

3,448,216
I believe some agents may wing it ... others of us do our homework and know where the sweet spot is in pricing.
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Anna "Banana" Kruchten
Phoenix, AZ
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Jeff Pearl
Lovettsville, VA
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Steve Higgins
Kelowna, BC
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Kathleen Daniels, Prob...
San Jose, CA
625,312
It's not only the Agents, it's also the Lenders! The last three transactions I had the Lender decided to not send an appraiser out, but instead do a AVM...
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Brenda Mayette
Glenville, NY
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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Shayne Stone
Fulshear, TX
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Steve Higgins
Kelowna, BC
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Kathleen Daniels, Prob...
San Jose, CA
835,092
It is almost impossible to do a CMA here as houses are selling anywhere from just under list to $200,000 plus over list. There is a townhouse out here on Vancouver island that was listed for $1.4 m and sold for 1 million over asking can you imagine the look on that sellers face when that offer was presented?!!
I had two listings that I thought were priced well and 1 went for $5,000 under list and the other went for $145,000 over list we knew the one was going to go over list as we had 42 showing, 6 bully offers and 17 offers in total. The other we thought would go for asking or a bit higher we had 3 agents say they were going to offer but once they heard there were going to be multiple offers they backed out it went for $5,000 under list. The market here is just wild. No rhythm or reason right now.
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Kathleen Daniels, Prob...
San Jose, CA
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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Joan Cox
Denver, CO
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Ron and Alexandra Seigel
Carpinteria, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
2,718,578
Price, cost, and value are three different things. Some people don't know the difference.
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Brenda Mayette
Glenville, NY
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Steve Higgins
Kelowna, BC
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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Wayne Martin
Oswego, IL
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
542,916
It certainly has gotten more difficult. Sellers are demanding prices beyond actual value. You really have to do your homework.
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Brenda Mayette
Glenville, NY
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Kathleen Daniels, Prob...
San Jose, CA
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Steve Higgins
Kelowna, BC
1,480,491
We have a phrase in our market for a pricing strategy that lists a home for way less than market value in order to stimulate bidding. Homes are listed at prices which the owners would not accept if a buyer was willing to present the seller with a suitcase full of cash equal to the list price. It is called "fake pricing" and it is a real thing. It make me embarrassed to have to work along side such incompetent, lazy and just plane deceitful agents.
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Steve Higgins
Kelowna, BC
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Kathleen Daniels, Prob...
San Jose, CA
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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Joan Cox
Denver, CO
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Ron and Alexandra Seigel
Carpinteria, CA
1,546,784
It's something that needs to be taught in onboarding. More art than science.
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Brenda Mayette
Glenville, NY
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Kathleen Daniels, Prob...
San Jose, CA
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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Lyn Sims
Schaumburg, IL
5,774,106
Kevin,
You have some wonderful commentary, and I would have made a similar remark as Fred Griffin Tallahassee Real Estate did. A
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Fred Griffin Florida R...
Tallahassee, FL
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Steve Higgins
Kelowna, BC
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Kathleen Daniels, Prob...
San Jose, CA
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
427,377
some wing it, some do their job.
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
1,315,836
It is an art not a science. I am not really sure I understand what is going on right now. Appraisers seem to be bending their knees first and what was intended to be a check and balance in the system has finally shown its faults.
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Peter Mohylsky,
Inlet Beach, FL
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Brenda Mayette
Glenville, NY
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
5,563,012
Fred Griffin Tallahassee Real Estate nailed it! Some agents just roll the dice and some let the seller roll the dice to get the listing.
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Fred Griffin Florida R...
Tallahassee, FL
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Kathleen Daniels, Prob...
San Jose, CA
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
6,057,183
We are seeing quite a few price reductions now, thinking the agents/homeowners are still reaching for the stars.
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Steve Higgins
Kelowna, BC
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
3,693,009
Kevin it appears it makes almost no difference as to what a property is priced at in my market. Almost all sell for over list. With that said....this past month or so it's getting beyond ridiculous and greedy sellers are marking them up way too high. At some point, buyers will stop the frenzy. I for one was looking for a golf course home but at this point I'm going to chill out until something with reasonable value comes on the market.
As for my market listings I know exactly what to price them at as we watch the market daily.
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Brenda Mayette
Glenville, NY
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Michael Jacobs
Pasadena, CA
2,873,833
Real Estate is worth what it is as stated in the appraisal world i.e. a value at a given time not for all time. Supply & demand is begging to be heard here. A trend is about & like water, will seek its own level. When? How? Where? Who? Why? Who can say. All I know is: Get in or out (now) of Real Estate as it benefits you. All clients should be briefed accordingly
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
2,259,733
Real Estate evolves thru familiar looking cycles
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Kevin J. May
Hobe Sound, FL
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Michael Jacobs
Pasadena, CA
936,878
Some sellers are listing high not caring whether it sells or not. Just about every day now, I get emails from agents letting me know about huge price drops. It could be some agents fed seller bs just to get the listing, then started thinking about their approach to sellers for getting price reductions.
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Michael Jacobs
Pasadena, CA
921,504
Not long ago I owned a coupole dozen 35 watt UV lamps that I paid $17 a piece. I sold them them for $250 a piece.
Was I 'winging it?"
Did I lose the 'art of pricing?"
If there is only one comprerable house for sale in the CITY that is not updated, would I price my new updated listing according to recent sales or market demand?
The latter, 'recent sales' strategy is one of the lazy agent. Let face it that will be an easy sale.
The hard working agent will exceed the conventional 15% ceiling by an additional 20% then protect their seller by not allowing the bank to become a negotiator.
Sellers are actually willing to accept the "comparable sales' data. But the fortuneate one hired a hard working agent.
Even with that extreme strategy, the hard working agent often has the house sold above list price before it shows in the MLS. That is when having a good audience of proven buyers becomes as valuable as the listing.
This reality is when those who argue proper exposure can only be achieved via the MLS is laughable.
However, if the real estate business was actually democratized and buyer and seller remained anonymos and ALL bids are posted in public all of this strategizing would become irrelevant.
Here in Florida, so much 'non-local' money is involved competing for a smaller pie prices are going in one direction only. And the lucritive $3,000 a month apartment reantal market is attacting investors with deep pockets. With the media incessantly reporting these trends buyers are realiizing they have to not only step up to the plabe fut swiing for the fences if they want to move.
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Michael Jacobs
Pasadena, CA
6,772,276
As always it it an Opinion, not everyone will agree on anything.
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Michael Jacobs
Pasadena, CA
796,839
879,347
Many weren't good at it before this latest chapter. HA! The true professional is keeping up with the changes and knows how to best advise a seller to position a property for a solid market response. This should be the case in any market condition.