Why Did the Neighbor's House Sell But Ours Didn't?
This is one of the toughest conversations we find ourselves having with a seller. One of our listings shows up with the words "Sale Pending" next to the address and other area sellers promptly contact us, asking "what are we doing wrong?" or "what should we be doing differently?".
The answer isn't always the same. It's not always about price. Sometimes, it's about the condition of the home that received an acceptable offer (or the homes that didn't). And other times, the reason is almost inexplicable.
In our largely second home community, absorbtion rates aren't high. Securing mortgage financing can be a challenge. A second home is a discretionary purchase, not a necessity. These and other factors contribute to the very competitive nature of listing a home on Madeline Island.
We try to communicate the importance of these factors to our sellers from the very beginning of the listing process. We do our best to encourage an aggressive yet realistic approach to listing a second home in our Apostle Islands real estate marketplace. That approach includes appropriate pricing, careful attention to cleanliness and condition, and exceptional photography. But even the most artfully-prepared real estate marketing and photography (or videography) may not be enough succeed without a frank and analytical dialogue about market forces and the need for appropriate pricing.
Here's the good news for home sellers who find themselves having to wait a bit longer in order to get the desired result. Sellers probably have more influence on the outcome of their listing process than they may realize. The law of averages dictates that you should choose a listing agent who knows how to market exceptional and upper-bracket properties (and who has actually sold them as well). Keep your hopes up, but understand the need to pursue achieveable goals. Cultivate a willingness to consider a compromise in order to seal the deal. Learn the importance of curb appeal, condition and cleanliness.
Call us at 715.747.6500 or email MadelineIsland@Gmail.com. We'll put our experience, artistry and instincts to work for you in listing and selling your home.
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