I hope it’s obvious that it matters who you hire as your realtor – we’re not all the same. It didn’t matter much during the frenzy, because even an agent who kicked the crap out of the sale could still find their way to close over the list price.
But not now.
In today’s market, sellers risk getting lowballed, or not selling at all.
After one lowball off-market sale and three unbelievable 10% dumps on price, the entry-level market in Carmel Valley looked like it was in freefall. The sellers and I had already decided to list for $1,675,000 – and I advertised it here – but the next day, two of the dumpers closed escrow. The other listing on the street had been unsold since they had listed for $2,150,000 on June 24th, and they had just lowered their price another $100,000 to $1,650,000 on the same Thursday.
I rallied with my clients and they agreed to my strategy of pricing attractively, so we changed our list price and entered the market at $1,599,000 with the intent to sell the first weekend.
But our list price wasn’t way under market – no, it was full retail, based on those most recent sales.
What made the sale was the combined package of a turnkey property with an attractive price that was well-presented and pushed hard by the agent (me). Once I received three offers, I pitted them against each other and bid it up to $61,000 over my list price on the weekend before Thanksgiving!
The buyer who purchased my listing also bought the house on Valerian Vista (which was five years newer and the lot was 42% larger) in the similar and neighboring tract called Manzanita Trails. Yet the same guy was willing to pay $80,000 more for my listing and close in two weeks.
He had just lowballed a better house by $178,000 and it worked.
Yet, he was willing to buy my listing for $80,000 more than he had just paid the same week?
It’s a great example of how critical it is to hire an agent who has an effective strategy to sell your house.
Get Good Help – Hire Jim the Realtor!