JULIE GARDNER
  • HOME
  • COMPASS
    • WHY COMPASS?
    • COMPASS CONCIERGE
    • COMPASS BRIDGE LOANS
  • LISTINGS
  • ABOUT
    • ABOUT JULIE
    • A DYNAMIC PARTNERSHIP
    • CONTACT
    • PROCESS
    • TESTIMONIALS
    • PRESS
  • PROJECTS
    • BEFORE & AFTER
    • GARDENS
    • OUR TEAM
    • VIDEOS
  • BLOG
  • COMMUNITY
    • UTILITIES
    • SCHOOLS

A Fetching Tale

1/21/2022

0 Comments

 
Cliff and I are heading back to the mountains this weekend to check on the cabin. When we were there a few weeks ago, it took my husband an hour and a half to dig down to the water main while I carved a path to the doorway. This weekend, we will undoubtedly be addressing other concerns. Turns out that owning a cabin (even a small one) is not for the faint of heart . . . or lean of pocket. ​
"Please take my dog with you to Tahoe," Jill suggested, "Luna loves it there." (Indeed she does, as does our dog, Riley.)

No wonder; the house is not far from the waterfalls, the lake is serenely beautiful this time of year, there isn't a soul in sight beyond our little pod, and both dogs can joyfully run off-leash to their heart's content.

Riley is a flat-coated retriever, so even though the temperature tends to be bone-chilling this time of year, snow-fed water isn't going to stop him from gleefully charging into the lake to fetch a stick. Luna, on the other hand (a Woodle - Wheaten/Poodle), prefers to meet Riley at the water's edge in order to wrestle away his prized possession. No matter how often this scene is played out, it's endlessly amusing to see the tug-of-war between these two playmates.

Mind you, I'm happy to throw Luna her own stick, but that's not the game. The game is taking away Riley's . . . that's what makes it interesting and fun. As soon as Riley drops the stick, Luna could care less.

Here's the Real Estate tie-in . . . the game of "fetch" is much the same when it comes to the sale of real property. With all due respect to the concept that "It only takes one Buyer to sell a house," in our experience, the exact opposite is true. Or put another way: you CAN sell your home with only one Buyer, but not for the premium you feel it deserves.

Here's how it really plays out: As soon as one qualified party displays more than a casual interest in a property, it makes that opportunity significantly more attractive and enticing to other potential Buyers as well. Offer these same Buyers an UNCONTESTED choice, and they'll nervously back away wondering why no one else wants it.

Even where there's real interest, Buyers may circle, but they won't necessarily bite - not until someone else jumps off the fence first. (It's akin to a socially awkward 7th-grade cotillion; it takes a couple of brave souls to actually get the dancing started.) Turns out that when it comes to a major life purchase, most Buyers need others to validate their choice before making a BIG move.

This is why pricing is so important, as Sarah and I were reminded recently when we represented a stunning home that was universally loved but surprisingly void of offers. Having priced the house to meet the Sellers' expectations, we failed to procure any bids come the offer date, which admittedly makes for some anxious moments both for the Sellers and for their Agents. In short, correctly pricing a home from the get-go is the single most important component of a successful marketing campaign. Miss the mark, and there's likely to be a lot of fancy footwork to follow. . . .

However, once our team reset the stage and reset the price, a qualified Buyer jumped in almost immediately, and then another followed suit with a stronger offer, not to mention better terms. (Don't forget that terms are equally important for a smooth transaction.) The new homeowners are thrilled, the Sellers are pleased, and Sarah, Jill, and I are happy to have produced a winning result, despite the tepid start. In fact, by lowering the price, the final result nearly met the original goal. (All's well that ends well.)

While we understand that Buyers are frequently frustrated by a market wherein the list price often bears little resemblance to the final sales price, AND why Sellers often think we are 'devaluing" their house by setting the price lower than they would ultimately accept, it's precisely because of the example above that "strategic pricing" makes all the difference in the world - no matter how beautiful a house is . . . .

Given the herd mentality of the human species, Buyers seem to need some healthy competition before they are willing to engage. BTW. - Sellers aren't required to accept a full-price offer or ANY offer, unless it meets their expectations, so fear not. No one is going to force you to sell your house for less than the going rate.

Consequently, when we make the potential list price more palatable by offering a home for a sum that seems attainable, many more Buyers appear, and with more Buyers comes more leverage, AND that, my friends, is how savvy Agents work the room to drive prices UP!

While it might seem disingenuous to price a property well below its final sales price, please remember that Sarah and I are NOT setting the value of your home. We are creating a pricing strategy designed to bring you the highest and best result. In other words, it's actually in YOUR best interest to price a property for less. (Paradoxical, but true.)

Hey, if that weren't the case, pricing a home would be a whole lot easier, and we could sell it on eBay without any negotiations whatsoever. (Uhh, that's not our recommendation.)

How's that for a "fetching" tale?

How can we help you?
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Subscribe

    Author

    Julie Gardner, has been writing The Perspective for 18 years and has published more than 775 humorous but always informative, essays on life and real estate. 

    Picture

    Archives

    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    July 2010
    June 2010
    May 2010
    April 2010
    March 2010
    February 2010
    January 2010
    December 2009
    November 2009
    October 2009
    September 2009
    August 2009
    July 2009
    June 2009
    May 2009
    April 2009
    March 2009
    February 2009
    January 2009
    December 2008
    November 2008
    October 2008
    September 2008
    August 2008
    July 2008
    June 2008
    May 2008
    April 2008
    March 2008

    Categories

    All
    Business
    Design
    Drought
    Holiday
    Home Maintenance
    Homes For Sale
    Life
    Market
    Politics
    Renovation

    RSS Feed

    View my profile on LinkedIn
Piedmont · Oakland · Berkeley
 510.326.0840
[email protected]
DRE# 01431765
​COMPASS

  • HOME
  • COMPASS
    • WHY COMPASS?
    • COMPASS CONCIERGE
    • COMPASS BRIDGE LOANS
  • LISTINGS
  • ABOUT
    • ABOUT JULIE
    • A DYNAMIC PARTNERSHIP
    • CONTACT
    • PROCESS
    • TESTIMONIALS
    • PRESS
  • PROJECTS
    • BEFORE & AFTER
    • GARDENS
    • OUR TEAM
    • VIDEOS
  • BLOG
  • COMMUNITY
    • UTILITIES
    • SCHOOLS