Who Has The Best Price?

House prices and gas prices seem to be running in different directions these days.

That is great logic .....if we can only get people to listen!

Gena, love this post. In today's market one of the most (if not THE most) important things is to price correctly. I think some sellers are beginning to catch on!

Gena - I like the $2.87 gas sign!  Those were the days!  And we griped then that they were too high, little did we know.

Don't even get me started about both Real Estate and Gas prices! 

When it comes to one of my listings in particular, I feel like the poor gas station attendant down the street that must get his ears filled with complaints all day about prices when there's nothing he can do... 

ah oh.. I feel another post coming on.

Love ya Gena..

Fred

Bill, perhaps they will all catch up with each other.

Ernie, they don't seem to have a problem deciding where to buy their gas.

Linda, I think the vast majority are but there are some stragglers out there.

Mary, oh for the olden days...that was just last year, wasn't it?

Fred, how about sending them this article...maybe a visual might help. I feel for ya! There's nothing worse than having a listing that helps to sell all the others in the neighborhood.

Gena, this is a great visual analogy.  In our market, more and more sellers are catching on.....but there are still more sellers than buyers right now. ;-)

Gena, this is a great visual analogy.  In our market, more and more sellers are catching on.....but there are still more sellers than buyers right now. ;-)

Teri, double jeopardy! Glad to hear that your sellers have gotten the message. As the best darn Realtor in Mesa and Tempe, I know that you do a great job letting your sellers know what the market will bear.

Now, for those sellers who are still on the fence...get those prices down and maybe some of the buyers will take notice.

Hi Gena I wrote this great comment and after several attemps and error  messages , nothing is sticking. A great analogy here.

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Hi Gena..I love your visual comparison, just think if we posted our list prices in lights in front, on top and behind for all to see, well we do,on MLS and Web sites, Blogs, Newspapers,For Sale Sign Toppers, etc and home Buyers are Comparitive Shoppers for homes just like gasoline. Pricing is everything,I adapted along with my home Sellers this Spring, and we had fast sales, a few with multiple offers, just by being 5% below the others that were not selling.

Cheers thanks for sharing.

William, thank you. I know I don't even get notified anymore when someone has commented and many times that poxy thing appears. I guess it is due to the many new active rain members all on the server at the same time.

Thanks for your comment, I'm sure it was great.

Fred, sounds like you did it right and got great results. Congratulations! Pricing is everything.

Overpricing a property s a huge mistake.  I fear too many agents listen to their clients and price houses too high. Smart clients listen to their agents and follow their instructions on pricing.

Robert, I think you're right. Sellers many times take too long and find themselves chasing the market which is their downfall.

Gena - my first comment, which was well written and very thoughtful :) disappeared to the nasty proxy error - but I did want to let you know that I thought this was fabulous advice for sellers! And I LOVE your new photo!

Gena, that is a great point to make with buyers by using a word picture that we can all identify with. Then they will get it, hopefully as we remove their home from the equation. I hope to have some ahh haa moments.

Gena - What a great analogy! The best advice you could give any seller as well. The hardest part is always getting them to listen :)

Michelle, don't you just hate it when you spend all that time commenting and it disappears? I do hope the guys in Active Rain get that fixed along with the spamming emails or lack thereof.

I do thank you for your positive note toward pricing a house for sale appropriately and as for my unprofessional photo but current, I do thank you.

Missy, it's too bad that there are a few sellers who in the end have those ahh haa moments while other sellers are busily receiving offers. Perhaps, as you say a visual will help...we are all learners of one kind or another. Thank you for popping on over.

Bill, ah yes you are right. Listening is a skill that we all must learn and sellers are no exception. I do hope that the visual will help.

Your right on track, I have clients that are still in the dark ages because they think that there dirt is or house is priced right....they just dont get it sometimes that there house will be on the market years from now...

jack

Have any of you Realtors considered not listing if the seller did not want to go with a sell price?  If the price is too high, why waste everyone's time?

This is so true.  I was speaking to a  FSBO and he told me that he will come way down on his price if I have a buyer.  He told me he just priced it high so he could have room to bargain.  O.k. this is prime example of why a realtor is needed.  He probably just lost several willing, able, and ready buyers by pricing it wrong from the beginning.  This is where we really have to educate people. 

Great posts and responses. The number one reason for a house not selling seems to be price. One graph I use that brings out the point is a picture of a fisherman (stickman since I can't draw) and he has his pole in the water with bait. There are many school of fish below his bait. I just explain that once in a while you may get a brave fish that jumps up to take the bait, but you have more luck lowering your bait to where the fish are. You are almost assured of catching the "big" one!

It seems to work more often than not!