Inside a Tiny Cut

Posted by Dave Fratello on Thursday, August 4th, 2011 at 5:58pm.

462 36th Place
News item: 462 36th Place (2br/2ba, 1200 sq. ft.) made a new, small price cut on Wednesday.

How small? $50.00. About the value of a gift card.  (For a recent review of the property, see this Weekend Opens post from May 20-21, 2011.)

It's not the smallest cut we've ever seen – that was $5.00, twice. See our post on that from '08 ("We'll Give You 5 Bucks.")

We were wondering how one decides to make a minuscule cut like they just did at 36th Place. Here's how it might have happened...

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FADE IN:

INT. RESTAURANT/DINER (LOCAL YOLK) – MORNING

Bright light abounds amid the bustle of a popular breakfast joint. People of all ages are seated in the dining area, spread out among tables and padded booths. Servers rush from table to table. REAL ESTATE AGENT and CLIENT confer in a corner booth.

AGENT
(pleading)
Look, we're not getting any traction. That's all I'm saying. We have to do something to get noticed.

CLIENT
(emphatic)
The house is beautiful. If people would come see it, they would know. 

AGENT
Of course, of course. You've done great work with this place. It's transformed.

CLIENT
You have to emphasize the location. It's a wonderful location. 

AGENT
(sheepish)
Well, I'm not sure... Some people may not see it that way.

CLIENT
(raising his voice)
Come now! It's a wonderful location. You have to tell people that. They will come and see.

AGENT
OK, OK, you're right. I will play up the location. Actually, I'll put it right there in the listing, right at the start. 'Location, location, location!' We will scream it. But you have to give me something else to work with, too. We need to cut the price.

CLIENT
We don't need to cut the price. I have already cut the price. Twice I have cut it. Now people need to come see it. Then they will know.

AGENT
We're 75 days into this listing. It's been exposed. Summer is getting on now. When do you want to sell this property? It has to be in summer. And if you're going to do that, we need to make a cut.

CLIENT
No, no, no. Do you have any idea what I paid? What I put into this place? Now it's already like I am giving it away. This is not charity, it's real estate.

AGENT
Well, the market has been tough. We've talked about this. You know you're going to take some kind of a loss. I'm sorry about that. That's just the way it is.

CLIENT
I don't know if you're getting people to see it. If they see it, they will know. They will like it. We will sell it. You will make some money! Now let's get people to see it!

AGENT
We've had showings. People come through. We had a lot of attention before, early on. But, you know, bottom line, the market is saying: We need to make a cut. Another cut.

CLIENT
Boy, you're really a Johnny one-note on this. But OK, for you, you're so strong in your feelings, OK, I will make a cut. Here's the cut. 50 dollars. You go ahead and cut the listing now. Do it from your iPhone! Cut 50 dollars. 

AGENT
That's not really a cut. That's not what I'm talking about. I had a number in mind. We just, kind of, did this sort of thing the other day, with the 400 dollar cut.

CLIENT
But any cut puts us on the list, right? People know we've made a cut. It's up on the internet, on the printouts? It gets us featured. You told me we could cut one dollar and make the list. So I say, cut 50. 

AGENT
You want to make a 50 dollar cut? That's all? I don't really think...

CLIENT
Did I stutter? So tell me, how's your jalapeño hash?

AGENT
Delicious, thanks. I have to say, it's great working with you.

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