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Why Isn't That Home Selling? Clue: It's Not Always About Price

By
Industry Observer CalDRE #01165532

Why Isn’t That Home Selling?     Clue:  It’s Not Always About Price

 

Making Your Home Accessible When Your Home is on the Market for Sale - Realtor Michael Jacobs 818.516.4393 cell

 

 

Are you shopping for a new home?   

Have you seen home after home and learn days laters(okay, it seems like mere hours) that a home has an accepted offer?   Maybe there were multiple offers.   Perhaps over the list price.

Hmmm ---  you review what’s on the market...and you notice....

A home that’s been on the market for 30 - 60 maybe 90 days or more...

Why Isn’t That Home Selling?

Clue:   It’s Not Always About Price

Sure, price is an important factor in selling but it’s not always about price.

What else could it possibly be?

  • Make your home accessible - easily accessible


  • Showing(Selling) Agents want easy instructions to show -- make sure you see what the Realtor community will see regarding the showing of your home - ask your Realtor


  • Are you requiring advance notice 24, 48 or more hours before a showing can occur?


  • Do you or your agent need to be in attendance?


  • Do you have a lockbox?


  • Do you restrict showing hours?


  • Do you have a pet -- big or intimidating dog?  A cat that loves to escape?


Making your home easy to show - can help make easier to sell

Please note, when you list with me -- it does not mean your home is open for business 24/7 --- let me discuss a proven strategy that works in order to expose your home to the most likely buyers that will actually save you time and bring an offer that you can accept.   Will there be inconvenience?   Truthfully, selling your home has a definite element of inconvenience -- let me show you how to minimize it.   

Michael Jacobs is a Realtor in the Pasadena and San Gabriel Valley as well as the Northeast Foothill communities within the city of Los Angeles and can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.   

Why Isn’t That Home Selling?     Clue:  It’s Not Always About Price

Posted by

Michael Jacobs

 

CalBRE # 01165532

P. O. Box 587

Pasadena, CA 91102

Call/Text:  818.516.4393

mtj916@gmail.com

 

 

Comments (99)

Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

So true - you can't sell it if they can't see it. Sellers need to realize from the outset that selling a house does involve a bit of inconvenience.

Feb 26, 2013 07:02 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I am always mystified when showing a home is such an ordeal. While you expect some of that with tenants, it's hard to understand with the typical seller. Yes, it can be a challenge, and it's disruptive with kids/pets/working at home, but making it difficult only prolongs the process.

I always talk with my seller clients about putting themselves in buyers shoes, as far as scheduling, but also in terms of how the house appears. Some get it, others don't. And given how competitive our market is due to low inventory and high demand, some of these issues may be somewhat less important.

Feb 26, 2013 08:34 AM
Ron Rogers
Coldwell Banker Holman Premier Realty - Klamath Falls, OR

I agree that there are other factors that can be improve the likelyness of a property selling such as access, condition, terms, etc., but price overcomes them all. If access is not easy then adjust the price. If condition is not good adjust the price. If the seller wants to smoke in the house adjust the price. Sure they can choose to improve the condition or make it easier to show instead of adjusting the price, but why would they do that now that the home has been on the market 60 or 90 days. I tell people all the time that having a tenant in a home that is on the market will likely cost them more than what they will collect in rent when they finally get an offer. I let them know up front that if they have to have a tenant then we must adjust the price. There are only 2 reasons a property does not sell and those are PRICE and EXPOSURE. One is the agents job and the other is the sellers choice. If the listing is being kept a secret then it may even be hard to give away. But even the amount of exposure can usually be overcome by price as long as some people are seeing it.

Feb 26, 2013 10:17 AM
Paddy Deighan MBA JD PhD
http://www.medicalandspaconsulting.com - Vail, CO
Paddy Deighan J.D. Ph.D

it seems that sometimes a home as a bad vibe..hard to explain but definitely there sometimes....or a house feels "lonely" 

Feb 26, 2013 01:08 PM
Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Lots of valid reason why a home may not be shown as much but still think price is reality.

Feb 26, 2013 01:25 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Mitch - we just need to let them know.

Norma - there's lots of players involved in making a transaction successful.

Valerie - plus the reindeer doormat near the Valentine's Day wreath or any other leftover holiday themed items at the entry.

Jackie - I've seen some of those crazy preferred showing schedules too.

Dana - sounds as if you are working with some pretty savvy buyers.

Mimi - perhaps

Holly - especially if there are choices

Michael - pets can create lots of issues and the shame is it's not their fault at all.

Bob - when representing a seller, our job is to get the highest possible price and best terms -- we are negligent in our responsibilities if we don't deliver the advice.  A seller who doesn't follow it -- is one thing - but not to "know" about it would definitely be the fault of the agent...my opinion.

Russell -thanks.

Rafi - very true.

Sharon - very true -- unfortunately neighbor's homes are pretty much out of our control as well as the seller but it's a very valid point.

 

 

Feb 26, 2013 01:43 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Eko - any reasonable time with reasonable advance notice.

Mary - I'm not talking about unreasonable requests by buyers -- there needs to be respect on both sides -- buyers and sellers.

Kimo - yes she did.

Gene - that's always a possibility and I'm sure true at least some of the time - difficult to say for sure.

Carol - I have heard and seen some "secret sellers"  --- typically, they should be avoided.

Suzanne - I've made phone calls to show one or two days in advance for a particular day/time and been told -- I don't want any showings before noon, can you come back after 5PM?  Well, I don't plan to be showing homes to my buyer from 11AM until 6....so I guess we're going to pass this time.

Emilia - you're welcome -- thanks very much.

Sharon - yes, I've seen it too -- and in many cases -- those are the properties that make the average days on the market for active properties seem much different than the homes that are actually on the market for sale -- I find those situations "very curious".

 

Feb 26, 2013 01:53 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Marte - you're right - agents need to be upfront -- selling a home is an inconvenience, so let's make this as easy as possible for you by  addressing these items.....

Jeff - you make some very good points.   As markets continue to improve, sellers may think some "basics" of selling are no longer valid -- I say just the opposite -- if a seller does everything they can to make a home its most presentable, available and is priced well -- they will see even better results even in a very good market.

Ron - sure, you can price it low enough that it will sell but as I have stated in other comments -- a listing agent should let a seller know how best to maximize his/her/their net proceeds.   If a seller prefers not to do so -- the home will likely sell for less and will take more time to sell.

Paddy - I've heard that comment from some buyers before

Bill - price cures lots of issues but why wouldn't a seller want to achieve more?   Is it because of time to get the home in order?  That's a very good possibilty.  Too much effort?   Also quite valid.   It all comes back to what's most important to the seller -- lay out the options, let them decide.

 

Feb 26, 2013 02:01 PM
New York HOME INSPECTOR Inspector Holmes
http://www.linyhomeinspection.com - Farmingville, NY
John Holmes

Michael,

 Why dont you add," Get a Pre-Listing Home Inspection done." to that list?

Pre-Listng Inspections show Buyers that you care about the condition of the Home your selling, and that nothing is being hidden.

The items that an Inspector finds in the report can be replaced, or repaired and these improvements can be pointed out to Perspective Buyers.

 Multiple copies of the Inspection Report can be placed on Kitchen counter, or table for Perspective Buyers to take home and review later, giving them more time to think and "research" the Property.

 Buyers should still be urged to have their own Inspection done when they make an offer but this initial first Inspectors look at a Home can be a very valuable tool in Selling a Property.

Feb 26, 2013 08:58 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi John - a pre-listing home inspection is always a marketing tool and I suggest this to prospective home sellers.  We have the ability in our MLS to include them as an attachment.   Of course, a buyer will have their own inspections but some sellers may not have lived in the home for a long time(a probate or trust sale) or simply not be as aware of their home as other owners and this can be very beneficial to them.   

The purpose of this post was geared to the accessibility of a home that is on the market for sale so that was my focus.  As we know there are many components that can assist in making a home sale successful.  Thanks for stopping by and your comments.

Feb 26, 2013 11:32 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

So true. And as I always tell my sellers it's the three "p's:" price, positioning, promotion that also help sell a home.

Feb 26, 2013 11:39 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Nina - and the "p"romotion aspect includes making sure the property is properly exposed and the ability to be shown.  

Feb 26, 2013 11:44 PM
Annett T. Block
NextHome Connect Realty - Fort Lauderdale, FL
Your NextHome in Fort Lauderdale Beach

Oh so true. I have the most difficult with pets in the home. Just last week we had to look for the cat who was around us all the time and suddenly was gone. She was in the bed under the cover, and it was a little annoying, since cats are not my favorites and we lost time while the buyer wants to move on.

 

Feb 27, 2013 06:10 AM
Deleted Account
Fort Myers, FL

I can think of a few reasons: neighborhood, marketing, pets, availability to show, carpet, paint job, lack of exposure and repairs to be made, just for starters.

Feb 27, 2013 08:31 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Annett - today I showed a property where the listing agent told me the dog was nicknamed Houdini -- so watch out!

William - thanks for stopping by and commenting.  

Feb 27, 2013 11:46 AM
Anonymous
Kari McCoy

I agree, you can't sell it if you can't see it.

Mar 06, 2013 11:34 AM
#96
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Kari - indeed!

Mar 06, 2013 03:47 PM
Tammy Adams ~ Realtor / Podcaster
Maricopa Real Estate Co - Maricopa, AZ
A Maricopa Agent who Works, Lives & Loves Maricopa

We had this home out here that showed great in the pictures. But I had to laugh as it always showed up on the searches. The listing agent had to go in weekly and put the owners work schedule in to show the home. They both had jobs that jumped all over the place and the home was only limited to a few hours a day but those times constantly changed. I still wonder if they ever got to show that home to anyone.  LOL

Apr 17, 2013 11:01 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Tammy - I've seen similar remarks in our MLS as well -- it seems crazy especially if you are experiencing a buyers' market.   In a sellers' market -- you can get away with some level of craziness(more often than not it seems to buyers competing) -- but buyers will still probably "discount" the house to the some level for this "inconvenience".    

 

 

Apr 17, 2013 11:50 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

This is good advice. Sellers need to realize that selling their home is a necessary inconvenience.

Dec 05, 2013 11:55 AM