pricing: What you should be telling your sellers to get a price reduction - 08/24/08 08:54 AM
As I posted in "Time to Motivate your Sellers" in my local blog, the peak season for real estate is winding down.  Sellers who are tempted to "wait until next year" need to be reminded about the effect of interest rate increases and REO inventory on prices. 
Concern about inflation makes it likely that interest rates will be higher next spring.  The rising number of foreclosures and NODs makes it likely that there will be more bank owned properties on the market next spring.  Sellers who want top dollar need to price their listing agressively to generate offers now rather than waiting … (14 comments)

pricing: Industry: The REALTOR and the hairdresser - 04/01/08 07:43 PM
A REALTOR walked into a salon and asked a hairdresser "How's business?"  "Terrible", replied the hairdresser, "I'm getting half as many bookings as last year."  "That is terrible", said the REALTOR, "Maybe you should think about lowering your prices."
A hairdresser walked into a brokerage and asked a REALTOR "How's business?"  "Pretty good", replied the REALTOR, "despite what you read in the papers."  "Really?", countered the hairdresser, "I thought I read that you were only selling half as many homes as last year?"  "Technically that's true", said the REALTOR, "but home prices have remained pretty consistent.  WE HAVE NO IDEA WHY MORE PEOPLE AREN'T BUYING HOMES."
Why … (8 comments)