No Broke Months For Salespeople - What Do You Need to Know When Pricing Properties

Starting point is 00:00:00 If we price it right, we should sell at the market. If we're at 30 days on the market and we don't have any offers, it definitely means that we're overpriced. Okay, so I'm giving you like everything to do out front is all geared towards something in the future. Welcome to the No Broke Months for Real Estate Agents podcast.

Starting point is 00:00:23 Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating if you aren't making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step system so that every month is No Broke Months. My name is Dan Roshan. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me. Enjoy the show. What do you need to know when pricing properties? Real estate coach Dan Roshan

Starting point is 00:01:03 from No Broke Months for Real Estate Agents talks about what factors should be considered when determining the pricing of properties. Dan guides agents in accurately pricing properties by staying informed about the local market, considering factors like comparable sales, and prioritizing transparent communication with clients for successful transactions. Learn the importance of market knowledge in the latest No Broke Months for Real Estate Agents episode. All right, so this is the information that I'm getting when I am pricing a home.

Starting point is 00:01:37 When we get to pricing of the home, you're going to be able to help them interpret the data of this the same way as we do with the buyers. Okay, I'll go ahead and I'll help you interpret this data real quick. So Mr. Seller, the good news is right now is the market's come out to relatively an equilibrium. And so what I mean by that is you can see the inventory over here year over year. So from October, 2022 to October, 23, you can see that the active listings is relatively the same and the new listings over the last 30 days is relatively the same. So what that means is over the last 30 days,

Starting point is 00:02:13 there's been 21 sellers placed their property on the market compared to 18 in that same 30-day period. And there's 26 that remain on the market compared to 28 a year ago. The good news is, is if we price our property right, we should get what we're asking for. 100.1% is the average sole price to list price. And we should only be on the market for 12 days. So Veronica, when you're going through with your guy, this is the guy right here. And you're consulting him. And he's not paying attention to the market. And I understand he's a challenge. But this is what you're hopefully communicating with him up front so that they know. And listen to what I said there. If we price it right, we should sell at the market. And you can see here, average average sp that's average sold price to olp original list price

Starting point is 00:03:07 is 100.1 selling in 12 days so that means if we either if we're at 30 days on the market and we don't have any offers it definitely means that we're overpriced okay because you have the data right there to refer back to later. So you have the data to refer back to later when, if you are overpriced and you're not selling, you can say, well, you remember that the average is 12 days. We've been on the market now for 30 days. The average sold price to list price is 100.1%. And we've gotten no offers so far. And you go through some other data and then you say, well, what do you want to do? And that's the way you do a price adjustment, by the way. Okay. So I'm giving you like everything to do up front is all geared

Starting point is 00:03:56 towards something in the future. It's just like everything else that we do. Okay. And so if you need to get that price adjustment, then you're going to be able to refer back to this right here thanks so much for listening to the no broke months podcast today until the next show i invite for you to be grateful make good choices help someone have the best day of your life and go find a listing

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No Broke Months For Salespeople - What Do You Need to Know When Pricing Properties

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