Sometimes the key to sales is simply having the right product at the right price at the right time!

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

 

Selling the right product at the right time at the right price!Supply and demand. We hear those words every day, and yet we often ignore them when it comes to selling real estate.

That is because many sellers still think of a real estate sale as an emotional rather than a business decision. The assumption is that a buyer will “fall in love” with their house and pay any price that is demanded.

However the majority of today’s home buyers are more interested in taking advantage of the soft market and getting a great deal. The new status symbol is how LITTLE you paid for your home.

Selling any home in today environment is as easy as pricing it correctly from the start. The window of opportunity for success is typically only thirty days and it is essential to get off and running in pace with the market. A house that lingers will lose value every day that it is listed for sale.

Selling an overpriced home is like trying to sell an ice-cold beverage in a snowstorm.

It might happen, but it probably won’t!

 

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Rainer
322,088
Don MacLean
Simolari & MacLean REMAX EXECUTIVE REALTY - Franklin, MA
Realtor - Homes For Sale - Franklin MA

So true

No matter how thirsty someone is ,they will only buy what monies are in there pocket and most want to leave with a quarter.

Business is business.

Enjoy the day

Feb 04, 2011 09:49 AM #15
Rainmaker
254,308
Connie Goodrich
Keller Williams Realty - McKinney, TX
CRS ABR (McKinney Realtor)Texas

Buyers .. I have asked that very question when I have seen them turn away from a lovely home that met all criteria .. they couldn't find a thing wrong except ... it wasn't a "deal".  I would ask them if they wanted a home for the family or an investment.  There answer helps direct either me on what to show or centers them back on what is important.  Great post for thought.

Feb 04, 2011 10:14 AM #16
Rainmaker
1,812,879
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Unless that beverage is a COLD beer at the Super Bowl!   But, otherwiseyou are right.  The offer I wrote 2 days ago was more emotion than business.

Feb 04, 2011 10:41 AM #17
Ambassador
667,120
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

This concept is so hard for most sellers to accept AND they really are shocked when I would rather not take the listing than price it like they insist.

Feb 04, 2011 12:01 PM #18
Rainmaker
589,989
Jim Hale
ACTIONAGENTS.NET - Eugene, OR
On the Move for You! - Eugene - Springfield Oregon Real Estate

I especially like the line "the new status symbol" is how little you paid.

 

Frugality and responsibility are definitely in....now if we can just convince government at all levels as well.

Feb 05, 2011 03:09 AM #19
Anonymous
Anonymous

Yu just perfectly defined Internet marketing my friend.

Feb 05, 2011 10:13 AM #20
Rainmaker
393,828
Tni LeBlanc
Mint Properties, Tni LeBlanc (805) 878-9879 - Santa Maria, CA
JD, MA, REALTOR, CalBRE # 01871795

Good point.  When I'm working with a buyer the key is finding something that is priced right and available.  Sounds easy but in today's market it can get complicated.  Sellers that are sharp enough to price their home correctly will get the proper attention immediately.

Feb 05, 2011 10:16 AM #21
Rainer
18,676
Wade Mattingly
WEICHERT Realtors--Bluegrass Living - Lexington, KY

It's all about getting the client to understand the importance of what you are saying.  Which is sometimes easier said than done.

Feb 05, 2011 12:22 PM #22
Rainer
37,031
Kimberly Brandon
Smart Moves Real Estate - Panama City, FL

Price is King - price it right for location and condition and it will sell........

Feb 05, 2011 12:26 PM #23
Rainer
59,871
Barry McCormack
Ultimate Homes

Never a truer word/phrase spoken. With permission, I would like to re-blog this on my blog too as it's so relevant in my business in Spain too.

Feb 05, 2011 01:02 PM #24
Rainmaker
256,291
Beverly Carlson
Carlson Properties 325-721-2429 - Abilene, TX
Abilene's Staging Realtor

I like what you said about selling an over priced house is like selling an ice-cold beverage in a snowstorm. 

Feb 05, 2011 02:05 PM #25
Rainmaker
1,281,099
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

I can always drink a Coke, but I never want a Pepsi.  But I know what you mean.  People are very practicle these days.

Feb 05, 2011 03:08 PM #26
Rainer
26,391
R Grodin
Worland, WY

Feb 05, 2011 03:12 PM #27
Rainer
18,836
stan albert
Remax Premier Inc. Vaughan Ontario - Vaughan, ON

Richard. great blog. well said. when I was in retail, that was always the case. by tmes we think we've got a great product to sell but sometimes the price or location does not always fit the bill. That's why we always have to have more homes to sell in a specific area or at least know them by prior inspection. Knowledge is awesome and will pay great dividends.

Feb 05, 2011 04:39 PM #28
Ambassador
539,659
Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- Concierge Service - Atlanta, GA
Timesaving Strategies for Atlanta Sellers & Buyers

Richard,

You are almost at your 1,000,000!  I am approaching my first "points" target this week.

Lots of dedication and work at AR!  As you are listed as an AMBASSADOR, I guess I may contact you if I have questions!

My experience is that the Buyers with cash want a REALLY great deal - however they themselves define it!  I gree with your statement above.

Have a happy day -
Lynn

 

 

Feb 05, 2011 05:03 PM #29
Rainer
34,990
Diana Mehnert
Coldwell Banker Harris McHaney & Faucette - Bella Vista, AR

Great point. The price is the key, price it right when you list, (that's if the Seller will listen).

Feb 05, 2011 06:01 PM #30
Rainmaker
128,117
Mike Henderson
Your complete source for buying HUD homes - Littleton, CO
HUD Home Hub - 303-949-5848

This is a great point.  I'm going to use it for my next class for sellers.

Feb 05, 2011 06:25 PM #31
Rainmaker
836,437
Lyn Sims
RE/MAX Suburban - Schaumburg IL Real Estate - Northwest Suburbs of Chicago - Schaumburg, IL
Schaumburg Homes

Great points about correct pricing in this 'plump' market. Too much inventory with too much fat.

Feb 05, 2011 07:51 PM #32
Rainmaker
848,068
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

Study after study proves that people buy from emotion and justify the decision with logic.

But perhaps in today's market, with some buyers, the dominant emotion is to attain the status of having gotten a "real steal" in the purchase of a home.

Feb 05, 2011 07:51 PM #33
Rainer
36,056
Brad Hornshaw
Brad Hornshaw Realtor Lynnwood, Bothell, Everett - Lynnwood, WA
Realtor, Listing Agent, Buyers Agent, Investments
Hi Richard Money is tight these days only natural people are trying to get the most out of theirs...........Brad
Feb 05, 2011 11:24 PM #34
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