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Pricing Property~~Right!

By Nancy Timberlake

Real Estate Agent with RE/MAX Shoreline

September 30, 2011 01:53 AM

We all know how difficult it can be to be the bearer of bad news. You can see the disappointment on prospective sellers' faces when you tell them current market value for their home. You explain that you want to give them the best advice on selling their home quickly and not ending up "chasing the market". You tell them about "stale" properties and the consequences of over-pricing etc.

Here's the thing they don't get. Why would we want to price their property for less when our commision is based on the sale price? Unless, we are serious about selling it for them....

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Andrew Mooers | 207.532.6573

MOOERS REALTY - Houlton, ME

Northern Maine Real Estate-Aroostook County Broker

You need to lead the market, be the higher priced property in a lower search bracket... not the other way around. Building in a 30% wiggle room factor is just as crazy. Some sellers even think as you approach the kitchen listing table as the third real estate professional that the reason the property has not sold before is the price is too low. That the low price of the property is scaring people away. Whoa.

Sep 30, 2011 01:55 AM

Nancy Timberlake

RE/MAX Shoreline - Portland, ME

REALTOR - Southern Maine

I agree. Thanks for the comments.

Sep 30, 2011 02:06 AM

Sheila Anderson

Referral Group Incorporated - East Brunswick, NJ

The Real Estate Whisperer Who Listens 732-715-1133

Good morning Nancy. I sooooo agree. Yesterday I had a CMA for an expired listing. It was 100K over market value and had a great deal of deferred maintenance. We sat in almost darkness without a light on to see by. I was the second of four to be seen. They had an appraisal for more. Oh well, resale appraisals don't always rise to the level of one you pay for. Lock the door and call me crazy.

Sep 30, 2011 03:07 AM