The Most Important Thing I Do..........

By
Real Estate Agent with Missy Caulk TEAM

   The Ann Arbor, MI market is is fluctuation. It is changing almost daily.

Pricing a home right is THE MOST important thing I do.

Mr. and Mrs. Seller, buyers don't care what you "need" to sell.

Mr. and Mrs.Seller, It is not wise to "test the market for a month."

Mr. and Mrs. Seller, Yes, they can just "make and offer" but they won't.

Mr. and Mrs. Seller, The buyer is looking at all the homes in the price range you have priced the home in. Your home just does not compare in that price range.

Mr. and Mrs. Seller, Your home is helping to sell the other homes listed in your price range, because it looks like they are getting a good value on the other ones.

Mr. and Mrs. Seller, All the marketing of your home will still not sell an over-priced home.

Mr.and Mrs. Seller, get it right the first time.

A Comparative Market Analysis is only what a house is worth in a certain location, in a certain condition and at a given point in time, within a 30-90 day time period. In the Ann Arbor, Michigan market homes need to be re-evaluated every 30 days. Your realtor should stay on top of what is listed, what has sold and what has been reduced. A market value is always changing so you must change with it and price accordingly.

My website offers lots of great tips for selling your home.

Search other homes and see on-line how your house stacks up to the competition. Look at location, size and ammenities. Be brutely honest with yourself. Put on your buyers hat. Would you buy your house or another one?

Listen to your realtor who sells hundreds of homes, who see's the competiton, and sells homes every day and lives and breathes the market.

 

 

 

Posted by

 

Missy Caulk, Ann Arbor Realtor

Missy Caulk & Team can be reached at 734-926-9797 or email: Missy@MissyCaulk.com

Our Team of 6 agents are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

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Stay strong, stay faithful, stay honest, stay loving, stay true to who you are, most importantly stay true to who God is as you'll be who you are, and you'll be happy, you'll be you, you'll be free. -Jamie Caulk

 

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Rainmaker
46,013
Sarah Nopp
South Sound, WA

Thanks Missy!

This is really well stated. I prefer simple, to the point conversations. I think I will print this out and stick it to my wall so I can memorize them.

May 20, 2007 12:03 PM #14
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Sarah, thank you !
May 20, 2007 12:34 PM #15
Rainer
69,596
Jim Ludes
RE/MAX Top Properties - Coal City, IL
Grundy/Will County, IL REALTOR
Missy- you're a woman after my own heart. Lots of agents in my area have a bigger budget to market more/better...many are better at talking their way into business...I've succeeded because I price homes better than anyone in my area. To me it's a pretty simple science of compare and contrast (you know- the skill we learned in early elementary school)...the fun part is sticking to your price with your seller...They love you in a week or two when the house is sold for full price. Of course, you'll lose some listings by sticking to your guns--that makes it even more fun 6-12 months later when you go back and ask, "How did that whole listing high because you want wiggle room or someone will throw out an offer thing work for ya?"
May 20, 2007 12:45 PM #16
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Jim, true, true, true.
May 20, 2007 07:22 PM #17
Rainer
48,073
Ethan Dozeman
Realty Executives Platinum Group - Grand Rapids, MI
Real Estate in Grand Rapids
I took two listings recently where the seller wanted to price it an extra $5000 high for those reasons listed in your post.  I overcame the objection and listed them to sell.  The one listing sold in 3 weeks!!
May 20, 2007 08:58 PM #18
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Ethan, excellent !
May 20, 2007 09:04 PM #19
Rainmaker
181,415
Cathy Tishhouse
RE/MAX Showcase Homes - Royal Oak, MI
Royal Oak Real Estate
I have a listing right now that is at least $30,000 over priced.  She was referred by a friend and I asked her on the phone (before the appointment) how much she thought it should sell for.  She indicated that she really didn't know.  I worked hard on my CMA and recommended about $35,000 less that she listed it for.  She has had about three showings in five months.  I haven't wasted any money on advertising--just my work in creating a website for it and she is fine with that.  She told me she won't be lowering it until she moves (building a home) and so I do nothing until that time.  If it wasn't for the connection in the referral or if she had asked me to spend a lot in advertising etc., I probably would not have taken the listing.  It will be interesting to see how it all turns out.
May 21, 2007 08:22 AM #20
Anonymous
Anonymous

Missy,

Amen! Amen! and Amen!  You said it all so very well. 

May 21, 2007 04:31 PM #21
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate

Cathy, As long as your not spending money and they don't get mad at you.

Cynthia, couldn't have said it better.

 

May 21, 2007 04:38 PM #22
Rainmaker
36,329
T. Christopher Hill
RE/MAX TRICOUNTY - Robbinsville, NJ
  Missy, great post and very well said. pricing is everything. No marketing in the world works if its overpriced. I also would add to your list that overpriced is overpriced whether its $10,000 or $ 100,000 over.it still will show as over and off the market to the savvy buyers we have out there in todays market
May 21, 2007 04:57 PM #23
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Absolutely, Thomas. Oh, I wish the sellers would read this.
May 21, 2007 05:05 PM #24
Rainer
57,140
Tina Howell
RE/MAX DFW Associates VI - Little Elm, TX
Little Elm & Frisco Area Real Estate
Missy -- great post.  You hit the nail on the head.  Unfortunately, many real estate agents (lots in my area) are taking listings at any price just to get them.  It is an awful epidemic in certain neighborhoods around here.  Wish more agents advised their sellers like you do.
May 21, 2007 05:09 PM #25
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate

I hate it put it like this, but to each his own. Some realtors in Ann Arbor that work for conventional companies will take anything. But, they don't pay for their advertising like we do at RE/MAX. So it doesn't really matter to them.

Well, they really do pay, by leaving 50 to 30% on the table, but they will still take a over-priced listing every day of the week.

I don't care.............I tell the truth, if I don't get it, oh, well. So be it ! At least I'm not spending money and time and frustration advertising a over-priced listing.

May 21, 2007 05:24 PM #26
Rainer
55,001
Tammy Stone
Prudential Preferred Realtors - Grand Rapids, MI
"Eco-Green" Agent in West Michigan
A lot of times - I'll take out my sellers and have them be the buyer by looking at their competition.  It usually helps me price the home accordingly or drop the price.  I also tell the sellers that I find that buyers because of their research, already know about where the home should be priced and if the seller's home is priced too high, they may have lost their buyer.
May 29, 2007 11:00 AM #27
Rainmaker
86,091
Paula Henry
Home to Indy Team @ Sycamore Group Realtors - Avon, IN
Realtor - Indianapolis Real Estate - 317-605-4174
Missy - I love that you turned down three listings! You're right, we do not have time for over-priced listings. Now, do you have a list of responses for a price reduction?
Jun 24, 2007 12:08 AM #28
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Paula, since I posted this in May, I'm up to 5 now.
Jun 24, 2007 07:17 AM #29
Rainer
136,319
Terry Lynch
LAR Notary and Closing Services - Saint Clair Shores, MI

Missy

This post is exactly why you are getting 2 offers on the posted condo I just looked at...great job

Jun 25, 2007 10:15 PM #30
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Thanks Terry !
Jun 26, 2007 05:32 AM #31
Rainmaker
25,597
Doreen Johan
RE/MAX Sunset Coast - Saint Joseph, MI
Sunset Coast Michigan

ABSOLUTELY right on! Sellers are suffering the "correction" of the current market.  Pay attention, if you want to sell, listen to your REALTOR and be the best home in the price range, price it RIGHT! Todays savy buyers are not gonna bite if you don't price right!

Aug 04, 2008 11:47 PM #32
Anonymous
Anonymous

Be honest with the sellers, you are the pro and if they refuse to take your adviced then move on (next!!) ~over-prices listing like a stale bread~

Apr 05, 2010 08:18 AM #33
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Missy Caulk

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