Real Estate Agents in La-La Land...
As agents, we can't create the market, but if we are smart, if we are good agents, we can understand the market and service our clients well by telling them the truth. The truth is: we have over 22,000 active listings in the Myrtle Beach Market. Our third quarter statistics are dismal at best: only 9% of available condos have sold in the past quarter, only 18% of the homes and 5% of the lots available have sold in our area during the past three months. July, August and September are typically red hot months for sales in this Mecca of vacation homes and investment properties. These disheartening figures may signal a more severe trend yet...
What favors are we doing our sellers by telling them what they want to hear? What good does it do to price these listings at 2005 prices? 2005 is gone! 2007 is here, and if you are not smart, 2008 will find you with the same listings you've carried for the past two years. Tell your sellers the truth! Educate them! Stop trying to stroke their egos. They still won't like you if you don't get their properties sold!
Go ahead! Tell them the truth! Lower the prices or risk losing them even more money. 2008 prices will be lower yet. Why wait for the big plummet? Save your Sellers from bigger losses. Price your listings correctly!
I will talk more about my theory on pricing specific properties in future blogs. For now, just grasp the idea and run with it! Your career is in the balance, but most importantly your Sellers' welfare is at stake. Reduce, or Lose!
Mirela Monte, GRI, BIC, SC & NC
Buyers' Choice Realty