Pricing Your Listings RIGHT with a Persuasive CMA (a free panel discussion)

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Education & Training with Sell with Soul

For Sale signs are cute, but they don't pay the bills. Gone are the days where having a listing was pretty much a guarantee of an eventual paycheck; in fact, in today's market, a listing may very well be more of a liability than an asset... if it's not priced right.sold

The first challenge in pricing right is to figure out what the heck the right price is. But even if you're convinced you know what the house will sell for, that's only half the battle. The other half is convincingly communicating your findings to a seller; especially if that seller won't be delighted with your analysis!

Creating and presenting a persuasive CMA is an art that, frankly, takes time and practice to master. But we'd like to help you get there faster, or at least share some tips from our years of experience that might help you fine-tune your presentation.

We've put together a small powerhouse of heavy-hitter Active Rainers who will share their secrets for creating and presenting effective CMA's.  

phoneJoin us on Saturday, February 7th at 8:30 am (Pacific) / 11:30 am (Eastern) for a teleconference panel discussion with me, Broker Bryant Tutas, Borino & Katerina Gasset - four very different personalities, four very different approaches to the Art of the CMA. Each of will have 15-20 minutes to spill our beans, and then take questions from the audience. We expect the conference will last 90 minutes or so.

The cost? It's FREEEEEEEEEEEEEE! Actually, we'll be giving away some cool prizes, so you might actually come away from the show a little bit richer! And certainly wiser...

How does it work? You have to register, and once you do, you'll get the details on how to tune-in to the conference.  You can listen online or over the phone line.

Hope to see you there!!!

 

REGISTER FOR "PRICING IT RIGHT WITH A PERSUASIVE CMA!"

p.s. - it appears that my registration program site is up and down, so if you have trouble registering, please try again later!!!

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. David Matney 01/15/2009 11:56 PM
  2. Patty Bender 01/17/2009 01:47 AM
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Rainmaker
41,796
Cathy Sarmento
Granite Real Estate "Cool Team" - Auburn, CA

What a great offering!  It's what activerain was meant to be.  Congratulations on being a very special and generous person.

Cathy Sarmento Cool, CA  www.CoolRealEstate.com

Jan 17, 2009 08:21 AM #45
Ambassador
772,101
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Jennifer - What a great idea !  Sounds like a great pow-wow of some of the top bloggers and agents on Active Rain !  We will definitely register and look foward to being there, listening and learning.

Jan 17, 2009 09:03 AM #46
Rainmaker
485,057
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul

Sandy - if you registered, you should have gotten the details of the call with your confirmation... let me know if you didn't!

 

Jan 17, 2009 09:24 AM #47
Rainer
10,246
Kathleen Lordbock
Broker/Short Sale & Staging Specialist - Crosby, MN
Keller Williams Realty Professionals

Keller Williams is doing a charity pancake breakfast that AM but otherwise I would be signing up.

Jan 17, 2009 02:37 PM #48
Anonymous
Anonymous

Jennifer,  Thanks for your generous offer to share your time and knowledge.  I'm looking forward to it!

Jan 17, 2009 11:30 PM #49
Rainer
4,664
Terry Hassett
RE/MAX ALLIANCE - Fort Collins, CO

This is a timely topic for discussion.  There are a lot of overpriced listings going nowhere. 

Good CMA's involve three critical skills. 1)  Collecting and objectively evaluating enough relevant information to come to an understanding of the correct price. 2)  Presenting it in a way that is understandable to the seller, especially when you know their initial opinion may differ.  3) Understanding the valid means to maximizing value through repairs and staging, or conversely, the correct deductions in value when not doing these things, which is often more than their cost.  Certain elements of functional or economic obsolescense must be correctly adjusted for, relative to the competition (such as poor floor plan or location).

This is a changing market, so I try not to let my past perceptions of value unduly influence the data. In this market, I have found myself examining more current competing properties.  I also try to employ some of the latest appraisal guidelines in selecting sold comps.  In presenting this information to the seller, I try to let them choose the correct price, if possible.  We will sometimes go over the information more than once until they get it. 

I illustrate the role of the appraiser in a fair and reasonable manner, and the guidelines they are often confined by, as well as any rreasonable parameters for challenging these, if necessary.  When repairs and staging are needed, I try to present two values (with and without repairs) to give the seller the coice.

I try to be empathetic and I don't let it become personal. The reality is that some sellers will never get it.  All people are different, and we don't come with an "understanding switch" that we turn on and off.  It is our job to do the best job of reasearch and presentation we can.  We try to learn from the experience. Then we move on. 

This should be a great exchange of methods and ideas.  

Terry Hassett - Fort Collins, CO

     

Jan 18, 2009 03:22 AM #50
Rainer
20,628
Eve Hansen
Thomas J. McCarthy Real Estate, Inc. - Southold, NY
Long Island Realtor

Thanks to you all for being so generous.  I'm looking forward to learning something new from each of you!

Jan 18, 2009 06:14 AM #51
Anonymous
Anonymous

Thank you Jennifer.   I am looking forward to listening to the conference.   There is always an opportunity to learn a new tip!   It's great to see Realtor's such as yourself and your colleagues who want to advance other Realtor's professionally.   Thank you.

Jan 18, 2009 06:39 AM #52
Rainer
5,714
Lucia Dee Gagnon
Keller Williams Suburban Realty - Verona, NJ

Thank you Jennifer.   I am looking forward to listening to the conference.   There is always an opportunity to learn a new tip!   It's great to see Realtor's such as yourself and your colleagues who want to advance other Realtor's professionally.   Thank you.  Lucia Gagnon

Jan 18, 2009 06:42 AM #53
Rainmaker
817,935
Lanre-"THE REAL ESTATE FARMER" Folayan
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Jennifer Allan, Author of Sell with Soul-I am definitely going to attend this one. I don't care how much you know,there is always more than you can know. Thanks for sharing this with us Jennifer. Great post.

Jan 18, 2009 10:44 AM #54
Anonymous
John Jacobus

Thanks for this opportunity.  I am looking forward to new ideas!

Jan 19, 2009 01:31 AM #55
Anonymous
Paula Dollard

Thanks so much!  I am looking forward to hearing how others approach this.

Jan 19, 2009 03:16 AM #56
Rainer
1,749
Cathy Arzola
Arzola's Asset Management - Indianapolis, IN

Jennifer,

You are correct that it takes some pursuasion in the presentation of a CMA, but in general you as an agent are pursuading the client to list with you.  This inclues personality, experience, and trust for a seller to list with a realtor.  If the trust is not there, such as the seller thinks his home is worth more, then he is not going to trust that the lowered listing price is accurate.  Pursuading a seller to trust and list with you can become very difficult in the current economic conditions.  I am currently telling all my past sellers, that want to list now, to wait.  The data and information that I used to list and sell the property origially is no longer viable. 

Thanks for providing a webinar, but will it be available after that date for viewing.  I will not be available that day.

Cathy Cooper-Arzola, Indiana

 

 

 

Jan 19, 2009 03:52 AM #57
Rainmaker
485,057
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul

Cathy - great point, and I will be discussing this very thing. I do not believe in persuading any to list with me unless they think I'm the best (wo)man for the job, and in order to think that - they need to trust me.

I'll keep you posted on whether or not we'll have a replay... sorry we'll miss you!

Jan 19, 2009 03:56 AM #58
Rainer
55,751
Kelsey Barklow
Hurd Realty - Johnson City, TN
423/948-9154

Thanks for the post, Jennifer. I have already registered via Borino and I can't wait. One of my big problems is pricing to sell and convincing my sellers of such.

Jan 19, 2009 12:25 PM #59
Rainmaker
355,277
Patty Mortara | Hunterdon County (NJ)
Hunterdon County Homes - Flemington, NJ

Marking the calendar now! What I would like to know is who coined the phrase... "I'm giving my house away". because who ever it was... they didn't understand the true meaning of the word GIVE, or we wouldn't hear this over and over again!

Jan 20, 2009 06:40 AM #60
Rainer
18,856
Kenneth Fisher
Cape Fear Real Estate Solutions, LLC - Wilmington, NC
BeachTownBrokers.com, Remax Essential - Wilmington, NC

This is a problem for many agents...getting the seller to price the home right. I'm always looking for another way to present. 

Jan 20, 2009 08:24 AM #61
Rainer
208,738
Bob Cumiskey
A1 Connection Realty, Inc. - Sun City Center, FL
US Army Retired, Your Sun City Center, Florida ~ Realtor

Jennifer, I will be sure to mark my calendar for this. I've turned down 3 listings and dropped one over pricing.  I'm hoping to get some good tips.

Jan 21, 2009 01:54 AM #62
Rainer
1,460
Ericka Jennings
Green Key Real Estate - Oakland, CA

This is so relevant! Thanks for putting it together. Unfortunately I am unable to attend -- I look forward to hearing what the follow-up will be.

Jan 21, 2009 04:45 PM #63
Rainer
78,196
Bill Saunders, Realtor®
Meyers Realty - Hot Springs, AR
www.BillSellsHotSprings.com

I am sooo looking forward to getting ideas from this. I guess we should all have a moment of silence for Jennifer...there are a LOT of folks tuning in...even experts get butterflies. This is going to be sooo good.

Feb 07, 2009 02:13 AM #64
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Jennifer Allan-Hagedorn

Author of Sell with Soul
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