I have a news flash. What you may see on the TV for Real Estate Reality shows may not be real!!! I have a seller who wants to use what he sees on TV, as the playbook for selling his Manchester NH area home.
This story starts around Labor Day. Mrs. Seller is ready to list and sell their home. Mr. Seller wants to wait. He has a list of repairs and upgrades he saw on TV that will improve and raise the value of his home he states.
The first thing I do in any Listing appointment is walk through the home. I make notes of such things out of place or in need of repair. I then sit down with the home owner and discuss not only the value of their home, but what the market is like now and what we may see in the coming months.
Value is based on a simple formula looking at what similar home sin the neighborhood, similar in size, condition and style. I add or deduct for extras or upgrades.
Next is discussing thw market itself. At that point in time, being Labor Day. I told him we were approaching the fall market which was as busy as the spring market here in NH. That September is the best month to list, that October will be busy but start to slow and about November 1st, things will slow to a crawl for the Holidays.
Despite Mrs. Seller loving the value, the proposed asking price and most likely sales price. He was not ready to list. He wanted to clean, de-clutter and complete that list of tasks he saw on his favorite TV shows. We gave him a week and would come back to take marketing photos.
One week turned into two weeks, then three then a month. I told Mrs. Seller that they were missing the prime selling season. They agreed on the fifth week I could come, take the photos, start the marketing and show the home. However they wanted to ask roughly $40,000 more that market value. Being a beautiful home, it would be the highest priced home in that search criteria, but we could try it 2 weeks. Then if it is not sold it should be brought to where it, should be.
Fast forward to a couple of weeks before Christmas. They missed the prime market of September. Being over priced has attracted inquires, but those buyers have opted not to see it as there is plenty of homes priced much less to see. "Why isn't it sold? and What am I going to do about it?"
The answer is simple, reduce the price to where it should be. No, that is not the answer Mr. Seller wants to hear. "How can I bring buyers to the home at the high price?' The answer is, buyers will continue to inquire. Showings will continue to be slow as there as too many other home in this price range priced where they should be. Sure, there is a buyer who will pay more for this gorgeous home, but you have to wait until the perfect buyer, is ready, willing and able to buy your home.
The moral of the story is an over priced home is just not selling in this market. We all know that there is a difference from agent to agent. That a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. The key to this story is feelings to matter in real estate and need to be kept in mind in ones actions. The seller also needs to work with the listing agent and not against them.
My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other..