Myrtle Beach Real Estate

What Any Smart Realtor Will Tell You... On Pricing The Listings:

Smart Realtor Series:  Pricing The Listings:

Tim Moncrief, Co-Owner-Bartlett RE Group (Keller Williams Realty )

We are doing a disservice to clients if we are not firm with them on the reality of the situation.  I tell my prospects that this is gut check time and you may want to throw me out the window, but my job is to tell you the reality of the market, not to gain a listing.  My last three listings this month were $80,000, $60,000 and $40,000 under my competitors; yet I won the listings.  Your sellers will appreciate the honesty.  Either hurt them now, or let them be hurt by foreclosure should you not tell them. How can any agent not have the heart to tell people the reality and allow them to go to foreclosure?

Bruce & Sandy Soli (Intero Real Estate Services)

This conversation seems to be easier and easier these days.  We are finding that our sellers are truly getting it and starting to price right if they really want to sell.  If they don't they are wasting everyone's time even considering being on the market.  More professionals need to stand up and cut to the chase!

Sandy Childs

It is not easy to tell a seller that they have lost money on their house, but we are going to have to do it. None of us, who are dedicated to professionalism and to being the best of the best, should ever allow a seller to drastically overprice their home. The results are devastating for the seller and frustrating for the agent. The house will stay on the market longer and most probably end up selling for less or worst not selling and going into foreclosure.

Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance)

The CRS listing class highly emphasizes absorption rate pricing and presenting it in your listing presentations.  I've been using it now for about 6 months since taking that class.  Very few other agents use this so sellers aren't familiar with it, but once you explain it to them in simple terms, it makes a lot of sense and makes you stand out from the crowd.

Christina Asad Edwards @ www.DaytonOhioHouse.com (Real Living Realty Services - #1 in Ohio!)

I do a Highest Price Analysis; it is a combination of a Comparative Market Analysis and a Trends Analysis Report, showing the months of inventory versus sold, etc. It works very well with clients since it encompasses MORE than most would show.

Chris Elizabeth Griffith ~ Bonita Springs Fl Real Estate (Keller Williams Elite Realty, Bonita Springs, FL)

There isn't a listing presentation or an even a contract presentation to sellers that I don't have an absorption rate prepared and ready. 

Most the time the listing agent has no skills to show their seller that there is nine years of inventory in their neighborhood and they'd be wise to consider any offer they get.  You can bet I let them know when I hand them a contract.

What are some of your thoughts on the subject?  Impart the right advice and run the risk of becoming part of this blog!