In most of our markets we are all having to adjust our prices down at this time to some degree or another. It is sometimes difficult to educate a seller about the current market when their neighbors home sold last year for more than homes are selling for now.
Here's an innovative approach that I am lucky to have available to me.
Each Tuesday the Realtors from my office spend two hours visiting each others listings to critique them. This has proven to be a very educational experience for the rookies and a great help to the Realtors whose listings we have visited. It gives the listings much needed exposure and a chance to gain a fresh perspective from the top agents in our office. We share ideas and help each other because we know that together we achieve more.
This is not your typical "Broker's Open." Usually there is nobody home and there is no food. In this video we got lucky with some wine and cheese, but it is usually a pretty dry experience. Watch this five minute YouTube video I edited myself. (It was my first time, so please be gentle!)
I haven't had much trouble getting my sellers to price their homes properly. The numbers don't lie. I keep them updated with data from the MLS and show them the trends. If they're unable to price properly, I don't take the listings.
But it looks like you guys had fun. Do whatever it takes to get your listings priced right. Nobody wants a listing that's just going to sit on the market forever.
Lisa - I sure don't want a lisitng that will sit, but I have a couple that aren't moving even though they are priced great. Condition also is playing a big factor in my market. This also helps to motivate the sellers to make improvements or enlist a stager for their listing.
Great job. You did well, I'll need you to show me how to do "you-tube"
Jim
Thanks Jim! It really wasn't that hard, just time-consuming because I didn't know what I was doing. Now that I got the hang of it, I will be doing videos all the time! LOL!
Gary , Thanks! I have a "c" and a "d" right now. "d's" are the worst. This is just like a caravan then. Realtors that are participating are able to get reductions based on the feedback from Judgment Day. It helps.