Home Buying in Nashville>Question Details

Kristen Rich…, Real Estate Pro in 37064

When viewing a listing, what is your gut response when a price for the home is not included?

Asked by Kristen Richardson, 37064 Sat Jan 26, 2013

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13
All great answers and perspectives. Thank you ALL for taking the time to answer. I love Debbie Roses' analogy to today's consumer information access versus what a REALTOR shares in their marketing - "It's a little late to lock the barn, the cow already left!"

Yes, consumers have all of the information at their fingertips if they want it, so why not share it up front? I happen to agree. Will some potential consumers pass on your listing thinking it isn't right for them? sure... but that happens anyway, no matter what we do.

To draw in a buyer, the pictures must be professional, staging is a MUST, and it needs to be posted in as many forums as possible. Descriptions of unique characteristics, catchy title, help too.

As a business professional turned REALTOR, I already had 18 years of exposure to marketing theories and customer service from a different perspective and I was one of those consumers who when looking at listing brochures or marketing materials, if all of the information wasn't listed, I just moved on (unless the property looked REALLY intriguing). So of course, my perspective is share price!
1 vote Thank Flag Link Thu Jan 31, 2013
Great question! I worked for many years in the corporate world specifically i the area of marketing. It was a lot of stress so I thought I would become a real estate agent to lower my stress level (that was funny, you are supposed to laugh). This is a tactic that is used in marketing to cause the consumer to call in order to find out the price of the product. The idea is to draw them in with enough information to wet their appetite. People are generally inquisitive and those who are inquisitive can be aggressive or even impulsive buyers. Thanks for the question, it got the old juices flowing.

Chuck Campbell
1 vote Thank Flag Link Thu Jan 31, 2013
As Debbie Rose pointed out, some marketing materials may be expensive or time-consuming to produce, and so the agent may prefer not to include the price. A laminated brochure or narrated video tour are two examples.
1 vote Thank Flag Link Sun Jan 27, 2013
Yes, I am glad you clarified, as that's what I asked back at the beginning of the forum.

It's Interesting how times have changed.

When I began in the business in the mid 80's, internet listings were not here yet, the internet was not here yet - at least for the masses (nor was google!!) so the main avenue to get your listings out there - advertised - was the now pretty much obsolete print ad.

Part of my listing presentation was discussing how often the home would be in the newspapers, and which ones would be used.

We always gave the price......what we didn't give was the ADDRESS!
That was considered sacred back then, and the buyer had to call in to get that information. We also felt we were protecting the seller's privacy, as the public didn;t have access to the MLS then either.

And.........the point was - show a photo in the ad, give a great description AND the price.....but drive the consumers to CALL in for the address. An important skill back then was learning how to "convert" an incoming phone call to an actual showing - an appointment.

Today, needless to say, with the internet, nothing is "sacred" anymore (and that doesn't just mean in real estate - all businesses have been impacted).
So.......today everthing is shared and offered to the consumer - all details of the home - heck, they can even view the neighborhood from a satellite via google. Virtual tours walk them through the house - they can even read reviews of homes......and the list goes on.

So, if an agent decides for whatever reason not to provide the price, all someone has to do is google an address, and voila - all the information is available.
between sites like Trulia (I won't list them all ) and Realtor.com - even the MLS - all information on a home is out there online.

In regard to showing the price - I listed below the only place, reason and why I don't show the list price - on my brochures - but I can't imagine why anyone would purposely play a game and omit a list price.

Are that many of you out there still (routinely and extensively) doing print ads?

For anyone who uses omitting any information as a ploy to attract buyer contacts/calls/email, It seems to me it's a little late the lock the barn - the cow left a long time ago!

:)
1 vote Thank Flag Link Sun Jan 27, 2013
The seller or agent may be trying to get you to call and ask for the price.
1 vote Thank Flag Link Sat Jan 26, 2013
When viewing it where?



I do not put the price on my brochures*, but by the time a buyer is handed one, they, and their agent, already know the listed price.

I don't put the price on the brochures because they are professionally done, expensive and are laminated, so crossing out a price, if there is a reduction, just doesn't look nice, and is difficult to do due to the laminate covering..
1 vote Thank Flag Link Sat Jan 26, 2013
(unless the property looked REALLY intriguing).
Isn't that how you attract a SERIOUS buyer?
I get calls FREQUENTLY from promotions that have NO PRICE!
Some have no price and no address!
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"Annette, you must be crazy! Why do you do it?" you might ask.
Because the serious buyer already has the information they need.
They already know the prices in the community!
They spend their evenings snooping, doing drive bys, trolling, Googling, tax record digging...you know..all that stuff.
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And they do feel informed, empowered and prepared.
Do you think a missing price or address will deter a buyer with purpose?
Is not a buyer with purpose the exact same buyer who is not going to waste your time?
The buyer of purpose has already determined they want the community.
They ask, what can we work out or what else is available.
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If you have the bandwidth and patience to nurture buyers who are indecisive and months and months away from any decisions, then you should impose NO self-selection criteria.
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If you want to talk with those home buyers who have their sleeves rolled up and in the trenches to find "THE' home, you will discover placing a passive 'serious buyer only' gate in place will create the best use of a busy agents resources.
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Let me put this in another context. How often have you been successful using 'pull back' to get the other side to commit? Real estate professionals have been so accustomed to 'giving stuff away that we experience FEAR at the prospect of doing exactly what we know we must do. STOP giving stuff away without something in return. If you are in a business and want to control you costs, focus on the real buyer and seller and stop spending time, money and resources on vapors.
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Because what they saw 'looked really intriguing!"
Isn't that what is so incredible about real estate? We are all right, if we take a minute to comprehend the purpose established by the business owner and had the privilege to take a peek at the results we would truly understand there are many roads to success.
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Kristen question reminds me of a training session. The trainee stated the income they needed to make. "If I get you to the $36,000 a month level will you quit your day job?" The response, "I have to see what my GUT tell me." Say What???? I like to operate based on RESULTS!

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Thu Jan 31, 2013
Knee jerk....move on! There's probably a reason why the price isn't disclosed.....

Bill
0 votes Thank Flag Link Thu Jan 31, 2013
I guess I should have clarified the question a little more - I wasn't addressing MLS since the MLS must have price. I was addressing ads to buyers, flyers, voice recordings from signs,etc. (other marketing outlets for listings) all of which often don't have price. I was wondering what buyers think and what the other agent philosophy's are. I happen to follow the philosophy of giving the buyer the price information up front.
0 votes Thank Flag Link Sun Jan 27, 2013
As a consumer myself, if the price isn't listed I move on. I prefer to give out that information up front, no need in wasting people's time.
Flag Sun Jan 27, 2013
Just my opinion, but when an agent doesn't state a price, it's intentional. Intentional in hopes that the potential buyer will call them directly. Stating the price is necessary and the right thing to do. As a buyer, why would I want to waste my time on something I may not be able to afford, so I need to know the price.
0 votes Thank Flag Link Sat Jan 26, 2013
Sometimes the realtor magazines don't post the price, so the buyer will call and ask? I haven't seen listings on the MLS without a price, can't leave it blank.
0 votes Thank Flag Link Sat Jan 26, 2013
Hello Kristen,

If I come across a listing that does not disclose the price. I first ASSUME the price was omitted in error. I call the listing agent to ask about the price.

Kawain Payne, Realtor
0 votes Thank Flag Link Sat Jan 26, 2013
I guess I have never seen a listing without a price before. It would be like buying a car without seeing it or a picture of it.
0 votes Thank Flag Link Sat Jan 26, 2013
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