free rides with appraisals. If a seller did happen to get really lucky and found a buyer willing to OVERPAY, it is highly unlikely it will get past the lender in today's environment.

Tom - I also do not take overpriced listings. It benefits nobody and can quickly ruin your reputation as a good agent.

5:08pm • #30
2 Featured Posts Hit Router

But, I like mysteries!  lol  Nice article Bill  :o)

6:09pm • #31
237,458 Points 2 Featured Posts Hit Router

I agree with everything you said.  However, there is one critical piece that is left out in our current "buyer's market" that exists today: and that's "condition".  I can sell a home that is renovated, redesigned and/or stated for a premium or even an excellent lp/sp ratio than I can a home that is not in great shape, but is priced very well for it's condition. 

In other words, condition will outweigh price 9 out of 10 times for most buyers, as most buyers just want to move in and get on with life.  I am not saying a home in great shape will always sell for a premium, sometimes it will sell for under FMV, but in a local submarket that may be experiencing a lot of pain, it beats getting to the closing table versus languishing on the market.

my 2c worth...

6:09pm • #32
4 Featured Posts

Great post, Bill.  I agree with you.  Taking an overpriced is usually a complete waste of time...unless you are looking for exposure through signage.  If you need that, it can be helpful to list even though it won't sell.  It sure beats advertising in the local paper!

6:14pm • #33
417,700 Points 47 Featured Posts Outside Blog

Colleen - Thanks much appreciated.

Chris - I agree that homes that are not in tip top shape in todays market do get punished. There are plenty of folks that don't have the time or money to invest in fixing up their homes. In the other articles I have linked to in the post you will see that I have mentioned the importance of having your home is good condition and also sometimes staging if necessary.

You can always change the price based on the condition. It is a lot more work to change a kitchen or a bath for example. There are many that would just assume avoiding that headache.

6:17pm • #34
417,700 Points 47 Featured Posts Outside Blog

Kent I would disagree with you on having a sign on an overpriced listing as being a good thing. That is the last thing I would want. What you are advertising is the fact that you are never going to get a sale - who would want that? My reputation is on the line when I take a listing. If I can't put a sold rider in the sign then you won't see my sign at all!

6:20pm • #35
164,448 Points 14 Featured Posts Localism Sponsor Outside Blog

Bill Great post and I actually received the same email with the card trick. What is no mystery is the importance of pricing in the market. I don't take over priced listings and am now hearing from some folks i spoke with in the fall who want to employ me when the current listing runs out. It;s a shame some people have to learn the hard way because now the market is lower. Congrats on the feature!

6:36pm • #36
638,265 Points 108 Featured Posts Localism Sponsor Outside Blog

Bill - It took me a minute to figure out the "magic".  Nicely done on this post.  I hope you have a terrific 2009!

6:36pm • #37
320,522 Points Outside Blog

Hi Bill;

Great post, I always advise people to be careful because I know they need an expert Realtor.

6:42pm • #38
1 Featured Post

Dear Bill,

Great post and excellent presentation.

I loved the David Copperfield bit! Attention Grabber!

6:42pm • #39
420,936 Points 10 Featured Posts Outside Blog

I hope some sellers will take your advice and price their home right

6:54pm • #40
107,516 Points

Bill-Excellent post, the graph is really cut and dry. An agent once told me  "website's don't list or sell houses. Agents do". Today you need a good realtor and a good website, they go together.

7:03pm • #42
364,866 Points 14 Featured Posts Localism Sponsor Outside Blog

Bill,

This is some GREAT information and shows why you are the agent of choice in your area.

7:16pm • #43
657,832 Points 145 Featured Posts Localism Sponsor Outside Blog Hit Router

Bill - this is an excellent article. You get stright to the point, don't sugar coat, and make it pretty easy to understand what has to be done. And a clever, entertaining introduction. Thanks for a useful adn enjoyable article - hope sellers everywhere read it - those in your area will know you are the Metrowest Massachusetts real estate expert.

Jeff

7:26pm • #44
200,700 Points 6 Featured Posts Outside Blog

Bill, This post is Magic! We know that you are a "No illusion" " No tricks" kind of Realtor who tells it like it is! DOM is a crtitcal number, more than ever now that buyers will use to play their hand. It important for Buyers Agents to search the entire history of the property for total DOM since it may have gone through more than one listing period!

7:34pm • #45
316,349 Points 40 Featured Posts Outside Blog

Bill--Thanks for recycling this illusion. The first time I saw it was just after I joined AR...Great storyline around it feels like a trick to some to hit that "right" number when pricing. A good agent is your best bet!

7:37pm • #46
346,048 Points 9 Featured Posts Localism Sponsor Outside Blog

Bill  This is an excellent post.  I must say that each time I have a client who prices their home for today's market, its condition and location -- it sells quickly.  Everyone who tries to test the market and does not price their home correctly gets to watch it drop in value and it is both emotionally and economically draining.  It not only is too easy for someone to become a real estate agent, but I also fault the companies for not making sure their agents are properly trained after these agents are hired.

7:54pm • #47

Bill-I really enjoyed your post! Pricing really is everything and it's so important to get it right the 1st time.

8:05pm • #50

Bill:

Great post! In this market don't you think sellers should take more time in presentation (ie painting)! I own a painting company which services Boston - Metro West - and the South Shore.

We find that more and more people are putting off painting due to the economy's downturn. But that seems to be a crucial mistake - many take the view "well they are probably going to repaint anyway" - But stained, dirty, and peeling walls are a huge turn-off to 99% of their potential buyers!

If you know of any of your clients that require painting services - you could certainly send them my way!

Fred Jannino/FJ PAINTING

 

 

 

8:10pm • #51
269,103 Points 3 Featured Posts

I agree totally but I still have peple that will list with the agent that gives the higher price and then when they expire I get about 50 % of those back. I lose the others though to other agents because I would guess they forget who I am.

8:12pm • #52
224,740 Points 2 Featured Posts Localism Sponsor Outside Blog

Awesome post--loved the David Copperfield approach. 

8:50pm • #53
1 Featured Post Outside Blog

This is a great post.  Amazing how many people have responded, well not really, it's an amazing post.  I've yet to see so many re-blogs.  WELL done.

9:00pm • #54
228,888 Points 15 Featured Posts Outside Blog

Well done, Bill!  It all comes back to the basics, with proper pricing being home selling 101.  Your clients are lucky to have a mind reader you as their agent.

9:01pm • #55
288,496 Points 16 Featured Posts Outside Blog

Hey Bill: Great analogy - but HOW DID YOU DO THAT? I want to go back and guess another card to see if it happens again. Lisa, LOL....you're right on as always Bill. ;-)

Pepper

9:02pm • #56
291,346 Points 100 Featured Posts Localism Sponsor Outside Blog

I absolutely love this post!  The David Copperfield illusion at the beginning was just brilliant!  You've stated what should be the obvious...but I guess it bears repeating.  Thanks for a good read.

9:15pm • #57
417,700 Points 47 Featured Posts Outside Blog

Thanks everyone for all your great comments on my article. I guess I should not have gone out for a few hours:)

9:18pm • #58
1 Featured Post Outside Blog

Cool Magic Trick. Yes, the pricing is so important. I have a similar chart and it makes a lot of sense to buyers. When people ask me what I can sell their house for I always tell them that I don't determine the price- the market does.

Another good strategy is to ask them where they would like to be positioned in the market. Thanks for the great post!

9:24pm • #59
373,237 Points 3 Featured Posts Outside Blog

Bill... this is a great post.. pricing is a KEY factor in marketing a home.

10:05pm • #61
410,487 Points 81 Featured Posts Localism Sponsor Outside Blog Hit Router

Awesome post that really hits home - at least for me... hopefully for some home sellers out there.  LOL.

10:07pm • #62
211,184 Points 2 Featured Posts Outside Blog

Hi Bill~ How did you get that "magic" to work?  I loved your statements about the overpricing.  I tried to email this post to myself for future reference, but I couldn't get it to email! 

10:19pm • #63
157,179 Points 9 Featured Posts Localism Sponsor Outside Blog

Bill-Oh so true!  Overpricing is a killer in our markets.  I have lost a few listings to agents that quoted prices that were obviously SO overpriced, it was ridiculous.  Looking forward to listing them at market value when they expire, lol.

10:30pm • #64

I work in the land of overpriced property NYC... Sellers need to learn to get real with the prices!!

10:54pm • #66
105,760 Points 3 Featured Posts

Bill, I like the part of your post where you discuss how Days on Market affect the sale price.  I wish every seller could read this!  Many sellers do not want to accept reality and continue to overprice their homes in the current market...it is such a waste of time for the seller and everyone involved.

11:09pm • #67
2 Featured Posts Localism Sponsor Outside Blog

I love Magic tricks!  This is a top notch presentation for home pricing and done so creatively!  I certainly see why this got featured.  Excellent!

I need to save this for reference on my next listing appointment.

Debbie

11:50pm • #68
JAN
09
151,778 Points 4 Featured Posts Localism Sponsor Outside Blog Hit Router

Bill - Congratulations on a well-deserved feature post.  I especially like your price v. buyers graph.  Although, I would go so far as to argue that in my market 15% overpriced corresponds to 0 buyers. 

12:21am • #69
3 Featured Posts Localism Sponsor Outside Blog

Hello Bill, I loved the David Copperfield bit and yourpost was full of great info.  Terrific read overall. Take care and happy blogging!

1:16am • #70
365,054 Points 63 Featured Posts Localism Sponsor Outside Blog

Hi Bill Congrats on a great post. Happy New year BTW. Some excellent information for the consumer to consider. Here in san Diego, most Buyers do NT want to pay FMV. They are looking for prices that cushion their decision in the event that prices continue to fall. The comps have been affected greatly by the amazing number of foreclosures here, representing approx 50% of the activity of late.  I am hopeful that as our new year market will be greatly improved by the lower interest rates and the intervention to curtail at least some of the foreclosures.

1:24am • #71
330,170 Points 3 Featured Posts Localism Sponsor Outside Blog

Sure my card was gone; he changed them out for new cards.  I agree with you that pricing the property properly is a huge part of marketing it properly.

1:36am • #72
595,513 Points 244 Featured Posts Localism Sponsor Outside Blog

Very good article Bill. Love the visual!!! My opinion though is that pricing is way more than 75% of why a property sells. But the point the same. If it ain't priced right it ain't selling. 

5:53am • #73
1 Featured Post Localism Sponsor

Bill - that was so cool, where did you find that one?

Excellent points on the pricing as well.

Randall

6:07am • #74
1 Featured Post

cute card trick and good advice. Over priced listings are a problem and agents need to be very good at helping sellers understand the truth of the sad condition of the market.

6:13am • #75
417,700 Points 47 Featured Posts Outside Blog

Thanks for all your comments. There is no magic in Real Estate. One of the best skills any Realtor can have is the ability to price a home properly based upon comparable market data. We all know that there are plenty of agents that don't have the skill to get a listing without telling the home owner what they want to hear in order to land the business. This does nothing for the Realtors reputation or the clients ability to sell.

7:28am • #76
147,494 Points 9 Featured Posts Outside Blog

Bill - You make us all proud to be in the business! :)

9:13am • #78

I love the card trick. I have seen it before. Great advice for sellers, wish we could get them to follow that advice. It is so frustrating that sellers won't take our professional advice, especially since we realtors know that the correct price will get their house sold! Thanks for shaing.

9:37am • #79
4 Featured Posts

Bill, Point taken on the signage issue...I agree.  Thanks! 

12:39pm • #80
5 Featured Posts

Bill - you are always amazing and I LOVE your articles .. keep up the awesome work in 2009!!!!!!!!!

All the best to you!

pippa

1:09pm • #81
3 Featured Posts Localism Sponsor Outside Blog

Great little trick at the top!!!  Too much fun... thanks for the post and congrats on the feature!

2:01pm • #82
115,104 Points 2 Featured Posts Outside Blog

it will always be about price. buyers want value and many outright want a deal. nothing less.

2:48pm • #83
137,414 Points 10 Featured Posts Localism Sponsor

Bill, these are wonderful points, thank you for sharing.  Selling a home is not a mystery when you hire a top notch real estate agent like yourself!

Join my NEW group for professionals who work from their home office at http://activerain.com/groups/virtualoffice

Regina P. Brown

3:00pm • #84

Hi Bill~

As I get ready to present myself at my very first listing appointment, your timing is remarkable! What you say and why so many agree makes so much sense.  Being a newbie and though still learning, I do see myself as an educator/consultant with the intent of teaching my clients rather than selling them.

I really like the triangle because it's simply put and not overwhelming. Think I may use this type of tool for a stubborn client who is convinced his home is worth waaaay more than it is, especially when he's lived in it for 35 years.

Thanks for sharing such an important subject!

4:13pm • #85
187,887 Points 19 Featured Posts Localism Sponsor Outside Blog Hit Router

Okay....

I tried the cards a few times --- and the result is the same. Amazing.

Then I finally read your blog. Really good stuff. Thanks for sharing. I saw where some folks have already re-blogged. They like it, they like it, they really like it!

4:21pm • #86
417,700 Points 47 Featured Posts Outside Blog

Everyone thanks again for all your great comments on my article about selling your home and proper pricing.

4:37pm • #87
188,182 Points 6 Featured Posts Localism Sponsor

Bill, this is a great topic. I love the graphic. We use it also. I also read in another blog that if your house is 12% overpriced you won't get any showings, and if it is 6% overpriced you will get showings but no offers. Congrats on the feature!

4:43pm • #88
188,182 Points 6 Featured Posts Localism Sponsor

PS I agree with you about Open Houses. Not sure where your competitor is coming from. Sure, if you have a house in a community where they rarely come on the market and people want to move in, an Open House could sell it, but when agents in our office have them, they often get "0" traffic. That's not what I call good use of my time.

4:46pm • #89

Bill - this is by the far the most clever post I have read on AR. Gotta tell ya though I couldn't concentrate much past the card trick but I am not the consumer. It gets your attention and again I must say it is a clever, clever way to advertise. Now tell me what do with a client who wants to price his property high for other reasons than they need the money or really want to sell?

6:08pm • #90
224,306 Points 27 Featured Posts Localism Sponsor Outside Blog Hit Router

Bill - I can see now that you definitely have a "few tricks up your sleeve".  Great post as usual !  Love the illustrations... and you are right, with the wrong pricing and the wrong realtor, the seller is pretty much doomed.  If I was a seller in Metrowest Mass I would definitely be calling you !  ~ Chris Somers

8:28pm • #91
147,534 Points 3 Featured Posts Localism Sponsor Outside Blog Hit Router

What a creative blast! Loved it! And you are doing such a fantastic job of educating your market about the essential importance of pricing a home right. Well done Bill!

9:24pm • #92
JAN
10
417,700 Points 47 Featured Posts Outside Blog

Carin - Good luck to you on your 1st listing appointment. I hope you knock em dead!

Lisa - Wow that is some compliment! I really appreciate it.

Chris - After 23 years in the business I should have a few tricks up my sleeve:) Most of the time it is just hard work and paying attention to details.

Mara - As I mentioned in my article pricing a home properly is at least 75% of the marketing effort. If you get the price wrong everything else you do will be a wasted effort.

10:14am • #93
JAN
11
442,177 Points 13 Featured Posts Localism Sponsor Outside Blog

Bill, Another excellent post, informative and engaging.  Yes pricing is important now more than ever.

1:03am • #94
417,700 Points 47 Featured Posts Outside Blog

Jennifer thanks for you comments on pricing your home properly.

9:33am • #95

What a great creative post....and I agree - the sellers who overprice end up hurting themselves in the long run...

10:50am • #96

Great marketing piece as you are pushing your years of experience but...... 

Ive lost listings to more experienced agents do to pricing.  I give a realistic price, the "experienced" agent comes in with a high price, they win the listing.  Thats fine with me, there is no way I am spending money on a property that aint going sell.  The experienced agents gauge their success on listings obtained, I am only a 5 year agent, I gauge my success on sales, two very different numbers. 

Im not sure that the barriers of becoming an agent are to low, as the fault will fall upon the broker as well.  It comes down to an agent who wins a 150K listing that realisticaly will sell for 120K.  Those decissions are made by the seller, they like the 150K listing price as oppesed to the 120 K price.  I am more than happy to walk away from such a listing.  No amount of experience is going to over come that. 

Just my opinion (and my area). 

11:47am • #97
JAN
12
214,581 Points 12 Featured Posts Outside Blog

There are many agents who just want the home to sell "magically" instead of really doing what it takes; like setting the right price in the beginning.

7:51am • #98
327,040 Points 4 Featured Posts Outside Blog

Bill - ahhh, if only it were as easy as David Copperfield, all good points, it still amazes me though how many people think that their home/land is immune to the market movement and insist their property value is going up.

8:05am • #99
JAN
13
152,470 Points Localism Sponsor Outside Blog

Bill - How in the heck did that card trick work.  It made a unique intro into very good consumer infor.  You are absolutely right.  when buyers see that a home has been on the market for a long time they are sure that the seller is ready to take a firesale price.

7:51am • #100
417,700 Points 47 Featured Posts Outside Blog

Chad - The barriers of entry are too low for some of the exact reasons you mention. If agents don't have proper training, experience, education ect they are more apt to give the seller an inacurate evaluation of their home. I think you would agree that an agent with lesser skills are the ones that generally do not give the best advice to their seller clients.

James, Mike, Pam - Thanks for your comments on my home selling advice. I am glad you found my card trick entertaining as well.

10:23am • #101
JAN
15
2 Featured Posts Hit Router

Hi Bill, Card trick- very slick!  It made your post even more visually appealling. It's funny, I have used the 'pricing triangle' on all of my listing appts. I just used it last night! Well done.

10:08pm • #102
JAN
22
111,135 Points Localism Sponsor Hit Router

Bill:

 

I love it!!!! I use the same pyramid...Kelly

6:23pm • #103
417,700 Points 47 Featured Posts Outside Blog

Marian & Kelly - The graph does represent the reality of how things work in the Real Estate market.

6:36pm • #105

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Bill Gassett Metrowest Massachusetts Real Estate

Hopkinton, MA

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RE/MAX Executive Realty

Address: 77 Main Street, Hopkinton, MA, 01748

Office Phone: (508) 435-5356

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Metrowest MA Real Estate - Realtor specializing in home sales in Hopkinton, Milford, Holliston, Ashland, Southboro, Westboro, Upton, Mendon, Hopedale, Grafton, Medway, Northbridge, Franklin, Douglas, Uxbridge and Framingham MA. Includes Real Estate home sellling & buying tips , Homes for sale in and around Metrowest, Metrowest MA Market reports.

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