Comments on: Down Sales Market? Think Outside the Box http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Aaron Remerhttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-96722 Aaron Remer Mon, 22 Aug 2011 03:54:03 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-96722 Great article very informative thanks keep it up. Great article very informative thanks keep it up.

]]> By: Carmenhttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-95809 Carmen Thu, 14 Jul 2011 23:06:21 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-95809 Like it or not, price is the biggest factor in whether your property will sell in today's market. Like it or not, price is the biggest factor in whether your property will sell in today’s market.

]]> By: David Ballantynehttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-95186 David Ballantyne Wed, 15 Jun 2011 12:55:23 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-95186 Thanks for your post. You raised an interesting point. It seems obvious when you say it, but buyers in different socio-economic income bands will have different perceptions on whether they can take the risk of buying a property.I have done a fair bit of reading on selling your house in a bad market, and the advice is almost always to sell your house yourself at below market value. That is despite the fact that realtors are property selling experts, and that offering them worthwhile incentives to make your property a priority is simply a sensible response to current market conditions.Once again, thanks for your educational post.David. Thanks for your post. You raised an interesting point. It seems obvious when you say it, but buyers in different socio-economic income bands will have different perceptions on whether they can take the risk of buying a property.

I have done a fair bit of reading on selling your house in a bad market, and the advice is almost always to sell your house yourself at below market value. That is despite the fact that realtors are property selling experts, and that offering them worthwhile incentives to make your property a priority is simply a sensible response to current market conditions.

Once again, thanks for your educational post.

David.

]]> By: Conniehttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-66797 Connie Sat, 11 Jul 2009 12:29:06 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-66797 Well I have a contract with my Realtor to sell for sell by owner and listed with her. I have a $2,000 bonus for the agent who brings a buyer and I have $2,000 bonus for whom ever brings me a buyer to the for sale by owner, I am on craigslist.com in Knoxville,Tn which is just approx 1 hour and 15 minutes from my home and a Local net work. Lots to do and see here awesome place have, love and a beautiful wood home in cedar with 4.41 acres. Tenn is a good state to sell but b/c of the market it was very slow but now picking up like you would not believe so I am just keeping my faith b/c I have to move further North and we just love it here but must so we have no choice but to keep it listed. Its listed for $224,900 fsbo and worth every bit in a quite area your own little paradise so if interested call 1 931 863 8174 for pictures, questions and a showing. located in Grimsley, TN between Crossville and Jamestown, TN Well I have a contract with my Realtor to sell for sell by owner and listed with her. I have a $2,000 bonus for the agent who brings a buyer and I have $2,000 bonus for whom ever brings me a buyer to the for sale by owner, I am on craigslist.com in Knoxville,Tn which is just approx 1 hour and 15 minutes from my home and a Local net work. Lots to do and see here awesome place have, love and a beautiful wood home in cedar with 4.41 acres. Tenn is a good state to sell but b/c of the market it was very slow but now picking up like you would not believe so I am just keeping my faith b/c I have to move further North and we just love it here but must so we have no choice but to keep it listed. Its listed for $224,900 fsbo and worth every bit
in a quite area your own little paradise so if interested call
1 931 863 8174 for pictures, questions and a showing. located in Grimsley, TN between Crossville and Jamestown, TN

]]> By: Anonymoushttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-62018 Anonymous Wed, 03 Dec 2008 14:43:58 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-62018 my question is How about the days when you could buy a house with no money down. my question is How about the days when you could buy a house with no money down.

]]> By: Susanhttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-59899 Susan Tue, 09 Sep 2008 02:20:12 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-59899 Hi, well I am skimming thru these commments. I am a realtor, and I don't just care about commissions. I care about my clients and getting them the best deal...fair. It sounds like the neighbor that listed their house was look at the market trends and that why the listed lower. The longer your home is on the market, the more compromised you are. The first question is "how long has this home been on the market" and .." when was the last price reduction"? I hope this is taken in the way it is meant...to be helpful. Best, Sue Hi, well I am skimming thru these commments. I am a realtor, and I don’t just care about commissions. I care about my clients and getting them the best deal…fair. It sounds like the neighbor that listed their house was look at the market trends and that why the listed lower. The longer your home is on the market, the more compromised you are. The first question is “how long has this home been on the market” and ..” when was the last price reduction”? I hope this is taken in the way it is meant…to be helpful. Best, Sue

]]> By: low cost mortgage leadshttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-57626 low cost mortgage leads Sat, 21 Jun 2008 04:56:33 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-57626 well, yes it can be lowered with a private outside note or keeping a 10% outside share of ownership well, yes it can be lowered with a private outside note or keeping a 10% outside share of ownership

]]> By: Nadinehttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-54664 Nadine Mon, 18 Feb 2008 05:45:52 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-54664 Nice post...Most people use to think that price is the main issue of selling...But today I know another case which prooved that it is not. Nice post…Most people use to think that price is the main issue of selling…But today I know another case which prooved that it is not.

]]> By: Colorado Home Guyhttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-52926 Colorado Home Guy Thu, 13 Dec 2007 06:05:37 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-52926 I think your dead on Jim....We as REALTOR'S cant decide on a house for a client, but when we see that big extra bonus commission siting in front of our face we are sure likely to help our client pick that house.Interesting ideas and post...thanks for sharing! I think your dead on Jim….We as REALTOR’S cant decide on a house for a client, but when we see that big extra bonus commission siting in front of our face we are sure likely to help our client pick that house.

Interesting ideas and post…thanks for sharing!

]]> By: Lisahttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-52147 Lisa Fri, 16 Nov 2007 06:00:17 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-52147 As a realtor, I love your thinking! In the past few years when the market was hot realtors have been making lower and lower incomes. (Some think it should be the opposite). In general there has been so much competition and less work had to be done so commissions tanked. Now that people are finally realizing how much work we actually do they are starting to want to pay us. I have seen an upturn in commissions in WA and OR. Personally bonuses don't drive me because I want to do right by my client regardless of incentives. But I have used bonuses to sell my own property and it did work. Just remember you don't need a lot of showings, just the right one. As a realtor, I love your thinking! In the past few years when the market was hot realtors have been making lower and lower incomes. (Some think it should be the opposite). In general there has been so much competition and less work had to be done so commissions tanked. Now that people are finally realizing how much work we actually do they are starting to want to pay us. I have seen an upturn in commissions in WA and OR. Personally bonuses don’t drive me because I want to do right by my client regardless of incentives. But I have used bonuses to sell my own property and it did work. Just remember you don’t need a lot of showings, just the right one.

]]> By: Some Tips for Getting Attention to Your Real Estate Listings | Real Estate Investing for Real Bloghttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-51991 Some Tips for Getting Attention to Your Real Estate Listings | Real Estate Investing for Real Blog Fri, 02 Nov 2007 15:40:54 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-51991 [...] was a comment posted by Linda Parker as a response to our contributor, Jim Watkins’ post, Down Sales Market? Think Outside the Box. As the comment carries weight on its own, we’ve decided to publish it as its own [...] [...] was a comment posted by Linda Parker as a response to our contributor, Jim Watkins’ post, Down Sales Market? Think Outside the Box. As the comment carries weight on its own, we’ve decided to publish it as its own [...]

]]> By: Joanne Hansonhttp://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-51788 Joanne Hanson Sat, 20 Oct 2007 02:05:45 +0000 http://www.biggerpockets.com/renewsblog/2007/09/27/down-sales-market-think-outside-the-box/#comment-51788 Getting Realtors familiar with the property one way or another is a good idea, but offering a higher commission won't do it. If I were the Realtor witha potential Buyer. I would offer the difference to the Buyer, who would then offer a lower price and forgo the bonus. So it comes back to price again. In a down market, pricing according to comps won't work unless you price below those comps. Otherwise you are always trying to catch up with the market as it goes down. That only works in a stable market. Cut your losses and cut your price, otherwise you will still own that house six months from now, and what is is costing you a month? Getting Realtors familiar with the property one way or another is a good idea, but offering a higher commission won’t do it. If I were the Realtor witha potential Buyer. I would offer the difference to the Buyer, who would then offer a lower price and forgo the bonus. So it comes back to price again. In a down market, pricing according to comps won’t work unless you price below those comps. Otherwise you are always trying to catch up with the market as it goes down. That only works in a stable market. Cut your losses and cut your price, otherwise you will still own that house six months from now, and what is is costing you a month?

]]>