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Clients have the right to raise or lower prices at their will, REALTORS recommend, but don't set the prices. .
Every realtor says that, however many advise a price or a very small range. If you are a homeowner who has no idea or clue about comps, you'll just blindly accept what the realtor says. Basically you are PAYING the realtor to sell your home at the right price. The fault goes both ways. Unrealistic sellers and clueless realtors who have no idea what the market will be doing in 3-6 months out.
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Originally Posted by WhoFanMe
MLS prices were changed for the sale in order to stimulate consumer demand - .
You can put as much lipstick as you want on this pig, but the thing was still a "gimmick". No different that a seller offering a "free" plasma or a trip for purchasing their home. You and your company would be better off trying to convince these sellers to lower their price on their POS taj mahals...
When are people going to finally "get it" that either paying for closing and/or reducing the list price aggressively (NOT JUST FOR 10 DAYS) are the only things that will stimulate buying??
You and your company would be better off trying to convince these sellers to lower their price on their POS taj mahals...
When are people going to finally "get it" that either paying for closing and/or reducing the list price aggressively (NOT JUST FOR 10 DAYS) are the only things that will stimulate buying??
I think that was the objective, wrapped in the gimick. CB, the broker, forced its agents and their clients to have the painful discussion about repositioning.
The event was heavily advertized in my area and the reductions in the MLS were obvious. The timing could not have been worse, given the stock market and global economic news.
That almost all the participating CB listings in my area chose to revert back to their former prices is the mind boggling part. A side benefit is that some non CB listings were reduced to compete with the CB listings and those reductions are holding. Which listings have the better shot of getting sold?
Back in the late 1990's there was a R.E. agency "Home and Gardens" I believe was the name of the company. They would list each house in a sliding scale range. One house would be listed for 200k-215k. I haven't seen them around for a while.
Back in the late 1990's there was a R.E. agency "Home and Gardens" I believe was the name of the company. They would list each house in a sliding scale range. One house would be listed for 200k-215k. I haven't seen them around for a while.
Weichert Realty franchises, in NJ, tried this approach, too.
Just heard that 93 homes that participated in the event, in the greater Chicago area, got sold. All things considered, that's not too shabby.
Assume at least half of those sellers might be in a better position to buy something, there may even be a mini domino effect.
That's great news. It's nice to think that stress has been removed from 93 families. Imagine how many more would've benefited if the sale hadn't hit in the middle of the Wall St meltdown.
Remember you get what you pay for. Your Brokers Commission is not only selling your house, it is marketing your home and getting the best price possible. If your house was overpriced to begin with whose fault is it, yours or the brokers. Ultimately would not take a listing if the seller was not willing to price the home correctly to begin with.
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Originally Posted by lprovo
If real estate agents are so good about knowing how to price a house, how come there are so many overpriced houses on the market? Can it be that ALL these sellers went against agent advice and CAUSED the housing industry mess themselves???
If I was a home seller using Coldwell, I don't think I'd agree to the price cut unless my agent joined in the fun by cutting her commission! In fact I'd consider canceling the listing, reducing my price by 6 - 10% and selling "by owner" instead.
Back in the late 1990's there was a R.E. agency "Home and Gardens" I believe was the name of the company. They would list each house in a sliding scale range. One house would be listed for 200k-215k. I haven't seen them around for a while.
It is called Value Range Marketing and is still used in many places. We can do VRM with our MLS and some agents do.
shelly
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One house at a time
