So You Want Me To Make Your House A Test Monkey?

By
Real Estate Broker/Owner with eXp Realty 1005281
https://activerain.com/droplet/4xYx

So you want me to make your home a test monkey?

Sorry, I don't support Real Estate Cruelty!

So you want to list your home, but you want to list it for 20% more than the market will support.  Two Questions...

1. Do you REALLY want to sell?

2. Why would you TEST the market with 100's of 1000's of $$... YOUR $$?

 

I tell every seller to speak with 2-3 listing agents.

Don't just list with the agent that agree with your listing price.  Use your free resources see what 2/3 agents think the market value of your home is.  If your not prepared to list in market value range, this is NOT the time to sell your home.

 

There is NO point in Testing the market..it fails over and over and over again.

Statistics prove if you list too high that if/when your home does sell it is always lower than what you would have gotten if you skipped the "let's just test it at this price" and went right to current market supported value. 

Think about it....

Why would you use Your home as a test?

 

 

 

The Goldilocks

Too High, Too Low .... Just RIGHT!

 

A inexperienced agent (looking for a quick listing) or even worse a Lazy agent (looking for a quick sale) will let you list your house TOO High or TOO low. 

However, the right agent will position you perfectly in the market to bring you the most Money in the shortest amount of time. 

 

 

Let your "competition" test the market while you leave them in the dust on the way to the closing table!

If Your Thinking About Selling, Contact Me.

I am always happy to share my professional thoughts and help give you insight as to what you should be expecting from today's buyers.  What you should be expecting from your Realtor and their Brokerage and what to expect from yourself and your family.

There are NO strings attached, even if you aren't ready to sell and you just want some answer to questions on your mind..that's what we are here for!  This is my career and it's also my passion...I would love to hear from you.

Tara Stone, Realtor  

908-209-9277

Tara@DavidRealtyGroup.com

David Realty Group

www.DavidRealtyGroup.com

www.NJEstatesAndStables.com

 

 

Posted by

Tara Stone, Realtor, e-Pro

Country Estates and Equestrian Property Specialist

Certified REO and BPO Specialist

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Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Jennifer Fivelsdal 07/15/2013 01:34 AM
  2. Robby Leviton 07/16/2013 12:06 AM
  3. Winston Heverly 09/04/2013 09:47 PM
Topic:
Real Estate Best Practices
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Tags:
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Rainmaker
81,454
Lori Dee Doerfler
Realty ONE Group, Mountain Desert - Lake Havasu City, AZ
Helping NEGOTIATE through the real estate noise!
So true...that is why it is so important to manage the Seller's expectations with facts in the beginning. Our business is built upon our reputation....don't want my sign on a property for an extended period of time. Have a fabulous day...
Jul 15, 2013 11:50 PM #52
Rainmaker
359,222
Debra B Albert, PA - Keyes Realty
Keyes Realty Treasure Coast, 34986 - Port St Lucie, FL
Ron and Debbie 772.708.3292

Awesome Blog, how true!

Jul 16, 2013 12:31 AM #53
Rainmaker
242,474
Christi Farrington
Dagny's Real Estate - Wilton, CT
~ Your representative in Fairfield County, CT

Tara ... loved what you had to say and the way you got your point across.  Very humorous and clever.   Thank you!

Jul 16, 2013 12:43 AM #54
Anonymous
Phill Smith

Loved the "fairy tale" take on listings. List it for the market you are in not the one you want to be in. I will be quoting this one. 

Jul 16, 2013 12:49 AM #55
Rainer
384,237
Raymond Denton
Homesmart / Evergreen Realty - Dana Point, CA
Veteran Friendly RealtorĀ®

Every Agent I know that farms luxury markets will take overpriced listings for the additional signage exposure.  Branding means a lot in those areas.

Jul 16, 2013 01:12 AM #56
Rainer
140,465
Keith Whited
RE/MAX Gateway - Alexandria, VA

Oh Mr. & Mrs. Seller - I certainly do understand that those extra heavy duty nails your home was built with and the phone jacks in each and every room are important to you but the purchasers really don't give a darn - especially the phone jacks, landlines are SO popular these days.

Jul 16, 2013 01:25 AM #57
Rainmaker
371,013
Travis "the SOLD man" Parker; Broker/Owner
Travis Realty - Enterprise, AL
email: Travis@theSOLDman.me / cell: 334-494-7846

I recently listed and sold in less than two weeks a house that I had to walk away from the first time. The owners had put a lot of time and $$ into an excellent update and expansion, but wanted ALL of that back. I left, wrote a nice, long email explaining in more detail and giving examples, they called me back a couple of days later to list at MY price.

Jul 16, 2013 01:57 AM #58
Rainmaker
848,857
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Tara, great post!  Unfortunately it seems the majority of agents are taking over priced listings just to buy business.

Jul 16, 2013 02:15 AM #59
Rainmaker
226,907
Tara Stone
eXp Realty - Alexandria Township, NJ
NJ Estates and Stables

Kudos to you Travis...It's so HARD to walk away..But you did and it was the right move!

Jul 16, 2013 02:15 AM #60
Rainer
511,863
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Excellent post, however, there will always be an order taker who has a license and list the property regardless of the circumstances.

Jul 16, 2013 02:18 AM #61
Rainer
88,298
Kevin Ward
YesMasters.com - Los Angeles, CA
Founder of YESMASTERS.com

Excellent post, Tara!  Very few agents either understand or are willing to educate sellers that the list high, come down later strategy actually costs them money, because the longer it sits on the market the lower the offers it generates for a bunch of reasons.  Thank you for sharing it.

Jul 16, 2013 02:50 AM #62
Rainmaker
166,954
Marlene Dietrich
Marlene Dietrich Real Estate - Newport Beach, CA
Neighborhood Real Estate Specialist

by testing the market before you are motivated to sell you lose all of your best exposure and by the time your seller does decide to bring the price in line, most buyers have moved on

Jul 16, 2013 03:18 AM #63
Rainmaker
1,431,864
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

You have a great way of putting it that I think will get people to listen.  I tell them and they do not listen.

Jul 16, 2013 09:00 AM #64
Rainer
177,904
Ann Wilkins
Golden Gate Sotheby's International Realty - Oakland, CA
Oakland, Berkeley, Piedmont CA

Great way to put it but...in this crazy market, I have seen too many supposedly over priced listings sell quickly. 

Jul 16, 2013 10:04 AM #65
Rainmaker
686,859
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker
It's up to us to convince the seller to price his property correctly. The if he still doesnt, it's up to the agent to decide if having the listing is worth it.
Jul 16, 2013 01:13 PM #66
Rainmaker
1,629,719
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

A little off track - but you reminded me of a man who used to test the market here... he didn't want to sell, so as soon as an offer came in, he'd take his properties off the market. WHY his agent went along with that every couple of years was beyond my understanding. 

Jul 16, 2013 01:29 PM #67
Rainmaker
504,301
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Tar I love both your humor and your analogy.  Now if we could only get all the sellers to read this and go along with it.

Jul 16, 2013 01:37 PM #68
Rainer
344,093
Andrea HoffDomin
Florida Dream Homes Realty - Fort Lauderdale, FL
- in Real Estate always on your side!

Very good point but some sellers have no open ears for the truth and especially with confusing market statistics which do not apply for their market area.

Jul 17, 2013 09:59 PM #69
Rainer
48,748
Tyler Soulliere
Windsor Realtor - Windsor, ON

Reading a couple of these comments is interesting in that I can easily relate to them, in how sellers always try to get back what they put into their home. Its simple economics, the homes is worth what the market says its worth. Just like any other product out there. If it is a hot commodity and in demand, and supply is low, then yes you can charge more and vice versa. This is exactly like real estate. Very tough for people to understand this however.

Jul 19, 2013 03:58 AM #70
Rainmaker
226,907
Tara Stone
eXp Realty - Alexandria Township, NJ
NJ Estates and Stables

Well put Tyler...

Jul 19, 2013 08:39 PM #71
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Rainmaker
226,907

Tara Stone

NJ Estates and Stables
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