Friday, March 30, 2007

Why your house doesn't sell...

So we hear...

Three reasons your home isn't selling:

1. Marketing plan is poor or nonexistent;
2. Place isn't in selling condition;
3. Price is too high;

Big issue, get the price right up front. That initial month of the listing is when you get your best traffic...even if you price it right later on, it may be too late.

2 Comments:

At 11:13 PM, Blogger Eric Rojas said...

The price discussion is about as tenuous as the commission negotiation!

Seller's do not realize that if priced wrong out of the box, the property can become stigmatized for market time alone. Each person interested will try to get the "deal of the century" at your expense, thinking you can't carry the property any longer.

The art of pricing well and actually getting a great first offer, or even a multiple offer, must be strongly advised to the client. It is a much better negotiating position to be in if you are swamped with showings and urgency is created.

Second is condition of the property. The basics I speak of here are mainly geared towards condos with allot of comps. This is a difficult discussion sometimes too. I've learned to very stern with clients concerning the basics, such as deep cleaning and painting (a must), caulking baths and improving furniture layout.

If you are trying to get top dollar and make tens of thousands... you must be willing to spend a $1,000 or so in some cases to prep for sale.

As for the marketing plan... I think the bottom line is bodies through the condo, showing the best features in comparison to what's out there, and actually trying to find a deal with that buyer coming through. I've been able to generate lots of showings through various means with clients... so, that part is not brain surgery and is easy to show results. Getting the deal, and knowing why it's not happening, is another skill altogether.

 
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