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Assess your time on the market. There are four main reasons homes fail to sell. You probably have a good idea of why it didn't sell, but check and make sure that wasn't all.
Reason #1: Improper Pricing Many sellers want to overprice their home when they first list. Listen to your agent. The agent cannot tell you what to list for, but they can show you all of the market data on comparative homes sold, pending and expired within the past 6 months, where they were positioned price-wise and being active in the field, probably more intimate facts about these specific homes that will help you position yours. After reviewing all data, objective, honest conversation needs to happen. As a general rule, do not list more than 5% above market value.
Reason #2: Marketing Informed buyers have spoken with a lender and have a firm range they're looking in. 74% of these buyers are using the Internet to find their home and 90% are using an agent. They're going to major real estate websites, and they're skipping homes without photos or home tours. Your home, with photos, should be everywhere they're searching to reach the largest pool of buyers that you can.
Reason #3: Poor Condition Every home needs some repair or improvement. Get a pre-listing inspection. Fix any necessary problems. Then stand back and look at your home's cosmetics. Stained, worn carpeting, scuffed walls, dirty cabinets and countertops, rusted sinks, dirty siding, broken windows, clutter, pet smells, cigarette smoke, etc are a major turnoff to buyers. A personal consultation with a knowledgeable agent, such as myself, will help you set your home among the most desirable. It doesn't take much - and it will bring in the profit!
Reason #4: Communication It's a nominal percentage, but some failed sales are a result of the agent and buyer not being just a phone call away from each other and in constant communication. Either to schedule a showing, or ask a question for a potential buyer, or a buyer who calls the agent to set up a showing and just doesn't feel comfortable with the agent's tone or inquiries into personal matters such as financing. You'd be surprised how many showings do not happen because the buyer's initial conversation on the phone with the listing agent makes them uncomfortable.
You're interviewing agents. All of them are telling you different things about advertising your home. This isn't uncommon. Even when you're talking with two agents from the same company, you're bound to hear different ideas and services. Why? Because times have changed. It used to be that the broker would pay for all marketing and advertising on your home. Now, the listing agent has a financial responsibility in marketing your home.
It's crucial when interviewing, to ask agents what they will do to get buyers into your home. If they start talking about MLS or the Broker and what they do, I guess you have your answer; they are not going to spend any money on marketing your home. Now ask yourself this, "Do I want to pay professional fees to this agent or to another agent who gives me more?" Most Expired or Withdrawn Sellers tell me they hired their agent because he or she was nice. Do you really want to pay someone thousand of dollars for being nice or pay someone for professional services based on what they can provide to you?
Do you need to advertise? YES! We are not salespeople. We are marketing experts! Buyers won't just trip over your home - my homes are heavily advertised to get buyers to view your home first!
Choosing your real estate agent is one of the most important decisions you will make when you buy or sell a house. The task is made more difficult by the fact that individual real estate agents have varying levels of expertise in pricing, negotiating, marketing and other essential services you need when you are buying or selling a house.
Clients often choose me for being outgoing, sincere, diligent and hard working. I have ideas and I bring along a whole toolbox of resources to help my clients get top dollar for their investment in the shortest amount of time possible. We talk in great length about concerns, needs, goals and selling points. We discuss the market and I give them a timeframe in which it should sell. I always promptly respond to requests for additional information and frequently call my clients with updates. My clients are just as informed about their progress, as I am, every step of the way.
If you would like to discuss why your home did not sell and what we can do to get it sold, please call me Brad Vannada directly at 417-257-9646.
It makes a difference who you hire to help you with your real estate transaction! You simply will not get the same result from every agent! |