steve's White Mountain Blog

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Marketing Vs Price, win the listing & be thier trusted advisor for life.

 

 

Marketing Creates awareness – While price creates activity.

Seller's often think more ads equal more activity…this is not what the data shows in the real world. 200 Realtors were recently polled… “How many of you have sold The Property to the person who called on That property ad” in the last 6 months? The answer may surprise the consumers but not the Realtors in the room. About 5% said the caller bought the house they called about.

Ask your seller “would it be Ok –if you paid for print Ads for the next 6 consecutive weeks…knowing the callers are 95% more likely to buy something else as a result of that ad money being spent”? I think you will find nearly all would not want to waste “Their Money”.

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The time to Analyze Market conditions is before listing not after.

When going in to a listing presentation with real data, impress upon the seller the pit-falls of trying to Beat the Market and ask them based on the data (if they were a buyer) what they would pay for their house.

 

A helpful tool is to seek three outcomes before buyers and seller start the negotiations: Unacceptable – Acceptable-& Preferred.  For the Specific Factors that will be negotiated…Examples:

                         Preferred   //    Acceptable//    Unacceptable

Closing date -   July 15th   /    July 7- the 30th  / Before the 4th of July

Closing cost  -  $1.000     /   under $2,000    / over $2,000

Selling price -  $300,000  /  $285,000- $290K  /under 275K 

When setting these expectations and having an offer to compare it to many times the seller and his trusted advisor can conclude “We should sign this one” This allows you to highlight areas of mutual agreement and removes a lot of the emotion from the sale.  It also allows you to define alternatives if you reject a proposed agreement.

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If need be “the” post listing price discussion…again current data is your friend. It allows you to tell a seller what buyer’s have chosen to do with their money while your seller was in the same market. Bring the closed sale listing sheets to your meeting…and if there are two sellers make sure they are both in attendance.

If a price reduction is warranted show the closed comps to the seller… Ask them if they feel their property is superior to the closed sales. Many times they will say yes – we do feel our home is better than the ones sold. Put the burden on the past buyers here…these buyers had the opportunity to purchase your home, but chose these…why is that? They saw more value in the alternative properties than yours. This will bring the topic full circle – Marketing creates awareness but price creates activity!!  Remind your seller most buyers are represented by their own Realtor and they have access to this same data. If you did your job as a trusted advisor at the time of listing…you have all the tools to review the acceptable outcome.

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Your trusted advisor in the White mountains of New Hampshire. Call me: 800-926-5653…when buying or selling real estate in the “Live Free or Die” State, I’m your Realtor – Steve Loynd – 30 years of marketing and sale experience.

 

 

 

 

                       

                                                                                                                                                                              Your-White Mountain New Hampshire real Estate Expert

                    steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898

                        MLS search and Realtor web site: www.alpinelakes.com

                         My outside Blog: www.steveswhitemountainblog.com

                    Lincoln NH &  Local interest site: www.localism.com/nh/lincoln

    Grafton County NH MLS search

25 commentsSteve Loynd • April 13 2014 08:21AM
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