Scenerio: You have a listing that's been on the market less than the average market time..this property is a townhome and is a couple of years old, yup there is new construction going on right within the community not only townhomes but single family homes with pricing as competitive to the current listing. Dang, no bites and sitting at the house with the sellers is extremely uncomfortable. Very little conversation, the sellers are disappointed and the agent feels horrible for disappointing the seller.
The agent has done extensive Internet marketing and priced the property properly, the sellers already reduced their price once and it just hit the 30 day mark. What do you do?
Take Advantage of a Open House - Its a Relationship Building Opportunity
It would be safe to say, if the sellers let you in the house and at least greeted you without cursing you out there is a window of opportunity to make things right in the sellers mind. See at that moment they are questioning themselves did they hire the right agent? I should have listened to so and so? I really didn't like that agent anyways this house better sell fast or I am going to fire them. Yes, all kinds of things are riding on this move and sellers start questioning themselves and sometimes beat themselves up. There is tremendous stress and pressure when selling a home regardless of who a person hires..there is a reason why someone is moving..thats pressure enough. Its your job to have the conversation....
The Conversation To What Needs To Be Done In Order To Sell A Home Within the Sellers Timeframe!
Think about these things before you speak
Do you know how many estate sales, reo sales and bank owned property sales have occurred during the average market time? Expired listings, active and solds of regularly marketed properties? Do you know the condition of currently listed competition, pricing and specs on the property? How about the new construction and the perks the builder may offer. All this information is useful and gives the seller a better understanding of what is going on in their market place and what is preventing them from selling their property as fast as they would like.
- Could it be pricing?
- Views and layouts?
- Curb Appeal?
- Too much inventory?
To a home seller talking like this may almost sound like excuses but the fact of the matter for some homes there is not much you can do and others a small change might get the home sold. But if it were me and I was sitting at an open house and the seller was disappointed and so was I, its time to get the secret weapon out... I couldn't picture myself sitting uncomfortably watching t.v. or reading the paper and the real estate seller sitting nearby.
Start The Real Estate Conversation
Start the real estate conversation and get the trusty computer up and running and get into the mls, present the facts, share the showing log and inquiries, let them see your marketing, share the agent feedback, discuss and brainstorm with the seller to come up with an updated strategy. Chances are if you are doing what you are supposed to be doing and current on community information a seller is probably going to say one of two things...reduce the price...or lets see what happens within a specific time frame. The key to it all is to make the seller aware of current market conditions. It is what it is... now what are we gonna do about it to get the home sold?
Get The Seller Involved and Do Something Different!
I have found people who actively participate in the selling of their home and those that are well informed often times get better results. It does not mean home sellers do the agents job but tasks that will give them a fair shot at selling a regular listing, market value, typical listing. Improving curb appeal or call in a home stager or agreeing to a price reduction. You get it...things within their reach. Not sure what you call a listing that is not an reo, bank owned property or short sale these days but I know one thing..the regular listings are "special"
Pssst...Mr. and Mrs. Seller Can We Talk? posted 4/11/2007
Inspired by a text message