Chasing The MARKET!!!!! Sellers NOT pricing their houses RIGHT. - Fredericksburg Virginia

Real Estate Agent with Samson Properties VA Lic # 0225101380

On Friday, I reduced the price on one of my listings by $50,000 - Today, I received two offers on this house.  Could we have made - Yes a couple of months ago had we priced it right.

I tell every one of my clients, when we sit down to do the pricing - DO NOT OVERPRICE THE HOUSE.  If we overprice the house now we will be chasing the market the rest of the time.  As you can see we have been chasing it down with this house. 

Friday - we made a drastic move to try and catch the market - Today we have two contracts. 



Vincent McKamy - Realtor

Coldwell Banker Elite

Serving Fredericksburg, Stafford, Spotsylvania Virginia, and the surrounding areas




Comments (5)

Jeremy Blanton
Myrtle Beach Homes Blog - Myrtle Beach, SC
Myrtle Beach REALTOR®-
I always tell my clients either price your house to sell or price your house to sell your neighbors!
Mar 16, 2008 01:24 PM
Ulises Romo
Realty One Group - Phoenix, AZ

I have this problem with some family members, I tell them what I think we should do but, they do what they think is best. We have been chasing this market down now for a long time.

One of my co-workers has a script I love, "Do you want to own? Or do you want to sell? Because if you overprice your home you will not be selling it for a long time".

The trickiest part is gaining the trust of your clients, enough to where they believe you are right. And that you have their best interests at mind. I mean really, we as agents are commissioned based. We make more money when you home sell for more right? However, in todays market you cannot overprice your home and a good agent will share this information with their clients instead of trying to rake in more dough. Anyway, good post.

Mar 16, 2008 01:31 PM
Nannette Turner
Keller Williams Lynchburg - Lynchburg, VA
Online Marketing Home Ownership Advocate Specialis
I like the term "chasing the market" it is a great way to communicate the market trends.
Mar 17, 2008 10:40 AM
Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
If a client does not price it right, and prep the home we do not take the listing.  There is a difference between wants and needs.
Mar 17, 2008 10:43 AM
Kevin McGrath
Long & Foster Real Estate Companies- Fredericksburg/Spotsylvania - Fredericksburg, VA
Long & Foster Real Estate Companies

If the phone is not ringing in 48 hours you are too high.

Sep 05, 2010 12:41 PM