{"id":95,"date":"2006-07-17T08:03:21","date_gmt":"2006-07-17T15:03:21","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=95"},"modified":"2006-07-17T08:10:57","modified_gmt":"2006-07-17T15:10:57","slug":"its-not-a-buyers-market-its-a-procrastinators-market","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/95\/its-not-a-buyers-market-its-a-procrastinators-market\/","title":{"rendered":"“It’s not a buyer’s market, it’s a procrastinator’s market.”"},"content":{"rendered":"

Our friend Richard Riccelli<\/a> sends this along from the Boston Globe<\/a>:<\/p>\n

Home sellers are learning what any retailer, from Wal-Mart to the owner of the corner gas station, already knows: Low prices are one of the surest ways to beat the competition.<\/p>\n

Coldwell Banker Residential Brokerage, Massachusetts’ largest real estate firm with more than 3,500 agents, is coaching agents on how to persuade clients to list their homes at an asking price that undercuts those of comparable ones on the market.<\/p>\n

The hope is low prices will attract more prospective buyers, leading to faster sales. Other real estate agents in the Boston area report success with similar strategies in a housing market with an unprecedented glut of properties for sale.<\/p>\n

Called “drama pricing” or “energy pricing,” it is a drastic measure for difficult times. And it seems to run counter to the conventional strategy of selling your home for the highest price possible.<\/p>\n

Buyers are “overloaded” with options and “only respond when they see a perception of value,” said Angela Stamoulos, who teaches Coldwell Banker’s course on this pricing technique, which the firm rolled out this spring in Connecticut and last month in Massachusetts.<\/p>\n

By grabbing buyers’ attention, she said, “the true market value of the property comes to fruition.”<\/p><\/blockquote>\n

Newspapers dumb everything down. The topic is not fire-sale discounting but using price to establish market differentiation.<\/p>\n

Working with competitive listings, you try to identify a price point at which your home will stand out from the herd. This requires a certain amount of fortitude: You have to be willing to acknowledge where your home stacks up against its competition.<\/p>\n

If your home has appropriate upgrades, it might be worth a little more. If it has pet odors, it’s worth a lot less. If you have six nearly-identical competitors, you may have to choose a price lower than you wanted, even if your home is objectively the pick of the litter. In that circumstance, pricing above the true dogs but below the homes that are almost as good can make your house sell while the others languish. Buyers will see your home as the best overall value.<\/p>\n

We’re not trying Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Our friend Richard Riccelli sends this along from the Boston Globe: Home sellers are learning what any retailer, from Wal-Mart to the owner of the corner gas station, already knows: Low prices are one of the surest ways to beat the competition. Coldwell Banker Residential Brokerage, Massachusetts’ largest real estate firm with more than 3,500 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-95","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5017,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5017\/point-counter-point\/","url_meta":{"origin":95,"position":0},"title":"Point \/ Counter-Point","author":"Sean Purcell","date":"October 16, 2008","format":false,"excerpt":"Michael Cook wrote a thought provoking post earlier entitled What Happens to the Early Worm.\u00a0 So thought provoking that I found my comments drifting to post length.\u00a0 So how about a little point\/counter-point? Michael, a very detailed and thoughtful post. I would not disagree with you that cautiousness is a\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17336,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17336\/the-ibuyers-are-super-good-at-mulcting-buyers-agents-with-science-thats-why-they-cant-price\/","url_meta":{"origin":95,"position":1},"title":"The #iBuyers are super good at mulcting buyer\u2019s agents with science. That\u2019s why they\u00a0can\u2019t\u00a0price.","author":"Greg Swann","date":"October 20, 2020","format":false,"excerpt":"Mike DelPrete is worth reading, so long as you understand that, like The Inglorious Knob, he is one with The Borg. Just lately I mentioned that the iBuyers in Phoenix are nicking buyer's agents for commission \u2013 which is just the kind of dick move you expect from financially-inept sociopaths.\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/aidan-bartos-v9rZ3Yz6fSg-unsplash-1-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15116,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15116\/boston-globe-story-on-social-media-and-real-estate\/","url_meta":{"origin":95,"position":2},"title":"Boston Globe story on Social Media and Real Estate","author":"John Rowles","date":"September 19, 2011","format":false,"excerpt":"With Jeff's post below still fresh in my mind, I read a story in the \u00a0Boston Globe Real Estate section over the weekend\u00a0that attempted to sort of let buyers and sellers know that brokers and agents are adapting to social media: Although it\u2019s hard for Bourgeois to quantify just how\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2011\/09\/how_agent_was_found.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":871,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/871\/hey-buddy-wanna-buy-a-zip-code\/","url_meta":{"origin":95,"position":3},"title":"Hey, buddy . . . Wanna buy a Zip Code . . . ?","author":"Greg Swann","date":"January 8, 2007","format":false,"excerpt":"Eppraisal.com and Zillow.com today both announced Zip Code based advertising programs to allow agents to display ads to people searching in their particular farm areas. Under the Eppraisal.com plan, agents will sponsor particular Zip Codes for a fee of $20 a month.If you are a real estate professional, you can\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":978,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/978\/a-different-perspective-on-the-value-of-realtors\/","url_meta":{"origin":95,"position":4},"title":"A Different Perspective on the Value of Realtors","author":"Cooksquared","date":"February 1, 2007","format":false,"excerpt":"Has anyone ever wondered why the price of real estate agents has been 5-7% for what seems like an eternity? I know I run a serious risk of stepping on a lot of people's toes out there since this is a site run by realtors, but I really have been\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17107,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17107\/the-news-is-not-that-zillow-is-going-to-have-agents-its-going-to-have-newbies-for-agents\/","url_meta":{"origin":95,"position":5},"title":"The news is not that Zillow is going to have agents. It\u2019s going to have newbies for\u00a0agents.","author":"Greg Swann","date":"September 23, 2020","format":false,"excerpt":"Housing Wire: A Zillow spokesperson told HousingWire that these people are already employed with Zillow, and will be getting real estate licenses. Zillow said it will not be recruiting for these positions. It's a boiler-room job \u2013 in the same article, George Laughton says Zillow still won't be getting its\u2026","rel":"","context":"In "iBuyers"","block_context":{"text":"iBuyers","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ibuyers\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/09\/austin-distel-97HfVpyNR1M-unsplash-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/95","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=95"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/95\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=95"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=95"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=95"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}