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WHY A HOME DOESNT SELL & WHY IT'S NOT YOUR FAULT

Why a home doesn't sell and why it's not your Fault

There are five major reasons that cause a home to sell

Market Conditions - Beyond Your Control
Location of Property - Beyond Your Control
Condition of Property - Beyond your Control
Price of Property - Beyond Your Control
Marketing of Property - You have Control

Market Conditions:

You have absolutely no control over the market. Is it a sellers market? Is it a buyers market? Can you control either one of these markets? Absolutely not.

Location of Property:

You have no control over the location of the property. The seller made that decision.

Condition of the property:

You can give advice and direction to what needs to be done to enhance the salability of the property but you are in no way responsible for the condition of the property. The seller is.

Price of the Property:

Sellers determine the selling price. Seller will agree to reduce the price to get the property sold or not. Their pricing will determine if they get no offers, one offer, or multiple offers. The seller is responsible for this.

Marketing of the property:

Here you become responsible. Your job is to expose the property to the marketplace. You are not responsible to sell a home. Your job is to expose the property to the marketplace and the market will determine what the value of your seller's home is worth.

What to say to a seller:

Next time your seller starts to blame you for no activity and no showings, sit down and have the following conversation.

Mr. Seller, There are five major reasons that will cause your home to sell. The first is the market. Supply and demand. Both you and I have no control over supply and demand.

The second reason is the location of the property. You are responsible for the location since you purchased it. The third reason is the condition of the property. That too is your responsibility. The fourth reason is the price of the property. You have total control over the price. We can offer a price where we will get no showings. A price where we can get one showing, or a price where we can expect to get multiple showings. Are you willing to reduce your price to where we can expect to get multiple showings?

Finally, the fifth reason is marketing. That is why you hired me. To market and advertise your home to the market place. I have fulfilled my obligation which I have control over. The other obligations needed to get this home sold rely upon you.

YOU ARE NOT RESPONSIBLE TO SELL A HOME. YOU ARE RESPONSIBLE TO MARKET AND HOME.

Brett Noel / Success Coach / Trainer / Motivational Speaker

Learn more on becoming a millionaire real estate agents www.BrettNoel.com

Posted by Brett Noel, California's Success Coach Author / Motivational Speaker / Broker on 09/17/2007 04:37 PM

Comments (8)

brett noel, trainer, success coach, real estate agent, success, life coach

8 Comments on WHY A HOME DOESNT SELL & WHY IT'S NOT YOUR FAULT

Very good posting...

09/17/2007 04:42 PM

by MarQuis Rhodes (MarQuis Real Estate Group/Boise River Properties)

yes, you have some good points here.

09/17/2007 04:50 PM

by Tania King (Century 21 The Professionals)

Brett, I pretty much tell my sellers exactly what you said. When i list I get thisout of the way from the beginning. I tell them we are a team, whereby I am the public relations person for there property. I let them know it is their responsibilty to make it shine not mine. I can put all the fancy ads and comments about the property in newspapers, magazines and on the websites. I give them tips and guides form them to follow, and if they can't follow directions then more than likely the property will sit there.

09/17/2007 04:51 PM

by Paul Durry, Broker Associate, CHMS, I.R.E.S. (RE/MAX Professionals)

But, But, But, We can decide whether or not to take a listing.

If the home is overpriced, marketing is just a drain on the agent's time and resources.

If a property is priced right for the condition, location, market, it WILL sell.

09/17/2007 05:00 PM

by Lenn Harley Homefinders.com MD & VA Real Estate

I am going to remember that the next time I have a conversation with a seller. Great points. Thanks!

09/17/2007 05:32 PM

by Christi Stewart, Prudential Calif. Realty (Prudential California Realty)

If the seller knows all the above information stated and you work as a team.. the property will sell... Because of the market.. Seller has to be responsible for putting an effort in showing the property,and making it feel like home for the buyers. If the home shows well, and is PRICED right it will sell.. Take it from me .... it will work.....

09/17/2007 05:45 PM

Bret, Good points BUT I certainly do not agree that the pricing is not my fault. Out job as REALTORS(R) is too ensure that the price is right. The only reason there are over priced listings on the market is because the REALTOR(R) is weak. If we all knew how to price and just said NO this would not be a problem. But unfortunately there will always be someone willing to take the listing. I price the home not the seller. Proper pricing will overcome everything else.

09/17/2007 05:52 PM

by Bryant Tutas-Tutas Towne Realty, Inc

Bryan, Pricing is only your fault when you claim that a home should be priced at a certain level. You nor any agent can ensure a price is right. You are referring to agents that name a price to get a listing. I am so glad these types of agents are leaving the industry.

The market place determines the price. You can review comps and trends and statistics with the seller all day. The bottom line is " The market place determines the price of the home". If you as an agent did your job to expose the home to the market place, and the home doesnt sell, it's not your fault.

Bryan I agree with you: Many homes on the market are overpriced because the agent who took the listing would not or did not know how to "AS IS IT" with the seller and be willing to walk away from an overpriced listing. However: Once you have the listing, the conversation on why its not selling reverts back to my original point. Thanks for your input Bryan. Great Job

Brett Noel / Success Coach / Trainer

Teaching Real estate agents to become millionaires

www.BrettNoel.com

09/17/2007 06:02 PM

by Brett Noel, California's Success Coach Author / Motivational Speaker / Broker (Creating Millionaires one agent at a time)