Timeless Advice on Pricing from Donald Trump

By
Real Estate Broker/Owner with Charlemagne International Properties BRE# 01147470

While sorting through some books I plan to donate to charity I came upon Donald Trump's Think Like a Billionaire.  I gave it one final thumb through, and paused at the the chapter titled How to Sell a House.  Written in 2004 it contains some sage advice whether you're a fan of The Donald or not.  Here is the first paragraph:

If you are selling your home and there is no or little activity, or activity but no offers, you should revisit the price.  The real estate market is volatile, and prices change daily.  I always keep in mind the saying "Old listings, like old soldiers, never die--they just fade away" when it comes to pricing.  Also, don't worry about competition; count on it--you will save yourself a lot of time.  Competition may even help you by drawing in prospective buyers within the same market."

In paragraph three Mr. Trump goes on to state:  If you have a broker, make sure he or she understands what the value of the property is to you.  But don't be too bullheaded if your broker thinks the property is worth far less than you do.  The broker should be the expert, and you're paying him or her not only for service but for advice.

This is tTrump National Golf Courseimeless advice from someone who understands the art of selling and acquiring real estate.  I dusted off the cover, and since Trump is now building multimillion dollar homes in Palos Verdes, I may enlist his help the next time I need a price reduction--the book is now in my conference room. 

The photo is of Trump National Golf Course in Rancho Palos Verdes.

36 megamillion dollar estates surrounding the golf course are under construction. 

I have the price sheet if you're interested in living in one of the most beautiful locations in Southern California.

More Seller Tips from Norma!

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

South Bay Los Angeles cities I sell real estate and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.


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Rainmaker
524,166
Ken Tracy
Keller Williams Realty Infinity - Naperville, IL
Helping clients buy and sell since 2005

Hi Norma.  Nice reading.  Great points on pricing.  I have had pretty fair success explaining this to sellers.

Rock on,

Ken

Mar 03, 2008 09:04 AM #1
Rainmaker
234,380
Patricia Beck
RE/MAX Properties, Inc., GRI, CDPE - Colorado Springs, CO
Colorado Springs Realty

So true, if it's priced wrong especially in this market, the home will just sit and sit!  Thanks for sharing.

Mar 03, 2008 09:13 AM #2
Ambassador
1,583,961
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Ken - Thank you for your comment, and by the way Naperville was my home from 1976 to 1982.
Mar 03, 2008 09:14 AM #3
Rainmaker
135,700
Paul Francis
Francis Group Real Estate - Las Vegas, NV
Las Vegas Real Estate Agent - Summerlin Homes
Even the Don has his trusted Advisors. (Barrington by the way.)
Mar 03, 2008 09:15 AM #4
Ambassador
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Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Patricia - You are right. Buyers are very savvy and comparison shop with gusto!
Mar 03, 2008 09:18 AM #5
Ambassador
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Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Paul - Yes, and he has a blog too.
Mar 03, 2008 09:20 AM #6
Rainer
120,142
Joseph Lang
Pillar To Post Professional Home Inspection - Rancho Cucamonga, CA
Home Inspector, Southern California

Great advice and reminder to all in the real estate industry and all sellers (who especially seem to forget).

Mar 03, 2008 09:34 AM #7
Ambassador
1,583,961
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Joseph - Yes, the right price is important in every market.
Mar 03, 2008 09:37 AM #8
Rainer
32,400
Linda Futral
Newnan, GA
Thanks for sharing that Norma I enjoy his little tidbits. 
Mar 03, 2008 10:19 AM #9
Ambassador
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Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Linda - You're welcome and I enjoy following his remarks also.
Mar 03, 2008 10:31 AM #10
Rainmaker
473,414
Colleen Fischesser Northwest Property Shop
RE/MAX Advantage | Managing Broker - Chelan, WA
A Tradition of Trust in the Pacific NW since 1990!
Norma, the Donald knows his stuff. Good advice is never out dated!
Mar 03, 2008 02:13 PM #11
Ambassador
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Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Colleen - Yes, my first thought when I read his 2004 advice on pricing was this will make a great post in 2008!
Mar 03, 2008 02:54 PM #12
Rainer
69,000
Sandra Carlisle (Ayers)
Berkshire Hathaway California Properties - Newport Beach, CA
Real Estate Marketing & Sales
Thanks for sharing that.  It's soo true.
Mar 03, 2008 05:24 PM #13
Ambassador
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Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Sandra - It is true and it's also nice to hear it from a consumer.
Mar 04, 2008 01:11 AM #14
Rainmaker
148,763
Tom Plant
WINEormous.com - Murrieta, CA
Norma - Thanks for sharing this. He's not a bad guy to have in your corner.
Mar 04, 2008 08:41 AM #15
Ambassador
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Norma Toering Broker for Palos Verdes and Beach Cities
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Palos Verdes Luxury Homes in L.A.
Tom - I think his take on pricing real estate is timeless.
Mar 04, 2008 09:15 AM #16
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