Pasadena CA - First Impressions, Second Chances and No Wimpy Sellers

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://actvra.in/HSg

Pasadena CA -- First Impressions, Second Chances and No Wimpy Sellers

 

First Impressions, Second Chances and No Wimpy Sellers

 

I’ve said it before and in all likelihood will say it many, many more times....when it comes to home selling in Pasadena CA and beyond....you only have one opportunity to make a first impression for buyers....but if you need a second chance....you better be prepared. This is no time for wimpy home sellers.


Yes...properties that come on the market -- ready -- really ready -- for sale -- you know they are in a highly sought after location, priced well and in “ready to sell” condition(beyond professional staging this means - the property is truly ready -- ask me about this important component in the selling process).   These properties are highly desirable.  

So, what happens when things do not go well?   The price you have chosen to place on your Pasadena home -- is not getting the reaction you desired -- please note the desired reaction -- is an offer that eventually leads to an acceptance.

If your home has come on the market for sale -- there are three things that can happen:

  • You receive an offer that you can accept....yeah - this is at the top of our list!


  • You have many showings but no offers that you can accept -- your home, depending on the market, may be used as a “comparative” to sell other properties.


  • You have no showings and no offers -- we’ve totally missed the market...ouch!


So if everything else is in place, you may need to consider a price reduction.

Now, make sure your price reduction --- means something -- no  wimpy reductions -- if your home is priced at, let’s say, $500,000 -- that does not mean reducing the price by $5,000.   Do you really think this will make a difference?   Do you think a buyer or a buyer’s agent will not consider making an offer at $500,000 but will become enthusiastic at $495,000?   Come on, really -- would you.

Let’s discuss pricing upfront in order to capture those savvy buyers...but if there needs to be discussion about re-positioning/re-pricing your home --- let’s be honest -- no wimpy price reductions.

Michael Jacobs is a Realtor in the Pasadena and San Gabriel Valley as well as the Northeast Foothill communities within the city of Los Angeles and can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
California Los Angeles County Pasadena
Groups:
Bartender, Make it a Double
REALTOR LIFE
Coldwell Banker Platform for Sharing Information
The Lounge at Active Rain
BananaTude
Tags:
pasadena realestate
no wimpy price reductions
second chances in real estate
first impression
pasadena home sellers
pasadena real estate

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
682,318
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Michael - Great information for sellers to think about.  It's true about price reductions make them meaningful, or don't make them at all!

Sep 17, 2012 11:22 PM #1
Rainmaker
1,116,777
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael well said, otherwise the sellers will be just chasing the market down....

Sep 18, 2012 12:52 AM #2
Rainmaker
1,554,182
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Makes me wonder how many homes aren't sold quicker because the buyers don't want to insult the sellers by making a low ball offer when it's really all the property is worth and it's just priced too high.

Sep 18, 2012 02:42 AM #3
Rainmaker
765,545
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

Michael, Your arguments for pricing correctly are very well made.  And, from what I have heard, if you price correctly in the first place, your property won't become shop-worn and you make out on the net better. 

Sep 18, 2012 04:40 AM #4
Rainmaker
611,660
Sharon Lee
Sharon Lee's Virtual Assistance - Hurt, VA

Michael-Excellent and so very true. If you price it right it will sell. Have a great day.

Sep 18, 2012 06:10 AM #5
Ambassador
935,776
John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty

Contact Realtor® Michael Jacobs for all your Pasadena, San Gabriel Valley and Northeast Foothill communities real estate needs.

Sep 18, 2012 07:29 AM #6
Rainmaker
634,080
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

I love this - I often have had higher end sellers say $5000 reductions are what they will do - great points!

Thanks for sharing.

Sep 18, 2012 10:34 AM #7
Rainmaker
856,004
Jeffrey DiMuria 321.223.6253 www.SpaceCoastHomesNow.com
Fontaine Property Group - Melbourne, FL
Your Space Coast Real Estate Expert!
Michael....I listened to an agent in my office last week tell a seller that a price reduction from $199k to 195k would open up the market to a bunch of new buyers...OMG
Sep 18, 2012 10:42 AM #8
Ambassador
859,497
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

I read Jeffrey's comment, and all I can add is my own OMG.  You have this perfectly understandable by even a layman, Michael.  Price to the market.  And, when and if you need a price reduction, bite the bullet and make it worthwhile instead of taking out little pieces bit by bit.

Sep 18, 2012 03:49 PM #9
Ambassador
1,137,785
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Your Guide to Joyful Colorado Living!

Sellers are a different breed.  Their palace is not always someones dream home.  I had a custom home listed for $548,000.  Nice lot - great views - big home, but no market in that neighborhood for that price.  I told the seller they needed to drop between $50k and $100k.  They didn't like that advice so I pulled the listing.  NEXT...

Sep 18, 2012 07:09 PM #10
Rainmaker
355,549
Debbie Cook
Long & Foster Real Estate, Inc - Silver Spring, MD
Silver Spring and Takoma Park Maryland Real Estate

Michael,

Great advice - I love the price reduction conversation you have with the seller.  Made me laugh.

Sep 19, 2012 12:45 AM #11
Rainmaker
673,621
Patricia Feager, MBA, GRI, Cert Negotiations Expert, Military Relo Prof
Keller Williams Realty - Flower Mound, TX
The Little REALTOR® That Could

Oh Michael,

These are golden words. I tried to say the same thing, in different words to one of my sellers, but it didn't work. If I didn't know better, I would say, you looked into the crystal ball and saw the outcome.

People need to listen to you. You say it clearly and you're right!!!

Sep 19, 2012 01:43 AM #12
Rainmaker
790,704
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

First impressions are crucial in business. Thanks for the tips on professionalism Michael! Have a nice day!

Sep 19, 2012 07:01 AM #13
Rainmaker
1,101,771
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
PasadenaCA Real Estate Representation 818.516.4393

 

Laura - I like to discuss the possibilities with sellers upfront.

Endre - when the market is accelerating -- a seller might be able to capture the buyer who is not looking at the days on market -- it's risky - very risky.

Roger - your wondering makes a good topic of discussion.

Ron - you've heard well.

Sharon - pricing cures most ills in the home selling process but there are other factors involved in obtaining highest price possible.

John - thank you for stopping by and commenting.  Hope all is going well in Albuquerque.

Joy - it can be a head scratcher, that's for sure.

Jeffrey - I have overheard the same types of conversations - another case of truth being far stranger than fiction at times.

Suzanne - I'll double add to that.

Belinda - sometimes it is better to move on - it seems that was the best thing for you to do in this case.

Debbie - glad to oblige.

Patricia - I learned the dialogue from a real estate coach.   I can't take credit for them but they have come in handy over the years.  

 

Sep 19, 2012 07:03 AM #14
Rainmaker
1,101,771
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
PasadenaCA Real Estate Representation 818.516.4393

Hi Will - thanks!  Have a great day too.

Sep 19, 2012 07:04 AM #15
Rainmaker
534,488
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Great advice Michael, I agree when its time for a price reduction you have to make it impactful, drop it once to a place that will move the property rather than small insignificant drops that rarely will do much.

Sep 19, 2012 08:57 AM #16
Rainmaker
1,101,771
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
PasadenaCA Real Estate Representation 818.516.4393

Morgan -- so right -- not always as easy as it sounds but excellent advice for sellers to understand.

Sep 19, 2012 11:02 PM #17
Rainmaker
201,642
Shannon Lefevre
John R. Wood Properties - Naples, FL
Shannon Lefevre, PA Your Naples Smart Girl

Experience shows us exactly what needs to happen through the success or failure of a good listing...it's simply not brain surgery and while you can accomplish everything you need to in real estate through price, condition can always be a wildly important factor as well. :)

Sep 20, 2012 06:08 AM #18
Post a Comment
Spam prevention
Show All Comments
Rainmaker
1,101,771

Michael Jacobs

PasadenaCA Real Estate Representation 818.516.4393
Ask me a question
*
*
*
Spam prevention

Additional Information