Pricing It Right From the Very Beginning

By
Real Estate Agent with Keller Williams Realty Signature Partners

With Sellers finally starting to understand the need to price their home correctly from the very beginning, it is also important for them to understand what they need to be prepared to see as a potential offer AND ultimate sales price.  Having this heart to heart from the very beginning has helped me tremendously when presenting some not so great offers with my sellers.  It's all about getting a buyer to present an offer and getting dialogue going between a potential buyer and your seller.  

Another tactic that is becoming increasingly popular is the seller presenting an offer to a buyer that shows interest in their home.  My sellers usually say, "Can we do that?".  They love the idea!  The key is for the offer to be one that intrigues an interested buyer enough to entertain acceptance or a counter.  Your seller must be willing to "play the game".  If you find out thru feedback that your listing is on a buyers short list, present the buyer an offer!  Try it, you might like it!

 

 

Comments (2)

Renee L. Norton
Birmingham, AL

You are right about pricing and more sellers are getting realistic.  Reverse offers are a good tool o use as well.

Feb 15, 2010 11:43 AM
the Chris & Lisa Grus Team
Premier Realty Exclusive - Saint Louis, MO
GRI, e-PRO

Thanks Mary,  that reverse offer is an interesting concept!  I've never heard of it before--although we all try to 'work it' when we know there's interest.  Actually coming up with an offer is something new.

Pricing is so true though.  Seller's often times are still caught in the old paradigm for pricing and it puts them in a tailspin. 

This past year we found that the buyer's that priced it right in the beginning were able to sell (sometimes with multiple offers) and the people that had to 'test the market' at the higher price point ended up with no offers and lots of days on market.

 

Feb 15, 2010 12:10 PM