The Stretch Run

It’s April and we are heading into the homestretch of the Spring real estate market.  There are approximately five or six weeks left.  More activity will occur during this time period than during any other consecutive six week period this year in the various market places throughout the United States.

Simple Research

I personally conducted a quick and simple analysis of the properties that we had listed at this time last year.  A number of our clients realized that the best way in which to increase activity for their properties was to adjust the list price.  Among those who did, 44% of them saw their properties go under contract.  List prices ranged from $2.1M to $159K.  The data certainly suggests that there’s a lot of hope for home-sellers.  If you adjust your price now, you basically have a 1 in 2 chance of selling.

Compelling Analogy

I once read interesting dialogue between a Realtor and her client.  I don’t even remember where I was when I saw it but the Realtor made an analogy between the importance of pricing and baking a cake.  She said to her client, “I don’t know if you’ve ever done much baking, but one of the vital ingredients to making a lovely cake is baking powder.  And if it’s missing, the cake doesn’t rise.  In fact, no one eats it or even wants to look at it.  Well, one of the vital ingredients to getting buyers to, first look, and then offer on your home, is price.”

The Gambler

As Kenny Rodgers declares in his famous hit The Gambler, “You got to know when to hold ‘em, know when to fold ‘em.”  It’s not always an easy decision, but the market place speaks loudly and clearly.  If a home-seller has luke warm intersest in their home and no offerings, it’s usually due to price.  Thus, if you are considering your options, remember the cake without baking powder.  And remember that we are heading into the stretch run.

Do you have an effective analogy to help a home-seller decide whether or not to adjust their asking price?

How about an effective visual?

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