I am not sure if the public hears this as much as I do..but I hear some Realtors who love to boast about their marvelous list to sale price ratios (lp-sp); i.e. what a Scottsdale home was listed for vs. what it sold for.
Well, woop dee do!
I am sure there are some Realtors whose real and actual list to sale price mean something. But if you are going to choose your Realtor based off of this stat..or being told you should, I would highly encourage you to not do so. It is for the most part a useless stat that has no bearing on anything positive for the sale of your home.
1-What if the Realtor is using the current price which has been reduced 3 times? It’s easy to sell something for 100% of something after the market has told you what it should sell for.
2-What if the Realtor underpriced the home to get multiple offers? Perhaps a good marketing strategy, but if it ends up selling for more, should that mean the Realtors stats should be padded?
3-What if the Realtor cancels the old listing, then relists and they have an offer and it sells for 100%? Did that Realtor really sell it for 100%? Sure. Does that mean their list to sale price should be 100%?
Am I creating the exceptions..or this doesn’t really happen. Think again. These are not the exceptions, and it does happen.
There are few stats that a Scottsdale Realtor has in my opinion that matter. You should be hiring that Scottsdale Realtor based on if you like them, trust them, and feel they will get the job done. Don’t gauge someone’s ability to market your home on a useless stat that has close to 0 merit.
I base the ability to sell your Scottsdale home off of a custom tailored marketing program that has proven repeatable steps to yield my clients more money. Fiction? No. Read about it in my book on Amazon.
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