Realistic Pricing - 89 Offers Pour in on Temple City Home

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RISMEDIA, June 10, 2008-At a time when most news in the real estate sections of newspapers is of the floundering real estate market, it is great to tell an uplifting real estate story. Let’s put aside the gloom and doom.

Toni Motte, a sales partner with Dilbeck Realtors GMAC, listed a home in Temple City, CA, recently. Now, this was not a million dollar mansion and it wasn’t a fixer-upper, it was in fact a lovely little 3 bedroom, 2 bath traditional home on a quiet street in Temple City.

Motte took the listing and put it into the MLS (Multiple Listing Service) that same week; then she pitched it at a local Board of Realtors caravan meeting. Immediately, the phone started ringing-everyone wanted to see this little home-and then almost as immediate-the offers started rolling in.

Realizing that when the phone didn’t stop ringing, she had a special property, Motte suggested to her client that a deadline be set that all offers had to be in by. The date arrived and Motte sat with 89 offers on her desk. It brought back memories of the “good old days”-when just a few years ago, agent’s had to shuffle through many multiple offers.

All the envelopes were opened and sorted. According to Motte, most of the offers were over the asking price and only a mere 15% were below. The highest offer was $110,000 over the listing price and this was the offer that the seller took. Of course Motte had a couple of great back-up offers, just in case.

In the end, it isn’t about a good market or a bad market-it is in fact about pricing homes correctly. Being realistic, and really truly understanding what is going on out there in your neighborhood.

Now the question, can agents like Motte sell every listing in 2-weeks time bringing countless offers to choose from-most likely not. But, diligent agents are pricing homes to sell and will give you the best possible service and advice out there.

For more information, e-mail toni.motte@dilbeck.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

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