I had a friend in college who used to say “You can lie to yourself, but you can’t lie to me”. I’m thinking about putting this on my business cards…
The fact is sellers are always lying to themselves. And we (realtors) let them. And the buyers let them too. Sellers want to believe their own reality. Here is the biggest self lie.
“Lets try it at the higher number”.
Are you kidding me? Sellers: you should be meeting with your agent on a weekly basis. You should be looking at a market analysis on a weekly basis. You should be adjusting your price to stay ahead of the market on a weekly basis….. Otherwise, you’ll blame your agent for not selling your overpriced property. You’ll let the listing expire. You’ll get 1000 call by the sharks who practice scripts everyday to convince expired property owners to list with them. You think I’m kidding???
Expired Owners: Ask the Realtor who is calling if he/she uses a system for expireds. For example, The Mike Ferry system is very popular with a couple of realty offices in Hoboken. It’s a system realtors use to convert expired listings to re-listing with them. These systems have great scripts. Script after script after script, all with the objective of getting an appointment to sell your home. So after you hear several of these pitches, you bite and the “New” realtor comes over for a marketing presentation. Guess what the first thing they don’t do is???? Raise the price. I’m betting there’s no script that says “Wow Mr. Seller, the truth is the reason your previous realtor didn’t sell your place was because it was way underpriced. I think we chould raise it.” See for the “Expired Hunters”, its about getting your listing and getting price reductions. Back to the TRUTH: For sellers who dont’ want to see it. Some Hunters will take your listing at any price and then pressure you into lowering your price later. Where is the marketing aspect? It’s about the price. It’s about the price. (Did I say that already?)
46 Expired in the last 30 days
165 Price reductions in the last 30 days.
Don’t be that guy. Swallow a dose of reality up front when you are choosing from a pool of realtors that focus on marketing and sales, work constantly with your realtor, hear the TRUTH. Otherwise you’ll be thrown into the pool focused on a wounded animal (your over priced expired property).
The market is changing; you can either change with it or change your phone number.
Prime Real Estate Group
201-232-4568 cell Email Brian
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Brian Murray is a broker salesperson at Prime Real Estate Group in Hoboken. As a broker, I have advanced training and a deeper understanding of the real estate market than a sales associate. I am Hoboken resident who has lived in Hudson County for the past fifteen years. I have been a full time realtor in Hoboken for the past thirteen years.
Brian really helped me with his knowledge in this crazy market. Could not have done it without him.