This is a little tale of a home that was on the market for some time. It involves realistic expectations from the listing agent and their ability to convey that to their client. In addition, this savvy agent has a professional home stager stage every listing she has (us) and we've had great luck helping her move her listings.
The home in question was listed on 12/31/2006 for $869,000. During this listing the home had received multiple price reductions with an extended expiration finally on 10/08/07 - final list price, $799,000.
The fact of the matter is that in this area there are an abundance of home and virtually all of them are second homes - vacation homes. In this market, they are not flying off the shelf. The seller is losing money every single month this home sits on the market. He decided to take his time, interview several agents and picked a great one.... one who understood the market in all its reality and pledged to get this home sold using every tool in her arsenol.
The agent not only took the time to have her professional staging team create a warm and inviting atmosphere, but also explained the market to the client in clear and no uncertain terms. The home was listed this time on 12/09/2007 for $729,000.
The home went under contract in only 60 days 02/08/08 and finally closed on 2/28/08 for $700,000. Yes, it was significantly less than the original listing. How much money and time did this investor waste in carrying costs trying to get an unrealistic price for this property?
In this case, the REA actually procured both sides of the deal - working in the best interests of both clients. We met the new homeowner the day of unstaging. She was thrilled and wanted our business cards. This will be a winter home and she has come back many years (renting). She already has a list of sellers she is contacting providing our information. She gave a glowing report of both the REA and our staging services and advised how savvy both of us were working with each other & what a difference it made in this particular deal.
Now, that makes for a great day!
;)
Links;)
Tags (Tag Cloud);)
Archives
A great stager is worth a million bucks if they can get the house sold. Thanks for the great posting.