Overpriced Listings, Pricing Correctly, Brochures and Photos

One of the most aggravating things I run into as a Realtor is seeing so many over-priced listings. Why is this? Is it because there are still too many inexperienced realtors that do not have the expertise to advise their Sellers properly? Every experienced agent knows that  the proper listing price is a major factor in bringing in an offer quickly and nets a higher price. It is real estate 101. I have seen so many houses that have waited too long to get real and now they are paying the price! Now their listings are stale and lack the appeal of a new listing and they could have been long gone at a higher price if they were priced properly to begin with. A good agent is constantly updating the competition and keeping the Seller informed if it is necessary to make price changes as well.

Equally hard to understand is why some homes are listed at prices like $449,900. When it is priced this way you totally lose the buyer who is running a home search for $450,000 and above.  When a house is listed at $450,000, it will get the buyers looking at let’s say $400,000 – $450,000 and the buyers who are looking at $450,000 – $500,000. It is our job as realtors to direct the Sellers to the best marketing strategy.  I have always felt that if you do the job well, you deserve to be compensated well; however, some of these agents are not doing any favors to their Sellers.

Time to mention another few pet peeves. I can not tell you how many houses I view that do not have a brochure. I always do a brochure listing all the features of the house with color photos so that the buyers will have a chance to review all the features they may have not noticed when they have viewed so many other houses.  Houses that show well should always have a virtual tour, but not many do. Additionally some of the photos taken of the house that are attached to the multiple listing (that is many times the first thing the potential buyer looks at) can be deplorable. It is especially disheartening when you see a nice house with a great view and photos that are not representative. If the agent can not take good pictures, hire one who will!  

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