Setting Real Estate Prices/Market fluctuation

King of Real Estate in Erie, PA Laban Marsh, Entrepreneur Extraordinaire Nedvonne Young, owner of FreshFold Laundry Co in Chapel Hill, NC are here because they are Broker Than You.

Laban talks about setting prices for clients who are selling properties. He is about under promising and over delivering, but with a real estate market changing fast, it’s ok to start a little high. Fresh shared a story about one of the first sales he was involved with, how it happened fast, how thought he should have gone up as well. Laban said withing 24 to 48 hours, you will know how things stand. If multiple offers come in, he can talk with a client about raising the price. He also said if there isn’t any action in that same time period, lowering is smart to get ahead.

Fresh again brought up how his mind works, with more money from a sale, he is already coming up with ideas for how he can use it to get a loan, move on to his next project, create a new revenue stream. He was asked about renovations, sell a house as is, or spend to make more. Nedvonne went back to his number one principle, knowing your numbers, that will tell you if the expense is worth it in the end. Laban said it can become challenging with added construction, jobs estimated to last 30 days quickly extended to 60, and the money doesn’t end up recouped.

We had a fun conversation about squatters; Laban dealt with a duplex they had to demolish because of damage left from tenants he didn’t know about. Nedvonne said commercial buildings can be toughest because many times, the owners are not local and squatter will take over. Laban is proud his daughter is going directly into the family business, Real Estate, after graduating high school in a few weeks. Laban hasn’t wasted time and she has been training on the job!This week, [someone], [someone else] and [another person] cover [topic].....