Recently in the KW Outfront magazine there was a really nice article that i read that just reminded me that the most important thing in this market is price.
The best thing to do is run your numbers weekly. I try to call my sellers weekly and let them know what the market is doing. Sometimes the news is bad, but at least they know and have an agent that is letting them know exactly what the market is doing. I believe, and have noticed, that by calling my listings weekly or bi-monthly to let them know about the market and the current numbers that they are more open to price reductions or bonuses.
One thing that i really liked about this article is the statement made by David Norbery states, "If you owned some stock that needed to sell and it was worth $24 a share, but you needed to get at least $30, how much could you sell it for? He says that once the sellers think about this from that perspective a light goes off and the understand it might be necessary to lower the price in order to make the sale.
I think that if we as agents are careful and take the time to explain the market and correctly price properties in our area that our listings would sale with less argument.
This was an excellent article, i will try to see if i can find it somewhere and post a link to it.
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