| As the market has cooled from a frantic seller | | | | angry instead of ready to negotiate. |
| market to a very slow buyer market a number | | | | 2. The Property is not in Market Ready Condition: |
| of articles and lots of word of mouth advice has | | | | Sellers who are unwilling to get their property in |
| appeared on how to sell your home. Ideas on | | | | market condition should either not sell or be |
| ways to entice buyers vary from milk and | | | | prepared for a very low price. I'm not talking |
| cookies to offering the latest model Rolls Royce if | | | | about remodeling a kitchen or adding another |
| you buy the house. Trips to Hawaii, the Caribbean | | | | bedroom. Market condition is clean. Clear out all |
| or Tuscany seem to be big this season. Some | | | | clutter. If you have the resources you should |
| owners have tried offering a 10% fee to selling | | | | always paint. This is especially true if your favorite |
| agents in hopes an agent will steer a client to their | | | | color is mauve and you have painted all the |
| house instead of the one down the street. | | | | rooms in various shades of purple. It doesn't have |
| Another idea resurrected from the '90's is burying | | | | to be white but a good neutral color will update a |
| statues of St Joseph on the property. The list is | | | | property. New carpet is a better choice then a |
| endless and yet many homes continue to sit on | | | | carpet allowance. Many of today's buyers work |
| the market with no prospective purchasers in site. | | | | long hours and don't have the time or energy to |
| As some homes continue to remain unsold after | | | | think about fixing up a property. They want it |
| their competition has sold sellers are looking for | | | | clean and in move in shape. $300.00 in flowers will |
| answers. The first tendency is to blame the agent | | | | do wonders for a home. Most people make half |
| when the property doesn't sell immediately. Some | | | | of their decision on a home before they get out |
| agents are a contributing factor if a home has not | | | | of the car. A great interior with no curb appeal will |
| sold; especially if the agent didn't do a thorough | | | | sit on the market. |
| Market Analysis, or has done nothing except put | | | | 3. The Property has a Fundamental Flaw: |
| up a sign. Fortunately these agents are relatively | | | | Maybe you don't pay much attention to the new |
| few in number. Most agents take pride in their | | | | freeway but you can bet a potential buyer will. |
| work. We really enjoy helping you move to a | | | | You may love the idea of a detached family |
| new home or another area or state. That's our | | | | room but it may not be a big plus when you go |
| job. Occasionally there seems to be to no reason | | | | to sell. Rooms that have odd shapes or baths |
| why one home on a block sells immediately and | | | | that are too small or floor plans that don't flow |
| another stays on the market for 6 months. Yet | | | | well will all keep a home on the market longer the |
| the market is usually logical and orderly if you can | | | | others without the flaws. I remember a home |
| figure out the key. While there are exceptions to | | | | that had four bedrooms upstairs without one |
| all rules; it seems to me homes don't sell for one | | | | upstairs bath. The bath was downstairs and |
| of four reasons. A home that has one or two of | | | | around a corner. It stayed on the market a long |
| those reasons will stay on the market for a long | | | | time in a hot market. You may be used to your |
| time. A home that has all four items will be on the | | | | homes quirks but buyers will always go for the |
| market forever. | | | | more conventional home on a quiet street. |
| THE FOUR MAJOR REASONS A HOME DOESN'T | | | | 4. The Fee to the Buyer Agent is Very Low : |
| SELL: | | | | Of the four reasons listed the fee paid to the |
| 1. The Property is Overpriced: | | | | agent is the least problematic and affects the |
| No one wants to hear this. All sellers know the | | | | time a home stays on the market less the other |
| agent has not placed a high enough price on their | | | | factors by a wide margin. However this is often a |
| home and all buyers know the price is ridiculously | | | | sticking point for many sellers. In a hot market a |
| high. However there is a mid-level that works for | | | | low buyer agent fee doesn't make a lot of |
| all parties. The trick is finding that level. A well | | | | difference. It may take two weeks to sell instead |
| done Market Evaluation is a great start. In | | | | of 4 days but overall it will sell fairly fast. In a |
| addition, Sellers should look at their competition. If | | | | slow market a low fee to the buyer's agent |
| the house down the street is at the same price | | | | means you may be on the market a long time. |
| you would like then they should be in the same | | | | There are many agents who will show your home |
| condition. If your competition has a fabulous new | | | | with a low fee if it fits their buyer's needs but |
| kitchen while you still have avocado appliances and | | | | reality says that if there are 40 homes for sale in |
| chipped formica you need to rethink your price. | | | | a neighborhood with a similar fee and you are well |
| Testing the market is not a good strategy. While | | | | under that fee most agents will show other |
| you are testing a price that is $100,000 more | | | | homes first. You would do the same.. it's human |
| then the competition, those other homes will sell | | | | nature. This doesn't mean you have to go over |
| and you will become an old property. When a | | | | what is customary in your area but you should be |
| home has been on the market for a long period | | | | close. |
| without an offer buyers believe there is | | | | I know that everyone knows someone who had |
| something wrong with the property. Buyers will | | | | all of the above problems with a home and sold it |
| make an offer even if it's over-priced is | | | | in a day. The fact is that some houses have a |
| something all sellers believe and it isn't true. | | | | certain feeling about them and will sell no matter |
| Buyers pick a price range they are comfortable | | | | what their condition, price or location. But for |
| with and look at homes in that range. Many have | | | | most properties the above list represents most |
| learned from bitter experience that making a low | | | | of the factors that will affect how long it takes to |
| offer on a high priced home makes most sellers | | | | sell your home. |