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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Where are the buyers? Posted by Rick, the Probate Guy on August 01, 2006 at 5:18 PM In Reply to: Where are the buyers? posted by gc on August 01, 2006 at 2:36 PM GC - Sorry to her about your tales of woe. You are not the only one facing this delemma, however. If you have inventory that you wish to sell now (I've been selling off what I need to) then you'll want to avoid chasing the price curve as it appears that you might be doing. There are buyers for properties at the right price/terms/product mix most everywhere. If I was in your shoes I'd call a very quick time out to re-group. That might require taking your property off the market for a week or two, re-affirm where the market was in order to figure where to price your property. I liken it to shooting skeet targets with a shootgun; about all you can do is lead the target because it's moving so fast. Ward is a big advocate of trying to add glitter before using price discounts. I've had good luck with spending more money by increasing the selling (buyer's) agent's commission. If property worded in the MLS, a fat commission will sometimes get the attention of an agent when other factors don't. Also, a 1% bigger commission may only cost you $5k vs. a $10K or higher discount may not impress buyers. I think the most important thing is to get buyers and their agent's attention. Pricing and merchandising is merely academic if no qualified buyers have an interest in the first place. Buyers, of course, know that they have more choices today than last year so they're likely to bargain harder for a deal. However, if you can demonstrate that there's more than one buyer circling the property, they may back off. This is really not my expertise and there are many more people with much more experience and knowledge in this area than I have. Anyone else have some actual, hands-on experience )that they want to share with GC? Follow Ups: rick is right Lughead 7:25 PM, 08/01/06 (1) Re: rick is right bukzin 8:06 PM, 08/01/06 (0) Post a Followup: Name : E-Mail : Subject : Comments: : GC - Sorry to her about your tales of woe. You are not the only one facing this delemma, however. : If you have inventory that you wish to sell now (I've been selling off what I need to) then you'll want to avoid chasing the price curve as it appears that you might be doing. : There are buyers for properties at the right price/terms/product mix most everywhere. If I was in your shoes I'd call a very quick time out to re-group. That might require taking your property off the market for a week or two, re-affirm where the market was in order to figure where to price your property. I liken it to shooting skeet targets with a shootgun; about all you can do is lead the target because it's moving so fast. : Ward is a big advocate of trying to add glitter before using price discounts. I've had good luck with spending more money by increasing the selling (buyer's) agent's commission. If property worded in the MLS, a fat commission will sometimes get the attention of an agent when other factors don't. Also, a 1% bigger commission may only cost you $5k vs. a $10K or higher discount may not impress buyers. : I think the most important thing is to get buyers and their agent's attention. Pricing and merchandising is merely academic if no qualified buyers have an interest in the first place. Buyers, of course, know that they have more choices today than last year so they're likely to bargain harder for a deal. However, if you can demonstrate that there's more than one buyer circling the property, they may back off. : This is really not my expertise and there are many more people with much more experience and knowledge in this area than I have. Anyone else have some actual, hands-on experience )that they want to share with GC? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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