Price and Time

for_sale

Two winners were talking. They discussed the sale of a property one had for sale. The winner said, “In this market, if we don’t have it sold in two weeks we’re in trouble”.

From the perspective of both lister and seller, this has interesting connotations. In previous times price was all important. In today’s online market, it is now Price and Time. And it might be with us for a long time to come.

Another thought: this could have less to do with the market and more to do with the speed of today’s modern electronic marketing. If this is the case, Price and Time might be with us forever.

The winner explained it this way: “Buyers show up whether you’re priced right or not. They view and move on. If your listing is overpriced you might not get them back“.

In cooling markets this could become more relevant as buyers have more properties from which to choose.

The implication for today’s sellers is simple: leave a property languishing on the market for too long and you can lose the best buyers.

And for today’s listers, “List and hope” is not a strategy (if ever it was), neither is “List very high and take your time reaching market price”.

More than ever, listers need to consider whether the sellers they are about to list are deadly serious about selling, and whether they are prepared to meet the market sooner rather than later. After all, they have to meet the market if they are going to sell, so why waste good buyers and time?

Work with your sellers and help them understand the urgency in entering the market at or near a fair market price. Remind them that if the property goes stale, they have missed their best chance to sell at the highest price.

Stale properties often require a massive drop in price to get them sold.

Don’t put your sellers through that.

Recent Articles

Profit Systems

In the eighties, management expert Michael Gerber coined a phrase that became popular across the world: "Work on your business, not in you...

Whose Bright Idea Is This?

It is no secret that far too many business people, salespeople and leaders, hold training in low regard. In this short leadership session, real es...

Why You?

Salespeople spend a lot of time trying to convince sellers how good they are. They talk about the advertising they do, the awards they've won, the res...

Smart Goals Aren't Enough

If you have received even a modicum of real estate training, you know about SMART Goals: specific, measurable, achievable, realistic, and achievab...

When Salespeople Won't Do the Actions

In my work as a real estate agency profit consultant, I have heard all the excuses. It's twenty years since I heard a new one. The com...

Break Even Early

"If you want to boost your real estate agency's profit, put more focus on your agency's Break Even Point", says real estate agency profit consulta...

Studying in the 21st Century

Any person who wants to succeed in their career must study their craft. Self-improvement isn't a luxury. Winners realise that every dollar they inv...

How To Enjoy Your Work

Sales can be a tough career. We face rejection daily, doing most of our presenting in unfamiliar territory. We know that we are only as good as ou...

Less Selling, More Leading

Multi-tasking is a myth. While performing two straightforward chores at the same time is easy - you can stir the custard while talking on the...

What is a Result

The best leaders Pittard works with NEVER allow their offices to close unless their agencies have at least one real result for the day. But what i...

There's More To a Good Sale Than Just Closing

Everybody wants to be a better closer. Of all the skills salespeople say they want to improve, it's closing. But there is more to a GOOD sale than...

No Bad Days

In this short sales session real estate agency profit consultant, Gary Pittard, says that, for most salespeople, a typical month is a string of ba...

Want to reach your profit potential? Contact us now.

Pittard


Suite 71, Level 4
330 Wattle Street

Ultimo NSW 2007
Australia


Mailing Address
PO Box 2045
Strawberry Hills NSW 2012


: (02) 8217 8500
Fax: (02) 9281 4198
AUS Free call: 1800 663 600
NZ Free call: 0800 448 065
International: +61 2 8217 8500

: info@pittard.com.au

Contact Us