Price Right, Sell Sooner - It’s All about Staying Ahead of the Game

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By Paige Tepping

RISMEDIA, June 21, 2008-Many agents find themselves with a unique dilemma: to list or not to list, depending on a client’s pricing expectations. With the wealth of information available to consumers, perfectly priced homes will be the ones to sell and it’s the agent’s responsibility to stay ahead of the game when it comes to setting a seller’s expectations and the subsequent saleability of their home. “Within this changing market, you can’t have a property that is perfectly priced for today. A home has to be perfectly priced for where the prices will be next week,” says Jon Coile, president & CEO of Champion Realty, “In order to stay ahead of the curve, you have to price aggressively.” Here, learn other best practices from a one-on-one interview with Coile.

Jon Coile
President & CEO
Champion Realty
Severna Park, Maryland

Region served: Chesapeake Bay region of Maryland; the area south and east of Baltimore and Washington, D.C.
Years in real estate: 20
Number of offices: 18
Number of agents: 500+
Average sales price: $340,000
Average time on market: 100 days
Best tip for making meetings productive: Start on time and make sure everybody has a voice, and that everyone’s opinion is given the same respect and consideration.
Key to staying profitable: Watch your expenses and make sure they are in line with the results they are delivering. Instead of cutting your way to profitability, focus on revenue generation and excel your way to success.
Best tip for getting the right listing price: Within this changing market, you can’t have a property that is perfectly priced for today. A home has to be perfectly priced for where the prices will be next week. In order to stay ahead of the curve, you have to price aggressively.

What strategies do you find most effective for training?

We are finding that there is a gap in the training that revolves around sales dialogue, basic sales skills and scripting, so we are focusing on training our agents in these areas.

How do you motivate agents?

Motivating agents is no longer a one-size-fits-all technique. With the changes in the market and the fact that each agent has been affected differently, motivating agents has become a one-on-one situation.

How do you communicate with your customers?

This is a unique period of time in that we have four generational groups in the market, and each group needs to be communicated with in a different way. The challenge is to make sure that agents are capable of all these forms of communication and that they are communicating with their customers in the way they wish to receive their information.

What is your company’s best competitive advantage over other real estate companies in your area?

We are a big fish in small pond, which is a great place to be. Our company is known within the six counties that we serve. We know the market and the conditions and being a smaller company allows us to be more nimble than the colossal companies that surround us.

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

For more real estate best practices, see:

• Why Your Prospects Should Choose the Ads You Run
  How to Bridge the Gap between Chasing Leads and Closing Sales
• Does Your Website Yield Results? How to Generate ROI Easier

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