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How to Merge into the Express Lane to Your Property

By Kathy S. Koops

Real Estate Agent with Coldwell Banker West Shell

June 17, 2008 07:27 AM

Here I am trying to drive to an appointment- dead stop- just idling in the express lane on eastbound I-275 - going nowhere. A thought crossed my mind about how many of today's sellers must feel the same way when they try to sell their house. They whip the property into good shape, complete the paperwork, sign is in the yard, lock box on the door and.......nothing. Dead stop, no activity- nada. Just like the traffic problems on the freeway, you want to move forward but you have no idea what is causing the stalled traffic. What's happening?

A reality check of today's market reflects many sellers gravitating toward the slow lane when they first enter the real estate market and never get up enough speed reach their desired destination.

Imagine you just listed your property-and you're merging into the slow lane on the real estate freeway. It is slow moving, crowded with grossly and moderately overpriced properties and you cannot get enough speed to merge to another lane. Slow lane sellers want to "ask a higher price for a period of time". They put their property on cruise control pricing because of a need to "net" a certain dollar amount from the sale or the mistaken belief that house is worth more than competing properties. Often the slow lane listings have skipped the "car wash" "detailing" and the "body shop" and they are not in tip top shape.

Slow lane listings are passed up by buyers who are doing comparative shopping and know neighborhoods and values.

They don't honk or wave at your listing- they just zoom down the road to the next property. You are stuck in the lane and you have no idea why nothing is happening. The middle lane offers a bit of a compromise for sellers...assuming they are priced close to the competition, they can ease their way into the middle lane knowing that somebody will slow down to look at their property.

Middle lane houses may be priced slightly higher than competition- but look great on the internet and have curb appeal.

However, there are no guarantees- if the inside does not match up to expectations, the buyers will back out at full speed and drive on. Odors, chipped paint, general messiness will not work in the middle lane of real estate. Also the longer you are in either the slow or middle lanes, the less likely you are to reach your desired destination - a sale. Zooming along the real estate freeway some sellers merge directly into the best lane of all, the high speed lane. Skill and planning are required in order to merge into this lane without an accident or other problems.

Sellers in the high speed lane are priced at or a hair below market.

The property is in picture perfect condition (for the price) and the seller has ensured all systems are go by fixing or replacing damaged parts. Properties in this lane sell quickly and, even in this slower market, may get multiple offers.

Is your property in the slow, middle or high speed real estate lane?

Before you list your property for sale, pick the the right real estate lane for a quick, profitable sale. Be honest with yourself and listen to professional advice. The real estate freeway is full of pot holes and construction zones and drivers cannot keep switching lanes with the hope of reaching their destination without incurring the price of wear and tear. Call for the help mapping out the successful route to the real estate express lane. 513-300-4090 or send an email.