Relocate to Wisconsin : "I think my house is priced just right, don't you ?" asked the Seller

"I think my house is priced just right, don't you ?" asked the Seller

 Hmmmm..."just right"...If only home pricing were an exact science and the Priced Rightmethodology AND practice a requirement for all Realtors to apply to their practices...how different the world of real estate would be !   No more "buying listings" fooling Sellers into thinking there were abundant proceeds or in some cases...proceeds at all. 

     The practice of agents working expired listings would no longer exist.  Homes would be priced and sold with little time on the market. 

        "Priced right" means that the price takes into consideration the location, condition, features, size.....the temperature of the market...the recent sold properties...it is a recipe for which only the market knows the exact proportions....and they change all the time. The change can be seasonal, it can reflect the supply and demand in a particular area. New development taking place....a raise or decline in a school system...the creatioCrystal balln of more...or less employment in an area can contribute to the popularity of lack thereof of any given location at a specific pont in time.

    How wonderful it would be if along with a real estate license, you were given that crystal ball that could exactly forecast the price of a home.

   We are never the agents who have suggested the highest price...we don't believe in the "Let's start here" philosophy. Let's start where we want to end....and if the market is slow....other similar homes sell for less...changes have to be made.  Using the "the market is back" and having a Seller imagine a fortune in proceeds to our minds is not realistic....or ethical.

   binoculars Watch the market...if a property is not mooooving...the price must !  Yes there are cases where improvements to the condition, the cosmetics, etc. will change the price.  There are things that can be done to make financing easier..to bring the home to the updated standard of "competing" homes in the market.  If that is not affordable or desirable...the price is all that can change.  

    A price change is not a bad thing...sometimes it is the ONLY thing that will bring the new buyers in that price change to the property to write an offer.

        If you or anyone you know is looking for agents who research pricing AND monitor the market on a very regular basis in southeastern Wisconsin, call the Hansons, we would be honored to be of service.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Comment balloon 14 commentsSally K. & David L. Hanson • October 06 2016 03:44AM

Comments

I hope home sellers will read this post and learn from it. Thanks for the post.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 1 year ago

Good morning Sally and David. This is sooooo good. It is priced right when it sells.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 1 year ago

Yes, having that crystal ball would hlelp, but that's not reality. We never "buy" a listing either. Price it right and go from there...

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) over 1 year ago

I tell my sellers that the buyers will decide the price.  Not them, not me.   I give them my recommendation -- explain why they should stick close to that number  -- and then we will see what happens.

Posted by Dianne Goode, Realtor/Broker (Raleigh Cary Realty) over 1 year ago

Good morning Sally K. & David L. Hanson ,

So well written! We don't have a crystal balls but we have the ability to keep up with market swings and price homes according to the market at a certain time!

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) over 1 year ago

Pricing a home critical.  Yet in todays market seems to be much wider variance allowed.  Mark

Posted by Mark Don McInnes, Sandpoint, North Idaho Real Estate - 208-255.6227 over 1 year ago

Good morning, Sally and David - pricing involves a combination of science and art along with having the right representation to negotiate.  Hiring the right agent is important and in southeastern Wisconsin you are the logical choice.  

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) over 1 year ago

Sally and David I completely agree with your assessment of  "if a property is not mooooving...the price must !"

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 1 year ago

If/when the house sells we know it was priced right! Amazingly simple concept that so many have a problem with, Sally and David.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (RE/MAX Executive | Charlotte, NC) over 1 year ago

Priced right . . . for what year?  What market?  If it's not priced right for the CURRENT market, then it's not!  You bring up some very valid points.  

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 1 year ago

I had a seller call me yesterday and ask just that, the problem is he listed with another company and has not had a showing in a month Sally K. & David L. Hanson . 

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) over 1 year ago

Sally, it is always about price and I try to tell sellers that from day 1, some sellers do not hear the message,  and lose time and money...I like that you tell it like it is.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 1 year ago

Hi Sally and David- price is what it always boils down to and there is no magic ball for this.  Nor is it the agent who suggests the highest price.  It takes someone like you...an experienced professional who is always aware of the current market. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) over 1 year ago

Oh, if only pricing were an exact science and all those factors that lead to difference in prices didn't have an impact as they do. But of course that's not the case and it's much more complicated, and influenced heavily by personal opinion and experience. And sometimes we just don't know what a home will sell for until it does.

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) over 1 year ago

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