Listen To Your Broker

by Darrin DeRoches November 18 - 24, 2010

I may sound like a broken record, but you need to listen to your broker!  HGTV is a great station to watch, but just because some famous designer says to paint it all beige or use a colorful bedsheet as a tablecloth does not mean it works in your area.  Hardwood and granite never go out of style.  Professional workmanship shows through. Decluttering is worth its weight in gold. Price it right!     I had a great listing this week.  A three plus one bedroom bungalow on the mountain with an updated kitchen and bathrooms.  On the way to the listing I was considering on pricing it around $219,000.  When I pulled up and saw the newer roof and windows plus some nice landscaping, things were looking up. Mountain homes in Hamilton are all very similar.  It seems as if three to four different styles were built after WWII. Some have had additions and renovations over the years, but they all boil down to the same layout and price.  Once I viewed the inside and saw the granite counters, Ikea kitchen, hardwood floors, vessel sinks and updated colors, I knew the word “SOLD” was coming soon.     We did all the pictures, created the virtual tour and then had to sit down for the big discussion: price! They wanted to price it at $235,000.  I walked in believing it would be around $219,000, but once I saw the inside I was more than confident it would sell at $229,000  After a good discussion, we decided to price it at $229,000 – not $229,999 or $229,888, just $229,000.  People think the number doesn’t mater, but it really does.  At $235,000 we would have missed a large market who can only buy up to $230,000.  Sure it is only five grand more, but a limit is a limit. If we priced it at $229,999 it is just saying to the market this house is $230,000. the $229,888 is a lucky number thing trying to say it’s not $230,000, and round numbers tend to say we are open and flexible.  Our price of $229,000 said we are at $229,000, the house is worth $229,000, and we are going to negotiate for $229,000!     This may all sound a little wishy–washy or touchy–feely, but agents do respond to price, pictures and comments. You are marketing your home and how you price it, present it and what you say about it sets the tone! Houses on the mountain sell in about 40 days on average and usually for close to their asking price.  This being said, some sit longer since they are trying for top dollar even though they do not deliver top dollar quality.  We had eight viewings in the first two days – in the slow month of November – and had an offer for full price which we then negotiated to over the asking price, all in just two days.  It was a pleasure working with a client who took the time to declutter, clean and listened to their broker. Some properties may require staging, some need cleaning. Who knows? Your broker should!  V                [DARRIN DEROCHES]