Tuesday, July 6, 2010

Great deal relies on price, sale time

National Post



Anyone who has ever sold a home knows two things dominate: Getting the best price and a getting a speedy sale.


Setting that price can be a combination of art and science. It means a deep understanding of the market as it stands today -- not last week or last month. It means a profound sensitivity to what buyers want and can afford. And it means having the ability to create the perfect strategy for each home.

That is where Robert Greenberg and his team at Harvey Kalles Real Estate Ltd. shine. With 27 years of experience under his belt, Mr. Greenberg is a master at setting the perfect listing price in any market, no matter what the challenges are.

To understand just how deep their expertise runs, just look at the results they have achieved for the men and women who have entrusted them with their most highly prized possession -- the family home.

Clients today regularly get between 95% and 98% of the asking price, and his team's turnaround time ranges from three days to three weeks.

"Pricing is absolutely crucial," he says. "The tendency of many sellers is to overvalue their homes. They are out of touch with today's market realities.

"At the same time, the last thing you want to do in this market is under-price your home, because there are not as many multiple offer situations as in the fourth quarter of 2007. My selling clients deserve to get every dollar their home is worth."

He offers some recent examples as to the power of perfect pricing.

A custom builder created two beautiful new homes. On the advice of another agent he listed each home at $1.2-million when Mr. Greenberg suggested under $1.1-million. They failed to sell, so he reduced the price to $1.139-million. No interest at that price either.

Then he made a smart move; he called in Mr. Greenberg.

"My first piece of advice was to list only one house at a time," he says.

"I didn't want them competing with each other. Then I told him that in today's market, the price would have to be $1,049,000."

The owner listed the first home at $1,049,000 in June. By early July, it had sold for $1,030,000. Mr. Greenberg listed the second home at the same price once the first found a buyer. It sold within days at $1,049,500, with multiple offers and $500 over asking.

"There was another home ... worth mentioning. It too shows the power of setting the right listing price," he says.

In this case, the home had been represented by another agent who had set a $1,849,000 asking price. Three months later, with no success, the owner called Mr. Greenberg and his advice was that it was over-valued and to re-price the property at $1,749,000.

She agreed but one day later, she raised the price up to $1,799,000. It sold in one day for $1,728,000.

"Understanding the market and setting the perfect listing price is absolutely crucial these days," he says.

"It is probably the single most important factor for anyone who wants a speedy sale at the best possible price."

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