LA Connection Property Blog: Make any house brighter and street-noise disappear too

Make any house brighter and street-noise disappear too

A few years ago I was showing a condo to a buyer (an older gentleman) who seemed to like the place. He asked how much it was listed for and I replied $315,000.

The buyer scratched his head and mumbled that for $350,000 he wasn't interested ... besides, the place was too dark.

I realized he hadn't heard me correctly and repeated that the price was only $315,000 and not $350,000. Suddenly his attitude changed, and he took another careful look. He bought the condo. Apparently at the lower price the condo looked a lot lighter and brighter.

Similarly when I showed a $740,00 house to a prospective buyer, he wasn't interested because he could hear freeway noice in the background. When I finally reduced the price to $675,000, the freeway noise disappeared and the house became quiet and peaceful. He bought the house.

My point is that it's all about price ... which can overcome all objections.

Copyright © 2008 Penn Properties.  All Rights Reserved.

Comment balloon 10 commentsCOMPASS PALM SPRINGS | Stewart Penn • August 21 2008 07:58PM

Comments

That's funny - really the only reason a property won't sell is the price.  If you lower it enough, it willl sell.

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) over 12 years ago

Georgina - Earlier this year I went though a dilema of having a great listing that just didn't sell. Everyone who viewed the property admired it and had favorable comments .... but it was only when I lowered the price did I receive offers.

Posted by COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate (COMPASS) over 12 years ago

Price is priority! My motto!!!!

Posted by Christopher Webster, Columbia South Carolina Real Estate For Sale (Carrington Real Esate Services) about 12 years ago

Stewart...amazing how money will cure so many imperfections! This is a hoot. Thanks for the giggle.

LOL, Later in the rain~Deb

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) about 12 years ago

Stewart,

It's amazing how that works!  Almost like the old K-mart blue-light specials!  Items such as clock radios would be in a bargain bin at a special price.  You observe them and think about possibly whether you need to buy one or not and after some thought you pass it by.  As soon as that blue light goes off...all mayhem breaks loose and you somehow feel compelled to buy one for every friend and family member you can think of! 

Posted by Michelle Pimentel, ASP, IAHSP Empire Home Staging (Empire Home Staging Solutions) about 12 years ago

I agree it is all about the price.. i have seen similar situations.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 12 years ago

I think people are willing to pay a premium for some things but if they do not percieve those things to be present in whatever item they are considering they will not buy it. If they see it as a bargain on the other hand, they are willing to purchase it even with what were "flaws" at a higher price. You are absolutely correct - Price rules.

 

Posted by Deb Hurt, ABR, e-Pro,Green, TRC (Realty Pro Albuquerque) about 12 years ago

I love that.  Amazing how thinking changes with price. People are still funny

Posted by Pat Laracy Baker, Pat Baker Dream Home Maker (Realty Executives Boston West) almost 10 years ago

It's not location, location, location - it's definitely PRICE, PRICE, PRICE!  :)  I agree.

Posted by Joy Daniels (Joy Daniels Real Estate Group, Ltd.) over 9 years ago

I agree with joy . . .price always figures into the final decision.  Congrats and thanks for sharing.

Posted by Michele Myers, Harrisburg/Hershey Realtor (Prudential Homesale Services Group) over 9 years ago

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