When everything seems to be going up, consumers wounder about home prices

By
Managing Real Estate Broker with Flexit Realty "Flexible Home Selling Solutions"

I have been reading everything I can find on the housing market NAR, MAR, Inman, the Press, Wall Street they all say the something that we have known.  The market is slowing down!  I have found listings are easier when you market the properties at the right price and offer good advice on how to arrive at the right price.  I see comparables that I use in my presentations as examples of how to over price.  I called a couple of the agents guilty of this pricing practice, since I have had closings and business relationships with them.

They both told me that the sellers had instructed them on what price they should list the home for the market.  I asked if they had given the sellers any evidence that the price would only cause them to sit on the market and be forced to reduce prices later.  They both told me they had tried but the comparables suggested they could maybe get to that price.

This story only goes down hill from here.  The agent spent money promoting a listings that was priced to high, the open houses were not well attended and the sellers dropped the price a couple of times and the listing is now stale.

Using better pricing methods, providing solid advice to sellers in a buyers market will allow them to sell faster for a higher price and reduce the time on the market.  Some times a seller can not see the reality of the market.  I have been talking to a real estate attorney.  He is now a two home owner with one vacant and no buyers in site.

He invested more than what the home will yield in todays market.  After 8 months he is starting to see the time value of money.  This listing is not mine either!  I learned the hard way spending my advertising dollars before I realized sellers really need honest advice on the market and what to expect.  Pricing right requires work, honestly and commitment.

Good Luck,


Gary White
Associate Broker

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Michigan Kent County Grand Rapids
Tags:
grand rapids
pricing right
pricing homes to sell
selling homes faster

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
387,816
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Hi Gary,

Just dropped by to say hello!  I agree with your thoughts about pricing.  It is amazing how often people choose to ignore the realities of the market.

 

Lola Audu, CRS GRI

Audu Real Estate

Jan 09, 2007 03:23 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,073,964

Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375

Real Estate Services You can Trust!
Ask me a question
*
*
*
*
Spam prevention

Additional Information