Our listing at 950 S Muirfield is a Red Hot Property on Redfin and we have over 20 showings scheduled in 15 minutes increments all day long on Sunday starting at 9:30 am. The house is super cute and charming and full of character and it’s so fun and exciting to see what will be top top dollar for the house and who will make the best buyer of all!
Sellers always wonder about the best pricing strategy. There are three choices. Aspirational pricing describes sellers who say they only need one buyer and if they price their house really high, they know there will be one buyer who will love it and pay the price. Aspirational pricing usually makes houses sell in a very long time and often only after price reductions. We don’t follow this strategy very often. Fair market value pricing is where just about all our listings are priced because they get lots of showings and interest and it feels safe to sellers to price their property right about where it’s worth. Event pricing is choosing a price that will attract so many bidders that the buyer who wants the house the most will go highest in price and since it’s their choice to pay the price they choose to pay for the house, they’re super comfortable and excited and it’s win-win all around. Event pricing takes trust that the market will drive the price higher and also skill to navigate the process for the seller to negotiate with all the buyers to achieve the best result. I think part of the reason why event pricing works is because if a buyer knows that so many people are interested in the house and so many people are writing offers on it, they’re not alone in their assessment that the house is amazing and when it comes time to sell, they know they can have the same experience. It’s confirmation of the value of the home and also of the buyer’s choice of the home to buy. That confirmation brings the buyer confidence, which drives the price higher for the seller.
I went on a listing appointment this week and as I walked up to the front door and I looked at the address, it hit me that this was the house I was born in and I was raised there until I was three years old. What a coincidence and what an interesting experience it will be to work with that home. It’s hard to remember back from a time when I was too young to understand, but interesting to posture and to imagine my life in those walls so many years ago.
Thought of the week is awe and marvel at one of our sellers. He bought a condo and then he decided he really prefers a single family home and not a condo. He found a single family home that he loves and he’s buying that instead and selling his condo. I love hearing from Nechama of this client’s laser focus on the bigger picture of his happiness and procuring for himself a space that makes his soul sing. He’s wonderful to work with because he’s upbeat, positive, smart, and so driven to hit the ultimate goal of his overall happiness. It isn’t very surprising that he’s so young and yet he’s completely self made and so successful.
I think the mindset of this client is the best strategy to get us through Corona. We’re all best served with his attitude of focusing on the bigger picture of our overall happiness and making choices accordingly. Sometimes, it’s hard to let go and to give up on some of those immediate details or some of our past choices and their seeming consequences on paper or in our minds. Taking a step back and looking at the broader bigger picture objectively is smarter because then we can be free to live, and we free up brain space that really makes us more productive and creates a better life. I wish all of us the vision to figure out our bigger picture and to have clarity about what truly makes our souls sing…and then to formulate an action plan to get there.
It’s such an honor to work with the incredible people that my team and I are lucky to call our clients!
Have an awesome weekend!