Vancouver Condo Real Estate Video Blog #564 - June 11, 2010
A Listing Price Is Just An Asking Price But Nobody Is Low-balling
Ian Watt video blogs about how a listing price is just an asking price and unfortunately the Canadian culture of not wanting to insult the seller by lowballing the seller leaves sellers with no choice but to price their Vancouver condos accurately. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.
Ian Watt: Hi Good afternoon! It's Ian Watt in Downtown Vancouver. I think because the market is been so hot for the last 4-5 years. People don't even realize that a listing price is an asking price not so all it is. It seems that people have been expecting if its on for $800,000 dollars to get about $800,000 dollars but time have change, the market is changing that's for sure. Everybody knows that. But people still don't want to go in and low-ball. It drives me insane, it maybe its a cultural thing, maybe people are too polite Canadians don't want to low-ball to other people or they just figure whether not to get that price because. Well they're asking for 800. So why would they take 750. I think its very fascinating to see whats going on the market. If you gonna sell your place you have to price it sharply. And if it hasn't sold for 800 then maybe you should drop the price. Because no ones gonna come along and offer 750 or 550 on a $600,000 dollar place. It has to be priced within reason and they have to have the numbers to back it up. Don't list your place and keep it on at the price that it was for last year. My name is Ian Watt and if you have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!