Did Dip 2 Kill the Summer Real Estate Market?

By shaye • August 23rd, 2010

Just in case you have not noticed the D R O P in Real Estate sales over the past 45 days…we are now in the second “Dip”. So is the Real Estate Market Dead? Absolutely NOT! It Traditional Maketing Dead? Yes. My logo “Time for a Change” has never been more true. Not only have values changed, but the complete marketing procedure is now a whole new ball game.

If you think that keeping the status quo will get your home SOLD…think again. Today’s market is a combination of a Price War & a Beauty Contest rolled into one. Let’s begin with the beauty contest…remember the days when seller’s gave an “allowance” for new carpet and/or paint. Today’s buyers do not want an allowance…they want it DONE, and done WELL. Don’t expect to add the improvement to the value of your home either. It is just the opposite…if you do not have it done, the buyer will make the deduction, and a greater deduction then the actual expense. So that brings us to price.

The market changes daily. If you are not receiving multiple showings then you missed the mark…if you are receiving multiple showing, but not receiving any offers, then you missed the mark. Unlike a typical target range, the Real Estate Market is not static. It is moving perpetually, and your marketing better keep up to pace, in fact…it should surpass the market’s expectations. That’s right; give more, and ask less. Today’s marketing plan MUST HAVE a price adjustment built in, and even more important…FOLLOWED.

You are afraid that you might look desperate if you continually reduce your list price…Don’t Worry be Happy as the old song goes. Buyers are looking for “desperate” sellers. Those are the properties that are keeping the market alive today.

Price adjustments are not the

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only marketing required, but it is the only one that I am discussing today. Tune in for more later. You can always find more at: http://www.landeslanding.com see you there.

With 30+ years of experience as a Real Estate Broker, Phil is ranked among the Top 5% of Realtors

 

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