In this group coaching segment, Chris Prefontaine guides participants—primarily Deb—through evaluating an overpriced condo listing in Revere. Deb describes a top‑unit condo in a three‑story building that has been condo‑ized, noting a wide price range ($300k‑$500k+) and uncertainty about how unit placement affects desirability. Chris emphasizes that before diving deep into comparable sales (comps), the agent should first confirm basic details: whether an appointment exists, if the property has been shown, and what feedback the seller has received. He introduces a practical rule‑of‑thumb: zero showings suggest a 10‑15% overprice, while showings without offers indicate a 2‑5% overprice. He advises asking the seller about their net‑price expectations and recent market reactions, and cautions against over‑analyzing comps before seeing the unit. The conversation also touches on the impact of building style (3‑deck condoized vs. townhouse) on comparability, and Chris promotes SmartRealEstateCoach resources for further guidance. Overall, the segment offers a concise, experience‑based framework for agents to quickly assess and address overpriced listings without getting stalled on data collection.
Chapters
There's no wrong answer and I don't have all the answers. I'm just giving you how I might knee-jerk. Deb, Michelle, Rick.
Oh, okay. So this is that one I mentioned on my accountability. This is a realtor I called on another property. He was the— he had contacted me because he was the realtor on it. That's— that won't work for that property. But he said, I'm I have a property of my own. And so I didn't reconnect with him yet. He was out of the country and I called him yesterday. He was in bed with the flu. So anyways, it's a condo in Revere. I guess I'd have to go see it because there's— they really range a lot depending on where they are. It doesn't look like there's any—
Is your challenge comps, Deb? Just so we can see what— where we're going. Is it comps?
Yeah, I think it's comps because they range anywhere from $300,000 $40,000 to $500,000 and over. So I wasn't sure. It's a 3-decker that they made into condos. This is the top unit. Does the placement— bottom, middle, top— does that range make it more or less desirable?
Well, you got Carla, who's kind of in that area as a realtor, can comment on what makes them more desirable in a second, if she may. But I I'm going to tell you, I'm going to ask you questions, rather. Do you have an appointment? Did you already see him in the house?
No, I, I haven't reconnected with him because he was— he said, call me next week. And when I called him, he was sick. So we're going to talk the next couple of days.
Okay. So we don't know. We know he's open because you just said that, but we don't know anything else, right? No structure, no details, nothing. Okay. So why are you spending time on comps right now is where I'm going with this.
Okay. Well, he was having trouble selling it, and I— so I figured, well, I wonder why he's having—
So it's overpriced. We know that. What's the on par?
$499,900.
Okay, so it's not $5 million then because he didn't sell it, right? So now we're already narrowed down to like $340,000 to $440,000 in my head. But don't— but I'd stop right there. Like, that's enough. Me personally, coaches might have another opinion on this and there's no wrong answer, but I just wouldn't spend time. We don't have time. It's slowing down.
Okay. So then if he's open to— when I talk with him and I ask him what the feedback was that he got, right? Yeah, because that would be helpful. Then take it from there and say, press him on the pricing as far as comps and stuff.
Well, when you say press him, Derek might have some thoughts on this conversationally, but I would ask a bunch of questions. Yeah. What was the feedback? If you had— remember, remember you guys, very, very high-level basic comment to a seller that I used to use. Years and years and years as a broker. If you had zero showings, like you had nothing going on, you're probably 10 to 15% overpriced. If you had showings and no offers, you're probably overpriced still, but you're probably maybe in the 2 to 5%. Just a general rule of thumb. So you can be general like that with him and then say, well, so what are your thoughts now that you've had it on the market? Like what, what, what do you, what are you thinking you want to try to net? Like, I would just have a conversation. And if Derek or the coaches have comments again, There's no wrong answer and I don't have all the answers. I'm just giving you how I might knee-jerk. Okay.
And then on a condo that's a 3-decker versus some that, you know, are more like duplex style, does that matter? Again, I don't really need to worry about that right now, I guess, but I was just— it's not the area for me, so I wasn't really familiar.
Paula, do you mind commenting just because you're in the area? Because that's preference, but go ahead. Not sure where to get started. Go to smartrealestatecoach.com/getstarted. GetGoing for free books, strategy calls, and a whole bunch more. We're going to help you get going the wicked smart way. We've been after this for over a decade doing exactly that.
You're talking about like townhouse style. Every, every unit is floor level. Yeah, this one is a, it's a 3-decker that they just condoized.
So just one building.
They're not, they're, they're not comps for each other. If you have one where It's like a townhouse style and it's almost like a house connected to another one.
Yeah.
They're not comps for each other.
You're going to find other rehabs like that, Deb. There's plenty of those being done. I've seen where they're taking 3s and condoizing and there's plenty of those comps.
Okay, so I won't worry about it until I talk with them more. No, it's— you have to compare the style of the building. Yeah.
