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THE PRICE IS RIGHT
January 7, 2006
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The client in the instant case is a real estate professional. Angel met him with through another client of his who was actually listing her property with him. (The client will be referred to in this study as “John”.) John was listing a property for a couple who made a very special request. They said they would not list the property until John discussed the price with an individual who they indicated he should contact right away. When John met the man called Angel later that day, in his mind he kept saying to himself, “what does this man know about pricing a home?” Angel further confused John by overpricing the property by $20,000. When John questioned Angel, Angel winked at John and said, “We can always bring it down.” John was concerned that the property would not get shown, and if it did get an offer that it would not appraise. He was also concerned with the expectations that the Sellers now had. He left a little disappointed on what he thought would be a good listing to now an overpriced one. The property hadn’t been on the market for 48 hours and there were already four appointments scheduled to show the property. After showing the property to all the people that had asked for an appointment, John was standing outside ready to leave when a lady arrived in a car and asked him if the property was for sale. Of course, John immediately offered to show it to her. After viewing the property, her only question was if I could see her that evening because she wanted to write a contract. When John asked how much she wanted to offer she stated, she would offer full price and would buy cash. She closed on the property a short time later. Within 48 hours, John had Angel at his own house and has been a satisfied client ever since.
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