Had a great week, closing on a difficult listing and a bad week because some sellers are getting mad that their listings aren’t flying off the shelf.
In San Francisco, we have had a super busy last couple of months with listings getting multiple offers and selling in 4 days.
But now the market is catching up with itself, the listing inventory has increased and the buyers are getting a little crazy about Covid not going away and increasing in a lot of areas.
So while some of our listings are getting a lot of action, many are not.
And you know the only the works with listings that aren’t selling?
Time and price.
In some markets and with some listings, it is just going to take time to find the right buyer.
And price is important as well (Captain Obvious here).
So we need to always be having the price reduction conversation with our sellers.
And the easiest way to do it?
Start having that conversation right from the very beginning.
When I take listings, one thing I always say is, “And if the house doesn’t sell or we don’t get any offers in 3 weeks, we should talk about making a price adjustment.”
When you have this conversation from the very beginning, it’s easier to bring it up later.
Listen, price reduction talks are never fun.
But they are a lot easier if you start from the beginning of your relationship with the seller.