Days On Market And Price Setting In A Changing Marketplace

Audie Chamberlain and Laura Brady at last year's Worthshop conference.

Audie Chamberlain and Laura Brady at last year's Worthshop conference.

One of the reasons for the current podcast trend is that we can all learn so much for listening to two intelligent people in discussion with each other. Podcasts are one of the best ways of gaining information and an insight into someone else's world. 

Setting a price is one of the most important and often delicate parts of real estate. In episode 7 of the new Hawaii Life Procast podcast, Matt Beall, Hawaii Life co-founder and Laura Brady, Concierge Auctions President, delve into the delicate question of pricing and the harmful effect of days on market. Listening to two of the smartest minds in real estate talk data and strategy is a glimpse into greatness. 

Laura and her team often liken days on market to UV rays on the skin. A home that sits on the market for a long time, becomes, through no fault of its own, perceived as less valuable. When a  home is overpriced it can rack up days on market quickly but setting price and expectation with sellers is not always easy. Matt and Laura discuss the challenges and offer a few ways to be open and direct with clients about pricing. 

The world of luxury real estate is changing. It's more global than ever, and quicker than ever. The Instant Gavel app from Concierge Auctions is a great example. You can watch, in real time, as a home transacts on the auction marketplace. In the podcast, Matt shared the experience of being in San Francisco while at the Inman event at Facebook headquarters and being able to watch as a property was bid upon and ultimately sold.

Matt and Laura also talk about the value of having a support system in place and how to use time blocking to make sure that you balance work, family, and personal time, as well as the challenges of leadership. 

You can find all episodes of the Hawaii Life ProCast here or subscribe via iTunes. We promise it is worth your time.