Guru Says One Third of Sellers are Delusional
How about some bookmark love? ::
Giving points to the OC Register, the recent interview with Real Estate Guru, Phil Immel.
Phil's sentiments shed new light on the market from a top producer standpoint. In the interview, Phil says, "..only one-third of sellers are serious; one-third are testing the market; and one-third are delusional..". The question is, how does Phil draw that conclusion? Here's how, Phil and his team currently have 23-28 active listings. That means that Phil himself talks to a TON of sellers. He has the opportunity to interview them during part of his interview process to win the listing. Part of a good agent's job is to be part counselor, part marketeer, part economist, and part therapist. When he says that 1/3 of his potential clients are delusional, I believe him.
Perhaps the best way to interview the starry-eyed is in comfort, Phil I can tell you where I found this one:
Phil's sentiments shed new light on the market from a top producer standpoint. In the interview, Phil says, "..only one-third of sellers are serious; one-third are testing the market; and one-third are delusional..". The question is, how does Phil draw that conclusion? Here's how, Phil and his team currently have 23-28 active listings. That means that Phil himself talks to a TON of sellers. He has the opportunity to interview them during part of his interview process to win the listing. Part of a good agent's job is to be part counselor, part marketeer, part economist, and part therapist. When he says that 1/3 of his potential clients are delusional, I believe him.
Perhaps the best way to interview the starry-eyed is in comfort, Phil I can tell you where I found this one:
Rory -
Great point in this post. I'd love to get your take on how sellers can fairly price their home to sell in an acceptable time frame with out totally bottoming out the price. The pricing strategy is one that is a lot of art to go along with some science.
Posted by
Morgan |
11:08 PM
The central strategy should be to base the listing price on the comps that have already sold.
Don't be tempted to list the home for the price point where the others are listed.
After all, the goal should be to sell the home, not just to list it.
Second, figure out which direction the market is moving, and get ahead of it with the price. It is a huge mistake to overprice and chase the market down.
Those two points would be the strategies for people who need and want to sell.
If you are just testing the market, or trying to treat your property like a hedge fund, then price it higher, and wait and see what happens.
Posted by
Rory |
11:39 AM