FAQ #8 FOR YOUR GANANOQUE REALTOR - WHY AM I NOT GETTING SHOWINGS?
This is one of the simplest questions to answer and one that is often asked in this business.
It all goes back to the very beginning when you first interviewed Realtors to list your home for sale. (you did interview, right?)
You see, Sellers are in charge of many many things and, so they should be. Some things are in their control of and others, completely out of their control.
The most important thing a Seller controls is the selection of the Realtor and that should be based on who will be able to market your property the best. Not who tells you the highest price at which to list it for sale!! (see FAQ #9)
There are 3 major things that need to be discussed once the above decision has been made:
1. Location Location Location
2. Condition
3. Price
The first two determine the third - EVERY SINGLE TIME!
One is in the Sellers control and other, not.
Which brings us to PRICE, which is entirely under the Sellers control! And, this is the last thing that should determine which Realtor you choose to Sell your home.
When choosing the Realtor, a Seller should be concentrating on the marketing of the home. Who will give it the most exposure? And I don't mean simple print ads that few buyers actually see these days. (newsflash: they're actually used to market the agent not the home!)
But even the best of marketing won't sell your home if the above 3 items are not addressed correctly!
A Seller is to be provided with all the current market data: what like properties in the area have sold for. "SOLD for" , not asking price!! That is always something I find Sellers are surprised by. They see the list price for their neighbours homes (the wish price) but rarely do they discover the actual sale price! (until it is time to sell their own)
When analyzing or comparing these properties to their own, the current CONDITION of their home needs to be addressed. This is not just personal style or taste so much as comparing the bones of the home: foundation, the energy efficiencies such as roof, windows, heating system, etc. The two most important rooms in the home are the kitchen and the bathroom - are these updated to reflect modern standards? What is the flooring like? (what is expected in your area; hardwood and ceramic or carpet and vinyl?)
These are things the Seller has control over. Do you want to update and have the price reflect the improvements? Many of today's buyers will not consider a house that needs updating. After all, they have most likely just worked on the home they've sold and don't want to jump in and begin again!
If your home requires updating and you're not prepared to do it, then this needs to be reflected in your pricing strategy!
Staging can improve many a homes first impressions as well as a thorough, top to bottom, inside and out, CLEANING. Spend the money!!!
(These will all be addressed in future FAQs so stay tuned!)
Back to the original question: Why is my home not getting showings?
If it is in a perceived 'bad' location, the price needs to reflect that.
If it is not in the expected condition for the area, the price needs to reflect that.
You've done your due diligence with regard to hiring the best Realtor for the job and yet you have not had an abundance of showings (and your home is not a specialty type home), the price is too high for the location, the condition or the current market!
You, the Seller, are in control of the price. You can't take it personally. Your home is either priced correctly or it isn't! And this is something that you need to keep an eye on . . . prices are continually changing. If a home sells in your area after you've set your price, you need to know how that affects you. Your Realtor needs to be in regular contact with you about sales and new listings in the area. Market price is what the market is paying and it is ever changing!
Take control and either reduce the price to where it needs to be or take the home off the market. You get the price it is worth, not the price you need!
If you're in the Kingston, Gananoque or Brockville area, and you are considering selling your home, allow me, Susan Emo, to be one of your 3 interviewed Realtors - you'll not be disappointed!
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