Do you keep giving sellers updates on comps during the listing period

By
Real Estate Broker/Owner CA#01772851 HI#RB21268

In my experience, sellers tend to keep checking out other listings that might compare to theirs. They also pay close attention to comments made by potential buyers who view their home. A negative comment can make the seller feel depressed, and a good comment brighten his day.

But none of this matters!

What matters is the comments that come back about the price!

If the home is over priced, the comments will reflect that right away especially from other agents.

In fact, if a home is over priced, the comments can get nasty such as picking on the layout, the funky garage, the dirty pool, etc. Potential buyers expect a lot more from an over priced house rather than one that is well priced.

And then there are sellers who over price their listing because of all the updates they have done to the house. Yes, but are they the right updates? If the seller put in new tile work all over the bathrooms and the kitchen a few years ago when that was all the rage, you can expect a backlash.

This was a comment an agent made to me a few days ago, and I had to laugh. The beautiful wood interior that is in my listing is absolutely gorgeous although many years old. The seller took good care of it and it shows.

Then you go and look at the "upgrade", ugly tile that just begs to be ripped out.

SO I UPDATE MY SELLERS ON COMPS HAPPENING DURING THE LISTING PERIOD.

These are items that will perk my seller up and stay the course that we have set re the selling price. Just because some agents and their buyers don't like certain aspects of the listing, it helps when I compare what is out there that is a possible comp. As for example "upgrades" that are actually a detriment.

THE SALES PRICE COMPS?

Before my clients make a change on the price (and that doesn't happen often these days), we go over what has sold and what has come on the market within that 30 days.

Who knows, maybe the price even needs to go UP? It does happen.

Posted by

Hella Rothwell at Carmel Beach during Concours WeekCarmel-by-the-Sea Beach and Pebble Beach Golf Course California

Whether buying or selling oceanfront, oceanview, commercial or any type of real estate in Carmel, Pebble Beach, Pacific Grove, Monterey, Carmel Valley and Big Sur, I can help you. Call me and let's meet in my Carmel-by-the-Sea office in Su Vecino Court on Dolores between 5th & 6th.

Or we can just chat on the phone to discuss your real estate needs.

Are you out of the area? No problem, I often never even meet my clients. The whole transaction is handled long distance.

As an independent real estate broker licensed in California and Hawaii, I can represent you with residential real estate, commercial properties & investment opportunities.

For more information

www.HellaRothwell.com & www.RothwellRealty.com

& www.HellaHawaii.com

Member: National Association of REALTORS, California Association of REALTORS, Hawaii Association of REALTORS, Del Norte Association of REALTORS, Honolulu Board of REALTORS. Also MLS Listings in California.

 ________________________________________________________________

Hella Mitschke Rothwell (R)

Real Estate Broker/Owner/Realtor®
Licensed in California #01772851 & Hawaii #RB-21268

Tel. 831-626-4000 

Fax 1-877-822-9332

ROTHWELL REALTY INC.: Su Vecino Court, Lincoln & Dolores between 5th & 6th, Carmel-by-the-Sea, CA 93921

 

MAILING: P.O. Box 4554, Carmel-by-the-Sea, CA 93921

 
Email: HellaRothwell@gmail.com


Hella Rothwell's Facebook Page       Hella Rothwell's YouTube videos      REALTOR LOGO      Equal Housing Logo

 

Disclaimer: Hella Rothwell does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Groups:
Realtors®
Northern California Real Estate Professionals
CALIFORNIA REAL ESTATE
Bananatude
ActiveRain Contests

Spam prevention
Show All Comments
Rainmaker
771,107
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Yes, we absolutely keep the sellers up to speed on the comps regularly - homes that have sold or are newly on the market that are their competition.  This is very important in my opinion. -Kasey

Jun 08, 2017 10:26 AM #1
Ambassador
1,641,190
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I do frequently so that the seller understands I am comparing his property with current market conditions.

Jun 08, 2017 10:39 AM #2
Ambassador
2,860,747
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Hella yes the sellers receive continuing neighborhood MLS auto searches as I think it's important for them to follow along with the market. Some of our sellers request a MLS search be set up a year or more before they're even ready to sell!

Jun 08, 2017 10:45 AM #3
Rainmaker
3,982,564
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

If the property is on the market for a period of time I do a recheck

Jun 08, 2017 11:17 AM #4
Rainmaker
4,444,594
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Of course we would do that.  It is important to keep them informed of what is happening.  A

Jun 08, 2017 04:49 PM #5
Rainmaker
2,537,494
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Yes, it is an important component to keeping the seller informed about the market that affects them.

Jun 08, 2017 07:07 PM #6
Rainmaker
2,189,769
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Usually I don't have enough time to send comps because the home is already sold within the first week.

I do send feedback, though, so they know what buyers and their agents are saying. Little is worse than a seller twiddling thumbs and wondering what's happening.

Jun 09, 2017 07:56 AM #7
Ambassador
3,982,999
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I monitor the market at least every 30 days and check out new listings sooner when I see them pop up. The seller needs to know this information.

Jun 09, 2017 09:03 PM #8
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
519,997

Hella M. Rothwell, Broker/Realtor®

Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea
How can I help you with Carmel, California real estate?
*
*
*
*
Spam prevention