The most pivotal point in a real estate deal is when we tell a potential selling client the all-important “suggested list price”.
We know most sellers have a number in mind. Maybe the neighbor sold for $X or the one down the street sold for $Y. The Internet says it’s worth $X - $Y, the competition says $X + $Y…..IMO, this is one of the toughest parts of the business (#1 is getting the phone to ring) – especially in a moving market.
Too high and we better be right. Too low and we risk losing credibility - it’s really a no-win situation. Sure all this can be overcome with a trusting solid relationship, but how many of those are there really?
Outside of close friends and family, this can be the difference between obtaining a new listing and losing an opportunity.
We’ve always offered prospective selling clients a “range” in which we feel, based both on comps and experience, is within the context of the market. The problem is that it’s extremely difficult, and as any good broker knows - the list price matters, a lot.
With competition keener than ever for those few precious listings…it would nice to be as good as this guy…… :)
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