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Two new Listings, Price does sell and what other Realtors do does effect All

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Real Estate Agent with Diane Turton, Realtors

Have two new listings . One has 3 contracts. Price does sell!

One other thing I want to share with all of you. After I correctly priced my listings The Sellers road around the neighborhood with the sheet of actives I gave them and checked out all of the houses in their area. Because of over pricing on other listings, my clients questioned the price I had on their house. Their Quote: The house in the area are at least 50,000 more than ours and most need major renovations and ours is Move in Move in!!!  

I had to sit down again with them and go over everything, which makes a hard job harder! Thank God they were informed sellers and now we are negotiating contracts. (Multiple) .

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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Rosemarie, welcome to ActiveRain! This proves a properly priced listing sells. Good Job!

Mar 16, 2009 12:28 AM
SarahGray Lamm
Allen Tate Realtors Chapel Hill, NC 919-819-8199 - Chapel Hill, NC
Realtor - 100K Hours of NC Real Estate Experience

Nope Rosemarie, thank goodness YOU were an informed AGENT! This is a new market for many of our sellers and it is incumbent upon US to make sure they understand what is going on! You didn't try to pander to their misinterpretation of the market dynamics and you gave them the information they needed to make an INFORMED decision. Don't be surprised if you don't hear from some of those neighbors when their current listings expire...you did what you said you would do...you SOLD the house! Now your seller is ready to move on and TAKE ADVANTAGE of the same deals they gave their buyer! Great job!

Mar 16, 2009 12:34 AM
William German
NetWorks Real Estate LLC - Lacey, WA

Rosemaire,

Great job on getting your clients to agree to a price adjustment. I have to do the same thing this week with one of my clients. Hopefully they will be as willing as yours.

Mar 16, 2009 12:37 AM
Bryan Crabtree
Bryan Crabtree, The Real Estate Expert. - Mount Pleasant, SC

Very insightful post.  I, too, am so frustrated with this. I had a seller the other day tell me, they looked at Realtor.com and determined that the price should be X.  I almost fell out of my chair.  My response?  Don't look at Realtor.com to price a home - most of the homes on there in our market are overpriced anyway.

Mar 16, 2009 12:59 AM
Rosemarie Villanova
Diane Turton, Realtors - Ocean Grove, NJ

Hi Brian,

Oh so true!! about the prices on Realtor.com but what I used was statistics from our MLS system and days on the market. After one hour of going over What a declining market meant and the fact that the other listing were not sold, some for 6 months, is what convinced my sellers that they were priced right. It was a tough sell. Do not Over price any listing, walk away, when the house doesn't sell they will call you to list it.

Mar 16, 2009 01:34 AM