Quote:
Originally Posted by Julio
I know a few of these people 1st Land...they are really frightened...I have had one lady in our building come out and actually yell @ my g'friend because we lowered the price of our place because she feels it invalidated how much she paid for her similar unit @ the top of the boom.
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some people dont have a choice. They need to re-locate for work or for family reason, or they are building a new house, so even in a negative equity situation (which they are blissfully ignorant of until I show them a list of comparables) they need to / are motivated to sell.
I recommend renting to my clients (renting their residences instead of selling) that way they dont have to take a huge loss and have the potential to recoup more value out of their home in a few years time if things pick up and change.
I've had one client specifically tell me that he wants to throw in a free trip to mexico to either the buyer or buyer's agent. This is as opposed to lowering the price.
At the end of the day, List Price is the best marketing tool for your property, with pictures coming in a close second.