How not to price your home - just say no to chasing the market dddooooowwwnnn......

Profile picture for JayMac26

88 Summit Terrace, Cliffside Park NJ

Purchased: 3/28/2005
Purchase Price: $840,000

MLS# 2633176
Listed: 8/22/2006
List Price: $998,000
Reduced to: $975,000
Reduced to: $939,000
Reduced to: $919,000
Withdrawn

Relisted MLS# 2701367
Listed: 1/10/2007
List Price: $905,000
Reduced to: $899,900
Reduced to: $899,800
Reduced to: $899,000
Reduced to: $884,000
Reduced to: $879,000
Reduced to: $874,000
Reduced to: $869,000
Withdrawn

Relisted MLS# 2719972
Listed: 5/16/2007
List Price: $869,000
INCREASED TO: $899,000 (Huh?)
Withdrawn

Relisted MLS# 2817408
Listed: 4/28/2008
List Price: $869,000
Reduced to: $799,000
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January 07 2009 - Cliffside Park

Replies (3)

Profile picture for sunnyview
Boy, somebody looks like they might be getting bad advice on the amounts and frequency of those prices changes. I guess it is also possible that the client won't listen to the agent's suggestions on price. How does that old song go..."catch a falling knife and put in in your pocket never let it fade away..."
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January 07 2009
Profile picture for CHAVEZ GROUP
YEAHHHHHHHH !!!!!  totally ! on  every listing appointment I go on I show a graph of a declining market and what will happen if you over price your home in a declining market. The way you show it would convince a seller as well. Nothing beats real facts and stats. Being a real estate agent is no longer a sales job, it's all about being a consultant. 
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January 07 2009
Profile picture for aapostrophe
poor alps.
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January 08 2009
 
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DiscussionHow not to price your home - just say no to chasing the market dddooooowwwnnn......
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