I have closing today. This house has only been on the market for about 2 months with me and sold for a little under market value. The issue is, it was on the market with another Realtor for 6 months and didn't sale. From what I could see, it wasn't from pricing, but from neglect.
This property is Investor owned and was purchased to rent for a year, to avoid short term capital gains, and then to sell for a profit. Fortunately, it was purchased at the right price and he will achieve his goal.
The reasons it had sat on the market, prior to me taking the listing, were:
1. Out of area Realtor (way out of area). 2. Very low co-broke being offered.
3. Condition of the property. I.e. dead bugs, unflushed toilets, scuff marks all over the vinyl flooring, 3 ft grass.
4. A key that wouldn't open the front door (needed lubricating).
5. Real Estate sign laying on the ground.
All of these issues were very minor, but if they didn't exist, would have made the difference between selling the house or the house sitting on the market. The Investor would not have had to support it for 6 months. The Realtor would of gotten paid. And the neighbors wouldn't have been upset over the condition of the yard.
This property is the perfect example of why it is so important to choose a Realtor who is in your area. And as a Realtor, don't take listings you can't service. If you are not able to check up on it at least once a week, don't take it. Just because it's an absentee owner and "they won't know" isn't an excuse. In fact, it's even more of a reason to be able to check on the property.
The Realtor who had the listing before still has not picked up the sign or removed the lockbox. He probably doesn't even know, or care, that the entire neighborhood is talking about him, and the company he works for, in a negative way. Not only did he neglect this listing, but any shot of getting future business from this neighborhood is gone. I don't know about you, but that's an awful lot of negativity, to not even have gotten a paycheck.
So folks, if you have to do a MapQuest to find your listing and stop twice for gas, then.................pick up the phone and make the referral!
You are so right. My other pet peeves:
- Out of season photo--nothing like saying, "gee nobody else has wanted this house since there was snow on the groud."
- No interior photos
- Lazy comments. Gee have you ever been in the house, mr lister? I know it was a 4br 2 ba, but what else can you tell me.
Congrats on the sale.