While sorting through some books I plan to donate to charity I came upon Donald Trump's Think Like a Billionaire. I gave it one final thumb through, and paused at the the chapter titled How to Sell a House. Written in 2004 it contains some sage advice whether you're a fan of The Donald or not. Here is the first paragraph:
If you are selling your home and there is no or little activity, or activity but no offers, you should revisit the price. The real estate market is volatile, and prices change daily. I always keep in mind the saying "Old listings, like old soldiers, never die--they just fade away" when it comes to pricing. Also, don't worry about competition; count on it--you will save yourself a lot of time. Competition may even help you by drawing in prospective buyers within the same market."
In paragraph three Mr. Trump goes on to state: If you have a broker, make sure he or she understands what the value of the property is to you. But don't be too bullheaded if your broker thinks the property is worth far less than you do. The broker should be the expert, and you're paying him or her not only for service but for advice.
This is t
imeless advice from someone who understands the art of selling and acquiring real estate. I dusted off the cover, and since Trump is now building multimillion dollar homes in Palos Verdes, I may enlist his help the next time I need a price reduction--the book is now in my conference room.
The photo is of Trump National Golf Course in Rancho Palos Verdes.
36 megamillion dollar estates surrounding the golf course are under construction.
I have the price sheet if you're interested in living in one of the most beautiful locations in Southern California.
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
South Bay Los Angeles cities I sell real estate and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.
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Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333
PalosVerdesLifestyle- Norma's award winning site as the best Palos Verdes homes and real estate blog since 2007. Selected by Relocation.com as one of the top ten Los Angeles area real estate blogs. Chosen by MovingCost.com as one of the best Los Angeles realty blogs. Awarded 5 out of 5 stars by Lender411 blog review. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.
South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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Hi Norma. Nice reading. Great points on pricing. I have had pretty fair success explaining this to sellers.
Rock on,
Ken
So true, if it's priced wrong especially in this market, the home will just sit and sit! Thanks for sharing.
Great advice and reminder to all in the real estate industry and all sellers (who especially seem to forget).