"How Can We
Help You?"
The Real Estate Client
Right Pricing & True ValueShould Get Vs. Can Get
"Deals That Work Every Time"
James Patton, CRS
Consider the unaided person who wants to sell an Oahu home or property.
He or she starts with the intent of being objective. Then, the world intervenes. There is the interplay of economics, financial obligations, and personal expectations. Hearsay enters in. There is the tendency to use misleading but readily available data (e.g. what you heard the neighbor got or an anecdotal news article) or hard to interpret data, such as "median price." The market is assumed to be fair, forgiving, and unchanging, and at some point an educated hope or "guess" emerges as a comfortable price to try. Then, the real estate agent is called.
Successful real estate agents discipline themselves to counsel based on fact. More often than not, especially in the present buyer’s market, the evidence of the agent is at odds with the hope of the seller. Some sellers, trusting the agent, accept the first assessment and move forward. Others, needing more information or more rapport, continue interviewing agents -- sometimes picking one or a string of them for the wrong reason. Most align with the market and move forward. Others decide not to sell, and a few become "For Sale By Owners" and go it alone. A couple themes are common to these outcomes: those operating on market data and professional advice in nearly every instance do much better; those operating on wishful thinking and guesswork nearly always get frustration -- and unachieved goals.
Right pricing is essential to a good sale. A seller pricing wrongly in the beginning -- for reasons of greed or error -- may have to preclude the possibility of catching up later and meeting his or her selling goals (by missing pent-up demand). A price is right not because it accords with an opinion, no matter whose opinion it is. A price is right because it is likely to obtain the best sales price possible in the seller’s time frame according to demand, condition, location, and terms. Helping you determine this price, as a seller, is one of my functions as your real estate agent at Coco Isle Realty. A good agent advises you according to actual data and what would and could work -- according to your goals -- not according to your sensibilities or what you want to hear, even if it means not getting the listing. Beware the agent taking your listing at any price! Beware the agent suggesting a list price less than the last comparable sales price! Experience and commonality of goals in your agent is absolutely vital.
In Honolulu today, the true value of a fully promoted property is the best price an able buyer will pay for it now. "Now" means today -- not last year or next year or even yesterday or tomorrow. Each property has a maximum realistic value. We don't necessarily know what it is, but we do know it fluctuates in time and circumstance. Getting true value is not automatic or always possible, but you can get close with an excellent agent. Right pricing is a seller’s critical first step to getting it. If you are like most of the world's millions of successful sellers, you are going to have a good agent on your side. Acknowledge this and choose wisely. By good, we mean experienced, ethical, and intuitive about right pricing. Down play factors as personality and firm and up play factors as knowledge and responsiveness. Play it right, and get what the market will bear.
James Patton, CRSToll Free (800) 997 - 8701
Call Today To Get The Process Started
©2003 Coco Isle Realty
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