In the Real Estate market we are in, and have been for a few years, everyone is aware that the time to sell their home is longer now. But, just becuase it is taking on average of six months or longer to sell a home; do you need to be locked in with a Realtor for that time period? Or can you cut your contract early without penalty and go with another Realtor?
The other day I talked with a couple who had their home on the market. They said that the Realtor was unresponsive to phone calls, e-mails and never told them what came out of the showings they had on the house. They could not wait for the listing to expire so that they could find another Realtor. Now, this may not be the norm among Realtors; but seems to becoming more common here in the Charlotte market. My first question I asked them after listening to their story was "Why did you not fire the Realtor?" They did not think they could fire the Realtor and was just waiting it out to the end of the contract.
This led me to the question; Why sign a long term contract (this scenario was a one year contract) and not ask if you can get out of it early? Most sellers do not realize they can cancel the contract. If the realtor did not do what he/she said they were going to do in the contract; they breached. That in itself is sufficient grounds for termination of contract. But considering that the average seller does this every seven years and the average Realtor does this every day it is clear as to why the seller woud not know.
That has led me to use a seller service guarantee with all of my listings. if you are not happy with my services for ANY reason you can fire me. No fine print. No excuses. My company has implemented this and I beleive so strongly in it. I do not get paid unless your home sells; why would I not do everything I can possible to get it sold?
I have told sellers and advised them to do a three month listing with me. If you are happy with my marketing strategies, performance, and follow up then we can renew it. If not we can walk away friends. I have not had one walk away yet.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Showing posts with label home selling. Show all posts
Showing posts with label home selling. Show all posts
Friday, January 21, 2011
Tuesday, November 30, 2010
Why Has Your Home Not Sold?
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
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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