"We're not just giving it away!"

By
Real Estate Agent with Charles Rutenberg Realty Inc. 516-575-7500 NRDS ID#641625055

 

Line Heard Most Frequently in the Real Estate Community -

"We're not just giving it away"

 

I have no statistics. This is completely unofficial. Just one of those, "if I had a dollar for every time I heard this"... type of thing.

 

My point is - from everything I've observed - there's really no such thing as giving away real estate.

 

If a house is very well-priced, and I mean this from the perspective of the careful analysis of a recent market, and not from the homeowner's love of everything turquoise and her extreme reluctance to part with it, then interest will be high.

 

A buzz will be created and buyers will be coming out of the woodwork to view it and to exercise their option to buy it. Multiple offers will come in; a bidding war will ensue and, before you know it, the sold price will be right back up to where it was always supposed to be.

 

The same strategy was always employed with short sales and foreclosures. A ridiculously low asking price generated a long list of prospective buyers. By the time you were instructed to deliver your "highest and best" offer, the sale price was not so far from what one could reasonable expect the house to sell for in that market minus the cost of repairs.

 

Traditionally, my family has greatly anticipated annual super sales. Only crazy, doorbuster pricing for 65" screen T.V.'s with a fancy remote or all-in-one p.c. could compel a middle-aged man with various neck/back/leg complaints to spend a frigid night sleeping outside the local electronics store except for the golden opportunity to walk away with one.

 

Consider this basic economic concept - a restricted quantity of goods, offered for a song will always amount to a horde of people lined up around the block - many still in their pajamas! At least in real estate, that crowd will push the price up.

 

Homeowners:  Have no fear! If your house is really that well-priced, you will certainly know it. Demand for your property will be great and you will definitely not have to "give it away" unless, of course, you're inclined to.

 

The real estate game is played by getting in and out of the market quickly, before hardly anyone even notices you're for sale.  That's why agents push so hard for accurate pricing. You want buyers to chase you and not the other way around!

 

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Reach me @516.395.8376

 

Long Beach is a diverse community that is never short on entertainment. Interested in moving to Long Beach?

Don't hesitate to call me and we can begin our tour.

 

 

CHARLES RUTENBERG REALTY INC.  *****  516-575-7500  *****

ABOUT THE AUTHOR: Graduate REALTOR Institute 

Jill Sackler, NYS Real Estate Broker Associate based on Long Island's South Shore
 
 

Jill Sackler

 

 

  

     Specializing in Lifecycle Real Estate Transitions

"When your family doesn't fit your family home, I can help."
 
 
 
 
 
   
   

   

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©Jill Sackler 2010
 

 

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Show All Comments
Rainmaker
703,278
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

William Feela Thanks for taking the time to read this.

Jeffrey DiMuria 321.223.6253 Waves Realty Thanks. Better to get it right from the first. My husband's family is in Melbourne.

Sheila Anderson I appreciate all my readers, of course, but none more than the ones who have been there since the beginning, when my writing was tentative, at best. Wishing you all the best, always.

Mar 06, 2018 09:58 AM #4
Ambassador
3,267,365
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Jill- very well said!  I've heard that remark and I'm not even an agent. Buyers are more aware of the market trends and even though inventory is low, they will need to the value of what they're purchasing. 

Mar 10, 2018 01:11 PM #5
Ambassador
3,267,365
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

         

                               Thank you Jill!!!

Mar 10, 2018 04:43 PM #6
Rainmaker
3,386,030
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Jill Sackler ,

I'm so glad Kathy Streib featured your post in her "Ah-Ha" moments for the week! You are right on the money....Sellers want buyers to chase them, not the other way around!

Mar 11, 2018 05:18 AM #7
Ambassador
1,552,187
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Ah, such good advice. The "give it away" phrase bites sellers in the "you know what." Such silly thinking...

Mar 11, 2018 07:31 AM #8
Ambassador
3,550,975
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

You're right, Jill, that IS a commonly-heard statement, and I have heard it from listing agents, too! We all know what happens when a home is priced well for the market...but some sellers don't seem to understand this concept.

Jeff

Mar 11, 2018 08:35 AM #9
Rainmaker
583,461
MaryKay Shumway
The Kellstrom Ray Agency, Inc. (Est. 1948) - Sister Bay, WI
Door County Wisconsin's Real Estate Expert

If I had a dollar for every time I heard this....I have three clients I'd like to send this to RIGHT NOW.  Great post.

Mar 11, 2018 10:37 AM #10
Ambassador
2,017,420
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Oh, yes I have heard that line.  Accompanied by, "but Zillow says..."

Mar 11, 2018 12:15 PM #11
Rainmaker
968,196
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

. . . I think I may have said it!  No, No, Just Kidding.

Surely next time someone says that to me, I will remember to tell them "Have no fear - if your house is that well-priced you will certainly know it."

The line I heard today is that my suggested price was a "fire sale."  It's not - not even close!

 

Mar 11, 2018 03:24 PM #12
Rainmaker
1,956,021
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Oh those "dollar for every time I heard that" comments. We all have them! 

Great post!

Mar 11, 2018 04:38 PM #13
Rainmaker
816,482
Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Boca Raton FL - (561) 716-7824 - CRS, ABR, GRI

You're right Jill Sackler .  Houses that are priced right will sell.  Overpriced homes languish on the market.  What's the sense?  Your post should open the eyes of some sellers who think they are sitting on gold.

Mar 11, 2018 06:00 PM #14
Rainmaker
703,278
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Kathy Streib Thanks so much for the feature. I'm always humbled when that happens.

Dorie Dillard Given a choice, that's always the best one!

Debb Janes EcoBroker and Bernie Stea JD It's the curse of the quick offer that makes them question the process.

Mar 12, 2018 07:23 AM #15
Rainmaker
703,278
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Jeff Dowler From a different perspective, I've often felt that a lengthy sale has its merits for the homeowner who may be suffering from separation anxiety. A longer transaction may let them process the move mentally.

MaryKay Shumway I figured we had all heard that line before and we could relate.

 

Mar 12, 2018 07:31 AM #16
Rainmaker
703,278
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Fred Griffin Interesting twist that I haven't heard but I will be listening from now on...

Margaret Goss Okay, that's also a good one. Lol

Sharon Tara I didn't expect so many people to chime in, "Oh, I hear that all the time." Ubiquitous, isn't it?

Elyse Berman, PA I love this: "Your post should open the eyes of some sellers who think they are sitting on gold." Probably not but one can dream?

 

Mar 12, 2018 07:37 AM #17
Rainmaker
1,158,482
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Homes that are priced correctly will sell! That's so true!

Mar 12, 2018 10:51 AM #18
Rainmaker
1,365,807
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Jill Sackler, well priced homes that show well sell fast, overpriced listings will either sit on the market and become stale or see a few price reductions. Great post!

Mar 12, 2018 04:27 PM #19
Rainmaker
217,702
Susan McCall, Everyone needs a home
Compass Realty Solutions, Portland, OR & Vancouver, WA - Portland, OR
Quickly, professionally and with a little fun!

In the Portland Oregon market if a home in the "under luxury" category it will be under contract within a week, if that long.  We don't give our homes away anymore.

Mar 12, 2018 10:55 PM #20
Rainmaker
703,278
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Kat Palmiotti Thanks for taking the time to read my post.

Beth Atalay Thanks. I guess it's a process that gradually becomes clear to the homeowner.

Susan McCall, Everyone needs a home That sounds wonderful!

Mar 13, 2018 05:36 PM #21
Rainmaker
1,538,927
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

you gotta love the little people they truly think everything is or should be free. 

Mar 17, 2018 10:16 PM #22
Rainmaker
3,481,654
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jill, great post, and when homeowners do not want to take our professional advice, their home will sit on the market much longer than expected! 

Mar 25, 2018 07:41 AM #23
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Jill Sackler

LI South Shore Real Estate - Broker Associate
Long Island Living - Where Memories Are Made
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