Peter Mohylsky (PMI. Destin)

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I have withdrawn, refreshed (improved condition) & relisted 3 times this year - all three had almost immediate 99+% list-to-sale price ratio sales. 

Sadly, but a good lesson for sellers that I have already begun sharing, all 3 were paint related. Yep, simple painting that most sellers think, "Oh, the buyers will want to choose the paint colors."

Nope! Buyers don't want to lift a FINGER! Paint it neutral, THEN list!

Aug 10, 2019 11:19 AM
Rainmaker
5,580,934
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

strategy???  the listing presentation gives them the fair market value range of the property..... if they want to bump it up for 10 days max, we'll do it but they MUST agree to reducing it if the activity stops.... that's how we do it...and they DO agree in writing to adjust the price or we won't take the listing.... 

Aug 10, 2019 11:18 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Keep reducing the price. There is no magic bullet.  If funds are not spent to improve it then the price  is the remedy. 

Aug 10, 2019 10:45 AM
Rainmaker
4,270,182
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Listening.  Discussing.  Pausing often works well in both thought and in action.  Interpretations related to real estate are appropriate too.  

Aug 10, 2019 09:37 AM
Rainmaker
1,431,721
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

You could withdraw the listing in the MLS, get the condition improved quicker, then bring it out new with new photos.  That may make it look like a new house to people and could spark interest.

 

Otherwise, drop the price 5-10k and see what happens.

Aug 10, 2019 09:24 AM
Rainmaker
4,504,635
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Depends on the listing... strategy could widely differ. One thing I don't believe in doing is "bleeding down" a price. A price adjustment needs to have impact and it needs to bring in a new crop of buyers.

Aug 10, 2019 11:50 AM
Rainmaker
2,086,256
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

It all depends on the Buyers position, do they have to sell or can you pull it from the market for 3 to 6 months Peter Mohylsky, SoWal Is HOME. ?

Aug 10, 2019 07:14 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Best start with a strategy before listing and do it quickly and enough to make an impact.  Though I prefer to pull it, fix it up, and remarket the new and improved edition.

Aug 10, 2019 08:10 PM
Rainmaker
1,028,297
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

If there is any issue with condition, that is what needs to be address...assuming it can be done reasonably. I agree that most buyers are looking for turn-key home. Homes needing paint of new flooring fall to the bottom of the list now that inventory has increased.

Aug 10, 2019 02:34 PM
Rainmaker
871,158
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Monitor comps and keep communicting with sellers. Usually their estimated net proceeds influences their decisions.

Aug 10, 2019 12:19 PM
Rainmaker
2,692,684
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

to avoid lowering or longer DOM I come out at market or below. You can always go-up, refuse to sell or start bid wars with this strategy. Lowering prices sends a powerful message to buyers/agents not just to buy but counter, insist on repairs and ?  If you are within range as you say, wait it out or lower a nice some and hold there.....

Aug 10, 2019 12:09 PM
Rainmaker
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Roy Kelley
Retired - Gaithersburg, MD

Tell the sellers what is needed.

Aug 10, 2019 11:37 AM
Rainmaker
4,362,197
Richard Weeks
Dallas, TX
REALTOR®, Broker

If the property is way over priced I don't want the listing.  If it is slightly over priced I would build the price reduction strategy into the listing agreement.

Aug 11, 2019 03:59 AM
Rainmaker
4,579,468
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Price condition and location are the main factors. No improvement of condition means you need a price reduction. You can't change the location.

Aug 10, 2019 12:52 PM
Rainmaker
1,058,262
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

If we do not get inquiries, showings, 2nd showings or offers in 10 days the seller is already aware we will price adjust

Aug 11, 2019 12:53 PM
Rainmaker
468,849
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Forget about "being in the ballpark for the neighborhood"  - if buyers can choose a similar home for less - they will. The home needs to be the "best" value in the neighborhood - buyer's don't buy the second or third etc choice - they buy the best. Of course the other sellers love them for their assistance in helping them get their homes sold. So My strategy is to do large enough PR to be the "best" value in the neighborhood.

Aug 11, 2019 07:33 AM
Rainmaker
2,054,999
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

We need to reach a new audience - and there’s Nothing Left to Prove at this Price Point ! The Market has voted based on their indifference !

Aug 11, 2019 07:12 AM
Rainmaker
1,386,785
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

45 days is too long. Sellers need to be shown properties in the same price range and see how theirs compares.

Aug 11, 2019 05:51 AM
Rainmaker
5,768,126
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

I agree with both Michael Jacobs and Barbara Todaro 

Aug 10, 2019 02:46 PM
Rainmaker
1,185,039
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Here in Mtn View, CA outside of FB, Linkedin, Googl, Amzn offices-ditto.

Last year, if you opened a garage door which is empty, is the house for sale? When is the last day to make an offer? All sold data means little. Market definitely has changed Right now, Huawei is having its massive local layoffs. Garlic farm is hiring as 25% tariff has kept jobs in the US(for now). The day labour outside HD wants $35 an hour great comida benefits. Why? My friends can not get across the border anymore, senor

The Trade War is in effect. We feel every bit of it as we are facing the Pacific.

Aug 11, 2019 08:03 AM
Rainmaker
710,199
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Get a reduction from the seller every 30 days.

Aug 13, 2019 01:30 PM
Rainmaker
5,337,565
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have the same strategy as Debe.

Aug 29, 2019 03:40 PM
Rainmaker
2,066,224
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Price to be lower - closed sale in area..

Aug 15, 2019 02:06 PM
Rainmaker
1,598,130
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Yeah, right, we are talking abour reduction. What if the seller does not want to do it?!

Aug 14, 2019 05:53 PM
Rainmaker
4,346,575
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I have reduce by $5000 every 3 weeks till it sells

 

Aug 13, 2019 02:55 PM