|
SUCCESS STORY 1
I am sure you get your share of success stories but I want to add one. Cindy Gilson attended your latest session here in Boca Raton. She had a listing on a 4 bedroom home that started at $369,000 and then was reduced to $344,000. The sellers had purchased another home and were anxious so she educated them and they repositioned to $299,000! On Sunday, Cindy held an open house and had 20 people through. (It was advertised in our normal ads and she was getting calls to see if it was a misprint) One couple came in and didn’t act too interested but they came back later (with their checkbook) and said they “wanted to make and offer”. The deal came together very close to full price, they are using CB Mortgage and Sunbelt Title and the Seller are thrilled as is Cindy. She is a Believer and is spreading the gospel! Thanks again.
Bill Holmes
Managing Broker
Coldwell Banker Residential Real Estate
Stuart, Fl
SUCCESS STORY 2
Last night Deb and I had our first “Repositioning” meeting with one of our listings. It was on the market for 18 days at $399,900 with no showings. Prior to the POWER Pricing, Positioning & Presentation Training last week, we would have entered the meeting hoping to convince the Sellers to reduce their price by $20, 000. Fortunately, we came to the meeting armed with the new training and resources. The education we provided the Sellers was very well received and critical to repositioning the home. They bought into the concept of their home being a commodity and not a product immediately. The Sellers understood the buyer pool remaining relatively constant and were intrigued with what made up an Appreciating Market and Depreciating Market. After reviewing the “When to Buy/When to Sell cycle graph and showing them the current supply of homes (13.1 months of inventory), they were ready to hear about repositioning. Obviously, by now, they knew $399,990 was not the right number for their home, and advertising/marketing was not the issue. They were convinced, we were in a Depreciating Market and that prices would continue to decline for quite awhile.
When we shared our Drama Price/Energy Price of $344,900, a repositioning of -$55,000, I thought we would have to do CPR on them. However, as they asked questions, we referred back to Product vs. Commodity, Buyer Pool and Appreciating vs. Depreciating Markets. It all made sense to them. We left the meeting that night without a commitment, only a promise they would study the data and get back to us.
The following morning we received an email from the Sellers. It began by saying: “Last night we reviewed all of the info you provided and we agree on the target price of $344, 900. We also looked at it another way, if we actually sold at 345,000 we are still looking at about a 24% profit or about 8% per year – not bad for a 3 year real estate investment. It’s far from what we had hoped for, but we’re realistic and we understand the numbers we’re up against.”
Thank you for encouraging us to attend this training. Without it, the outcome of repositioning this Seller would have been a disaster. We would have left with a “Chicken” reduction of $20, 000, an unhappy Seller thinking we were not doing enough to get their price, and an expectation of our doing a list of more “Stuff” to market the home.
C. Fred and Deb Mateer
Coldwell Banker Residential Real Estate
Longwood, FL
SUCCESS STORY 3
I sincerely thank you for clarifying for us the necessary verbiage to communicate to our Sellers in today's market. I received a call to list a property that has been for sale for 11 months with a competitor. The Seller called and asked if I could help them. I asked that they meet me at my office and they agreed. Just prior to coming in to my office, they called me to tell me their previous Broker called and said to give him another chance and he would take the listing for 5%. They asked if I could beat that and I answered absolutely.
I met with them and followed your script. I had downloaded your market report with my information and photos. I explained the difference between product vs. commodity and how we were in a descending market and the need to get out now. They followed and listened intently.
The property has been on the market after price reductions for 11 months at a list price of $489,000 with no offers. They asked me to list for 6% and accept 5% if I sold it myself. I listed the property for 449,944 and my professional service fee is 7% with no concessions if I sold it myself. Thank you for teaching me how to improve my business skills.
Gary A Feix
Coldwell Banker Residential Real Estate
Coral Gables, Fl
SUCCESS STORY 4
I have now addressed all of my listings/sellers with our newfound approach. Some have been more inclined to listen than others. My latest success is a property that my sellers and I together agreed upon a well positioned listing price. It went on the market yesterday, we had 5 showings, and today we have 2 offers. One for full price, no contingencies and a good clean contract. Haven't seen that in a while.
While others wile away waiting for a higher price as their home devalues, savvy owners who grasp the concept know it is better to sell now, than lose a lot more later. From 22,000 homes on the market we are now up to 24,000......and from 12 months of inventory last November we are currently up to 16 months, the time to sell is NOW!
Of all my continuing education classes (GRI, CRS, seminars from top producers, etc.) this is the most powerful and workable program ever!!
Karen Johnson, GRI, CRS, ABR
Coldwell Banker Residential Real Estate
Oviedo, FL
SUCCESS STORY 5
After I first attended your seminar last year we started using the concepts
and talking about your system. It seemed to be working. A group of us attended the seminar a second time last week. Sitting through the presentation for a second time helped me realize we were missing some of the key power points to the program. We decided to do a presentation using the PowerPoint and bring the sellers into the office.
We chose one of our most difficult sellers who were in town for one week only. Since the listing was 25 miles from the office, the listing agent was sure they wouldn't come in. They agreed almost without question! The first words out of Mrs.. Seller’s mouth was "we're not lowering the price". Because of questions, and discussion the presentation took over 2 hours. THEY AGREED WITH EVERY SLIDE IN THE PRESENTATION!
In the end, we offered them the opportunity to think about the material and discuss it to make a decision the next day. They said that was not necessary and immediately dropped the price from $439,000 to $384,900. I think we've hit the mark on a drama price, but I guess the market will tell us if we did or not. The most amazing part of the experience was the CONTROL we felt during the presentation. Every objection was easily handled by pointing out how it was inconsistent with a slide they agreed with earlier.
Thanks for sharing your methods!
Mike Demcho
Managing Broker
Coldwell Banker Residential Real Estate
Boca Downtown, FL
SUCCESS STORY 6
I went to the home of former customers who had purchased their home from me 10 years ago and kept it up very well. They said to me “Andi, what do we need to do to sell our home? We see the market sliding and we don’t want to hang around until it gets worse and show our home forever and not be able to plan what we need to do!”
I showed them the market data which included the very few closed sales and the current listings most of which had been on the market for many months or over a year. After reviewing the homes sitting on the market, we brought the home to market at $685,000, on a Friday. On Saturday, it was shown by a Coldwell Banker agent working with a corporate transferee who had looked at 80 homes. They wrote an offer for $690,000 giving the Seller all the terms they wanted and of course the $5,000 over list so they would not lose the home to another buyer. There were additional showings that afternoon, and I let them know it.
The contract was signed that evening and everyone was happy. The sellers knew that in a declining market that chasing it down would have made them less money. By POWER Pricing the home we created the drama, drew attention to the property so the buyers could perceive the value, get excited and “pull the trigger”.
Andrea Wites
Coldwell Banker Residential Real Estate
Florida
|
