Ideas from the CRS convention in Hawaii

By
Real Estate Agent with Cain & Company
There were many good ideas from this year CRS Certified Residential Specialist convention held in Hawaii this year. I was asked to speak at this years convention. One of the best statements that I heard was because of the excess amount of housing inventory that we are experiencing on the market we need to tell our sellers that we are in a beauty contest for cash. Being in a beauty contest for cash means that when we list a house that it must look its best and be priced the best compared to its competition. We are no longer able to let our sellers go on the market with a house that needs new carpet, paint, and being out dated hoping someone will make an offer. Those days are over because of the over supply houses in most price ranges and areas. We have to know our market and know what the absorption rate is. Meaning if there are 24 homes active on the market and only 2 have sold in the last 30 days then we have 12 months worth of inventory available to the buyers. That is why it is so important to price the homes right and having them look the best. Tom Cain tom@soltec.net 217-352 5700.

Comments (2)

Miriam Bernstei
Rochester, NY
Hey Tom, love that expression about a beauty contest.  Isn't it an Absorption Rate?
Mar 09, 2008 10:29 AM
Connie Betz
Berkshire Hathaway HomeServices Ambassador Real Estate - Omaha, NE
Top Omaha Realtor - Omaha Homes for Sale

That's funny as I heard a similiar expression this week, which was - it's like being a beauty contestant at an auction!

Thanks for sharing!

Mar 09, 2008 11:03 AM