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One Whopper of a Valuation Subjugation

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Posted 09-29-2015 at 04:01 PM by Roy Sanborn

One Whopper of a Valuation Subjugation

The Lakes Region Real Estate Market Report - August 2015 Sales

As real estate agents we get bombarded with emails about new properties coming on the market, open houses, and price reductions. And I do mean bombarded. We also get emails from people and companies offering all kinds of services to improve our businesses, get new clients, and sell more houses. Add to that all the inter-company emails about policies and procedures, educational opportunities, and other earth shattering gossip and info. Most of us are, therefore, on information overload. But, I suspect it is that way no matter what kind of business you are in. As a result of this barrage of information spewing onto our digital portals to the real estate world we tend to ignore some of these all important messages if they just don’t sound important enough to open.

They say the subject line is the key to getting someone to open your email. According to trusted sources on the internet (ha!) you have to keep the subject line short and focused, pique interest, offer value, and create urgency. I think being a little creative and humorous helps as well.

Take for instance the “price reduction” emails we get. These have gotta be the right up there at the top of the heap as I usually see a couple per day. They usually come with a subject line like; “Price Reduction, 34 Redwood Street MLS #443301 $325,000.” That’s not very exciting, unless you live at 34 Redwood Street. It also didn’t say how much it was reduced. If it read; “Giant Price Reduction of $50,000, 34 Redwood Street MLS #443301,” that might get someone’s attention. Would a $5,000 price reduction work? Probably not. In order to get someone to look at a price reduction email you gotta go big. Create some noise.

In order to get other agents to open their emails on price reductions some have tried the term “price adjustment,” “price improvement,” and “newly priced” seemingly to avoid the word “reduced” which was the purpose of the email to start with. Not sure those are working, either.
Now we could play with the words “price” and “reduction” a little and see if we can come up with some new subject lines to disguise what is going on while creating some urgency, pique some interest, and offer value all at the same time. How about; “Hurry, significant $10,000 capitulation on the whole nut” or “Act now, $10,000 valuation reconsideration!” or “Urgent! Ownership Position Premium Drastically Minimized.” Probably not.

Wal-Mart uses the term “Roll Back Pricing,” should we? How about; “Fantastic $10,000 Discount Double Check at 12 Rodgers Road?” Maybe; “You deserve a break today at 53 McDonald Ave! $10,000 off and you get fries with that.” Or; “One Whopper of a Valuation Subjugation.” You can get carried away here.

I suppose agents could take to begging a little with subject lines like; “Please God, help me sell this house with this $15,000 price reduction” or “I can’t take this much longer. Price reduced $7,500. Please send buyer, now.” How about; “Last $10k price reduction before I get fired. Please help!” I think these actually might work.

Sales of residential homes in the twelve Lakes Region communities covered by this report were very strong in August with 130 transactions at an average price of $364,503 and a median sale price point of $226,050. That kind of mirrors the 133 sales last August at an average of $ 320,824. For the year thus far there have been 697 residential sales in these communities at an average price of $336,721 compared to 629 sales at an average price of $315,818. That’s almost a 5% increase in the selling price and a 10.8% increase in total sales. Nice…

Data compiled using the NNEREN MLS system
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