Sept 24 Danville Team Meeting

Today’s meeting started out with Starbucks coffee and pastries courtesy of Jerry Pujals who stuck around to talk ATTITUDE & MOTIVATION!!!!!

Part of today’s team talk was around “pricing it right” and the cost of a new listing. Working with an audience of over 30, we came to a consensus that the cost of your average new listing within the first 30 days was around $3000 to $5000.

The big question was – Why would anyone take an over-overpriced listing that will not sell in this current market when they have to spend this kind of money just to get the listing and cover the initial marketing expenses?

Kristin White, team leader for the Keller Williams Danville Market Center was so excited to have Erik back (he’s been of flying for Virgin America) that she insisted that we all dance! See the Video

New Keller Williams Associate

Well, it’s official – Roy Dronkers, previously with Alain Pinel, is the newest member of the Keller Williams family in Pleasanton, CA. Roy is the president of the Valley Marketing Association which serves Pleasanton, Dublin and Sunol, CA.

Keller Williams TriValley is ecstatic to have have Roy join the team. I asked Roy why he chose to move to KW at this point in his career. His answer was, “It’s where I belong.”

Here’s a pic I snapped of Roy and Jim Walberg at this mornings meeting.

Overpriced Home Inventory Plagues Area Home Sales

At the team meeting today in the Danville office of Keller Williams Realty, the topic of discussion was the high inventory of homes on the market that aren’t moving. Not only are they not moving, but many are seeing few to no visitors to open houses.

Everyone agreed that the number one reason is price. The estimate is that 80% of the homes on the market in the 680 corridor are overpriced. Price reductions of $10K to $60K are happening, but many of these will have little affect because the buyers are chasing the market down.

This means that the new price is probably what the property should have been listed at three months ago. Adjusting the price in this manner keeps the homeowner behind the trend usually resulting in lowering the price further to get the property sold.

When coupled with the incurred expenses of maintaining the property while it is being marketed, this results in a negative net effect of what the homeowner could have realized on the sale if the property had been priced according to what the market would bear when first listed.

Agents weighed in saying that there are many buyers out there, they just aren’t interested in spending their time looking at overpriced properties and spending time and energy in negotiations when there is so much inventory to choose from.