Once again, the either luckiest or smartest front man of Redfin scores. My thoughts on the interview and how he came off aside, you have to hand it to Glenn- the master of “say it differently.” To understand why you’re a sore loser (if you’re even trying to counter Glenn as right or wrong) on the subject of science versus the real estate agent is simple- here’s what I mean:
Everyone knows and has advised against setting a sales price too high; the best suggestion to a client is to simply price the home at or just above or below what you feel fair market value is. The proof was this article by Daniel Rothamel where his list equated to a one liner –
the #1 way NOT to sell your home… 1) over price it.
Now, Daniel is no scientist, and it amazes me that it would take one (a scientist) to repeat what Daniel and many many other agents have been telling clients for years. But what makes what Glenn did utter brilliance is the delivery. He simply repackaged something and allowed consumers to hear it in a newer, fresher way from someone other than an agent, and hey, he got to be on TV to say it again, and once more- here I am, repeating him! There is a lot of truth in making news- it gets you business and I am sure Glenn did the team at Redfin a lot of good- success measured on many levels, a single new client would be a great success.
What seems to have many up in arms is what came 2nd or 5th on Glenn’s list, but you forget what Daniel and others have said- there is no need for item 2-1 million if item #1 is addressed-
1) price your home at fair market value
So in essence, Glenn could have said, standing on the corner in a hotdog suit will increase your odds of selling your home, and he would probably be correct. Because your home is properly priced, you in a hotdog suit might get the attention of would-be buyers is just gravy. I would also add that it is the Job of a Realtor to define ways to an owner that actually set their price over and above the neighbor and justify it in a winning fashion- that is the added value that was not mentioned on air…
So, h/t to Glenn, once again- you prove what a fun, simple, novel, approach to an old standard can become new again. I also do not disagree with the craigslist notion, I simply disagree that most agents don’t do it. I also am not sure about the Thursday/Monday notion. I think it goes deeper then that.
For example, in my market, we have a 1.5 week period of the month (I’ll not say which because that’s our own science) where buyers are more apt to search homes, and that period in our market has remained a constant regardless of the season or month of the last 3 years I’ve tracked it, but that period happens to at times cross a Monday, and even a Thursday. So, in the interest of elevating conversations- study that in your market and drop me an email and tell me what you see- I think you will find that by being a bit more specific you will know exactly when to list.
Here is a check on my sincerity- you can pinch yourself, they’re real compliments. I’m encouraging the entire RE.net to open a hand to Glenn and the cool folks at Redfin. I think if you look deeply enough you’ll see they aren’t so different from many of us who want to elevate the business. There’s room for Redfin at the table so long as Redfin can begin to recognize that some of the broad statements made about “all Realtors” might be a little much.
So, don’t be mad, and don’t hate- that won’t make you news worthy. Why not instead take a hard look at your own strategy- are you reaching your target? Are you saying things in a new way that gets attention? Until you do, keep your eye on Glenn and the team at Redfin- they may give you the permission you need in your own model.