Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive)

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Rainmaker
5,539,463
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that's absurd..... no it's not, it's stupidity...

Oct 15, 2016 03:18 AM
Rainmaker
1,120,222
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

san diego

Oct 15, 2016 03:33 PM
Ambassador
5,035,934
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Somebody likes to play games.

Does not say much about their pricing strategy if there is that much room to play with the price.

Oct 15, 2016 02:55 PM
Rainmaker
1,119,832
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

In that case I will make an offer subject to $1K reduction daily until the final price is $1K.

No not recommended....  

Oct 15, 2016 04:20 AM
Ambassador
2,216,158
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

This tactic screams of desperation.

Oct 15, 2016 04:08 AM
Ambassador
4,309,924
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Carla Muss-Jacobs, Principal Broker (503) 810-7192 - nice answer in picture from Thomas J. Nelson, Realtor,CRS.

Oct 15, 2016 04:26 PM
Ambassador
3,503,844
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

 I seen this tactic before and it never turns out to be a good deal for the seller ....

Oct 15, 2016 03:56 PM
Rainmaker
3,985,753
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I jsut had a seller want to try it.  Told him it would not work and it didn't, but it did make him trust me more.

Oct 15, 2016 01:57 PM
Rainmaker
1,992,400
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I've seen it work !

Oct 15, 2016 09:51 AM
Rainmaker
1,702,077
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I don't think this is a good strategy- homes are not flying off the market where I am - the median days on market is 90. So that would mean, $90K off the list price, which would be about a 1/3 reduction in price based on our average sales price.

Bad idea.

Oct 15, 2016 09:19 AM
Ambassador
1,706,936
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not my way of thinking and too gimmickly. If I do price reduction allowances it is every two weeks and I get the seller to sign an agreeement before listing.

Oct 15, 2016 06:05 AM
Ambassador
2,523,326
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Not my style.  Sounds desperate.

Oct 15, 2016 04:37 AM
Rainmaker
1,072,329
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I guess it's better than advertising a price reduction from $499,999 to $499,995. What ever floats your boat.

Oct 15, 2016 04:04 AM
Rainmaker
5,176,403
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Carla,

I think Barbara Todaro expressed it well.  A

Oct 15, 2016 03:40 AM
Rainmaker
1,662,253
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

So much for playing things close to the vest. I say it's not a good plan, just do it & shut up or the buyer will just wait until ?? 

There's an agent in my area that has been reducing his listing $500 every 7-10 days or so to keep in in the price change category.

Oct 15, 2016 03:28 AM
Rainmaker
508,208
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

good for a Buyer, poor for the Seller

Oct 20, 2016 02:19 AM
Rainmaker
1,337,413
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I think everyone will wait a few hundred days, I know I would! 

Oct 16, 2016 02:24 PM
Rainer
222,865
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

To me, there is no insentive for me to put in an offer today, if I can save $1000 tomorrow. If I like the house, I'll check every day and wait for someone to make and offer, then I'll put in an offer. While, I may pay a little more, I most certainly come out ahead by saving $1000 per day

Oct 16, 2016 09:16 AM
Rainmaker
2,948,905
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Holy Crap ... that screams fire sale to me.  Not a strategy I would use. 

Oct 16, 2016 03:09 AM
Rainmaker
1,381,851
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

The gambler in me is curious how this would play out, but I wouldn't want to do something so desperate with one of my listings.

Oct 16, 2016 02:16 AM
Rainmaker
6,166,994
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I would not use this strategy. I do not care what others do.

Oct 16, 2016 01:56 AM
Rainmaker
2,590,854
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Mixed message to...... wait & buy?

Oct 15, 2016 11:44 PM
Rainmaker
1,430,777
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Carla Muss-Jacobs, Principal Broker (503) 810-7192 This is a poor pricing strategy. When everyone holds out for a bottomed out price only the seller loses.

Oct 15, 2016 11:23 PM
Rainmaker
3,830,605
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I remember seeing something like this in the past and thought it was an interesting(and poor) pricing strategy.  

Oct 15, 2016 11:09 PM
Rainmaker
3,854,179
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The gambler buyer may win, but the seller could be a big loser! Not great marketing strategy!

Oct 15, 2016 11:03 PM
Rainmaker
4,433,283
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Not a good strategy.

Oct 15, 2016 09:33 PM
Rainmaker
3,725,433
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sounds weird to me and I can see a lot of buyers who would sit on their hands waiting for the price to drop each day.

Oct 15, 2016 07:12 PM
Rainmaker
2,433,224
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

It screams for a low ball offer!

Oct 15, 2016 02:18 PM
Rainmaker
2,706,962
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Interesting, but not one that I would employ...

Oct 15, 2016 01:49 PM
Rainmaker
1,524,868
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

It screams desperation to me.

Oct 15, 2016 01:38 PM
Rainmaker
1,922,207
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I am with you but some sellers want to go at it slowly

Oct 15, 2016 01:06 PM
Rainmaker
612,192
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & OC Laguna Nigel

I think it is aggravation to everyone that has a saved search as it shows up everyday.  It's not really fair but it is legal provided the seller has a signed modification of terms stating this is their wish.

Oct 15, 2016 12:15 PM
Rainmaker
1,604,808
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I guess it could work if you have enough margin to work with... and a deadline for offers.

Oct 15, 2016 10:41 AM
Rainmaker
793,637
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Have not seen it; don't like it.

Oct 15, 2016 06:56 AM
Rainmaker
595,402
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

I watched a particular bank property for a client that was not ready to make an offer at the listed price.

The bank reduced the price $10,000 the first of each month.  Month 5, the buyer was thinking seriously of making an offer, except someone else bought it.  Then my buyer bought a house on the same street...not quite as nice, but had to pay more.

I don't know what to think about this pricing strategy...except it seems like a lot of work for the agent.

Eve 

Oct 15, 2016 06:35 AM
Rainmaker
813,213
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No, because it will just delay offers. i would just pick a price that the selelr can live with and drop it that. it will take them 10,000 days to do a $10,000.00 price reduction.

Oct 15, 2016 05:09 AM
Ambassador
3,986,094
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have seen this before and to me it seems more like an auction. I suppose it works but I woudl never suggest it to a seller.

Oct 15, 2016 05:09 AM
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If it sells for a good price, than it worked.  If it doesn't than it's not such a good idea.

Oct 15, 2016 04:23 AM
Rainmaker
3,214,779
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Carla Muss-Jacobs, Principal Broker (503) 810-7192  I don't think, it is a good idea.

Oct 15, 2016 03:56 AM
Rainmaker
504,088
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

sounds to me like it's ALOT of work for you!  If the seller is serious about selling, make a significant price reduction so that the buyers will fight over the property.

Oct 15, 2016 03:52 AM
Rainer
509,270
S. Leanne Paynter ☼ Broward County, FL
United Realty Group, Inc. - Davie, FL
Davie, Plantation, Cooper City & Weston Specialist

I'd say it's a poor pricing strategy, especially if they're actually advertising it that way.  I have seen a few listings that get a price reduction of $1K about once every 1-3 weeks.  I've also seen a rental listing that was reduced by $1 (yes, one dollar) every day until it got rented.  The only benefit I could see to that is that it automatically alerts agents who've programmed the MLS to send them an email for that neighborhood or price range (which it'll do whenever there is a price change or status change)... so you'd receive an email that includes that listing every day until it gets rented.  Annoying but it essentially means it's email blasted every day.  More free marketing.

Nov 14, 2016 10:35 AM
Rainmaker
864,177
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Someone is doing a diservice to themselves and their clients.

Oct 19, 2016 08:05 AM
Rainmaker
3,662,006
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I have seen this happen  in down years but not now.

 

Oct 18, 2016 02:31 AM
Rainmaker
790,066
Susan Laxson CRS
Palm Properties - La Quinta, CA
Local Knowledge & Global Network

I have never seen that, but would think it would be a risky pricing strategy.

Oct 16, 2016 01:02 AM
Rainer
234,675
Macy Babb ... North Georgia Realtor
Re/Max Around Atlanta Realtor - 404-234-6166 - Cartersville, GA
Realtor, SFR, HUD/REO Certified

I've seen this work... It is a tatic used simply to get the home to show up in those automated emails that clients get set up on thru the MLS each day

Oct 16, 2016 12:26 AM
Rainmaker
3,069,179
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Barbara Todaro nailed this one!

Oct 15, 2016 11:59 PM
Rainmaker
899,502
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Not into gimmicks myself - but lowering the price will certainly sell ANY property once the price point is reached

Oct 15, 2016 11:57 PM
Rainer
97,766
Carol Wilson
Your $imple Home - Toronto, ON

That strategy is so disrespectful to the seller that I am suspicious there is something really wrong with the house, because it obviously can't tolerate the calm, collected, full-light-of-day scrutiny that other houses can.

I don't see that it works in the best interest of the seller: it invites low-balled offers that are equally disrespectful.  As a seller, if my listing agent ever proposed that to me, I'd ditch him or her immediately.

Any agent who has serious thoughts about that listing strategy could really use a good stager.

Oct 15, 2016 03:58 AM
Rainmaker
1,157,329
FN LN
Toronto, ON

There are many pricing strategies.  For reasons known to the seller and listing agent, they must think that it is a good one in their specific situation to meet their goals and objectives.

Oct 15, 2016 03:53 AM