Today I am thinking and working on a listing presentation for a seller who has been on the market for over a year now with a few agents. Apparently it is my turn to take a shot at the listing.
Well, when I looked at the history; the first thing that hit me was " why has this house not sold yet?" I have learned to do this with everyone of my listing presentations now. I ask them the question.They tell me what they think then I tell them my views and somewhere in the middle is probably the reason why.
But, today I read a fellow collegue blog on 7 reasons your home has not sold by Alan May. It inspired me to go take out my list I use and see how many of those questions made his list. All of my questions made it on his list in one version or another plus one. So, here are the standard questions I ask myself and the seller as to whay their home did not sell with the other Realtor:
1. Is it over priced for the market? Pricing a house slightly above the market to leave room for negotiations is fine. But are you 5% or greater above the market value? if so you are overpriced.
2. How is the quality of photos? And how many pictures are there? Most people today are visual. An old adage holds so true today more then ever before; "a picture is worth a thousand words". So how are the photos of the house? Are they fresh with the seasons? Or do you have snow and trees with no leaves on them with the listing in the summertime?
3. Is Your home reasonably availble for showings? Most people are not expected to be availble from 8 to 8 seven days a week. But for the most part are you accomadating for showings? Or do you make them reschedule the time?
4. Will your home appraise for your asking price? Unfortunately, in this market you have to factor in foreclosures and short sales when you are figuring the value fo your home. Yes they may need work. But is the amount of work needed justified in the difference in the price of the house?
5. Does your home need any updating or repairs? A home that needs major remodeling or updating from the 70's or 80's is going to detract from the value of the home to a prospective buyer. You do not have to be modern just in this century.
6. Has your home been on the market steadily for over a year without any time off? If so it could be stale. If it was over priced to begin with and then you have continued to lower the price it is just recylcing through the system. People are remembering it after a while and saying "oh ya, there was something about that house I did not like". Moving on to the next one and it could have been the intial price. Sometimes taking it off the market for a a couple of months and bring it back fresh will help the home attract the same buyers and make it look fresh and new.
7.Is Your home being properly marketed across the internet? This is one of the biggest reasons I find homes do not sell. In the technology age we are in right now; the internet has become the first stop for buyers to look at homes. If your home is not marketed across a spectrum of internet websites you are losing potential buyers daily.
8. Is Your Home Properly Staged? This can make the difference between receiving an offer and not receiving an offer. I showed three identical homes and my client purchased the most expensive one because it was staged the best and showcased the amenties and space in the house the best. They felt they were getting the best value for the dollar and remebered that house. All they remebered about the other ones were the clutter or family photos all over the place.
9. Did your Realtor work to try and sell your home? I always save this for last. Unfortunately, we get a bad reputation to begin with. But there are some Realtors out there who still believe put a sign in the yard, and place it in the MLS and it will sell. Well, those days are long long long gone. You have to market and network your listing. If you are not doing that you are not going to get it sold.
So, if you home has not sold. Ask yourself these eight questions. And be honest with your answers. Your home is the largest investment you made. It needs to be the most objective sale you make as well.....
Dave diCecco
Realtor/Broker
www.davedicecco.com
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