Selling a home is as easy as PI!

By
Real Estate Agent with Samsel & Associates 0790808

For whatever reason, most of us are aware of “Pi”.

Mostly we just think of it as that number that goes on and on forever, with no end or solution. And we just know it as 3.14.

When and why do we learn about it in life? What good does it ever do us?

There’s certainly a lot more to it…

For instance, it’s a “constant” ratio in circles. And, it’s an “irrational” number. They teach us that, too. Maybe that stuff sticks with us. Maybe not.

For most of us, just knowing the 3.14 part is good enough. There’s no need to think about it much beyond that. Pi probably isn’t going to affect you or me one way or another in life...

But...there is a rather “constant” and “irrational” number in real estate that does affect many people. And most people never learn about it in life...at least until they list their home for sale.

That number is the listing price of a home…

It’s a “constant” in the sense that almost every homeowner wants the listing price of their home to be a much bigger number than it should be.

It is also a “constant” thing that real estate agents have to help clients understand, and even come to terms with.

But many homeowners disregard what real estate agents explain, and list their home for an “irrational” number, which is too high.

Which then creates an unsolvable problem (much like Pi is)...

Listing a home for too high of a price, typically makes the process of selling a home go on, and on, and on. Forever. With no end…(also much like Pi is).

But, unlike Pi, proper listing prices for homes are not unsolvable. There’s a rational number to list every individual home for on the market.

No, it isn’t necessarily easy to figure out. But it doesn’t take a mathematician. It takes a real estate agent who knows how to analyze where the house should be priced and positioned within the current market. And, it takes an agent who knows how to explain it well, so that their client doesn’t decide to list for too high of a price.

Not all agents can or do these things well. Which is why “irrational” pricing is a “constant” problem so many owners struggle with.

When selling your home, it’s important to find an agent who prices homes perfectly. Not too high… but also, not too low. It’s a fine balance that needs to be struck.

So, when it comes time to list your home for sale, it’s important that you or your agent finds, and understands, the most rational number to list your home for on the market.

 

 

Originally published at https://www.waynezuhl.com/selling-a-home-is-as-easy-as-pi/ 

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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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Rainmaker
2,936,322
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Loved your analogy, Wayne and Jean! Very clever and certainly brings home the point.

Mar 14, 2019 01:37 PM #1
Rainmaker
1,132,514
Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

I agree with Nina Hollander I loved your analogy and it definitely brings home the point. 

Mar 14, 2019 02:27 PM #2
Rainer
486,098
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Wayne & Jean Marie,

Very cool post! Was thinking about pie all day, but no time to make one. Love how you put it together with rational pricing.

Mar 14, 2019 08:57 PM #3
Rainmaker
3,212,921
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Jean Marie and Wayne - a clever post and a very useful recipe for prospective home sellers to follow as they prepare their property for sale.

Mar 15, 2019 01:40 AM #4
Rainmaker
154,326
Elaine VonCannon
Coldwell Banker Traditions - Williamsburg, VA

I love this article! So cute and informative

Mar 15, 2019 08:27 AM #5
Rainmaker
1,054,691
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Such a fun post to read!  Pi is a distant memory for me but you just brought it back to life.

Mar 15, 2019 10:27 AM #6
Rainer
235,018
Jason Potrzeba
Webster Bank - Providence, RI
Mortgage Banking Officer

I showed up for the pie , but stuck around for that really creative use of Pi and it's relationship w/ real estate. Great post!

 

 

Mar 15, 2019 04:26 PM #7
Rainmaker
474,991
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

Love it! Nicely done Wayne and Jean Marie Zuhl! Your analogy really hits home.

Thanks for sharing & I hope you had a great Pi day!
Bruce

Mar 15, 2019 08:14 PM #8
Rainmaker
160,923
James (Jim) Lawson, DBA
DomainRealty.com LLC - Bonita Springs, FL
Broker Associate, RSPS, BPOR, HI & PE

Well said Wayne and Jean. The importance of proper pricing cannot be overstated. Just finished a negotiation concerning multiple offers where pricing was the central theme. Fortunately, I was able to get an acceptable offer for my seller.

Mar 15, 2019 11:30 PM #9
Rainmaker
1,387,013
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Appropriate analogy! Proper pricing is definitely so important; remaining rational certainly helps.

Mar 16, 2019 04:17 AM #10
Rainer
495,818
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

Great tips!

When selling your home, it’s important to find an agent who prices homes perfectly. Not too high… but also, not too low. It’s a fine balance that needs to be struck. So, when it comes time to list your home for sale, it’s important that you or your agent finds, and understands, the most rational number to list your home for on the market.

Mar 16, 2019 04:27 AM #11
Ambassador
3,896,348
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Wayne and Jean Marie:

What a clever way to make some valuable points about pricing. I certanly don't think much about Pi, but I do think about pricing pretty intensely, and often, for both buyers and sellers!!

Jeff

Mar 16, 2019 12:51 PM #12
Rainmaker
363,855
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

What a fun analogy.    Even well priced homes take some work to get sold.    As you say, those problems are solvable! - by an experienced agent, that is...

Mar 16, 2019 02:48 PM #13
Rainmaker
16,364
Krista Jenkins, REALTOR®
Egenbacher Real Estate - Lubbock, TX
Residential sales and retail & office leasing

Mmmmmm pie. There is a brokerage in my area that runs an advertisement that reads "it is not the price, it is the marketing", and it irks me. No amount of marketing is going to make an overpriced listing sell (unless perhaps it is deceptive). Some sellers are very realistic, but some want that "emotional premium" when listing their home. I am embarrassed to admit that I have caved to the pressure, and guess what! The house did not sell. 

Mar 18, 2019 05:49 PM #14
Rainmaker
641,525
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I really appreciate the way you made a connection between the constant and irrational numbers in math and the constant and irrational number of a home’s listing. Very clever!

Now, I am going to go and eat a piece of apple pie.

Mar 18, 2019 08:04 PM #15
Rainmaker
782,079
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

Some sellers can get "irrational" In a  hurry, so it is best to steer them straight with logic and reason. 

Mar 20, 2019 01:10 PM #16
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