5 Steps to Get Your House Sold By Labor Day
The 5 things Home Sellers need to do TODAY to get their homes sold before Labor Day.
•1. PRICE - If you price it well in the CURRENT Market they will buy. Consider market time (DOM) for your price range and competition and then price just below your competition.
•2. PRICE - If your home has been on the market more than 30 days without an offer you have missed on price. Step back and analyze your situation as it relates to the market. Remove your psychological connection to the property. Look at it as just another product on the grocery shelf in the houses aisle of the supermarket. You may have a top shelf home but you're still competing on the shelf with many other brands and houses.
•3. PRICE - You may be correct in thinking that your home is worth the price that you have it listed for but you may not have considered the price given the market. All markets are fluid and the current market may not reflect the market when you bought the home or what the market may be in two years. Just because you spent $50,000 on upgrades last year doesn't translate to grabbing an extra $50,000 in price this year.
•4. PRICE - You have hired a listing agent that brings her expertise to the situation. Don't try to rationalize with her. Accept that he/she knows what they are doing based on their years of experience and abilities. After all, you thought enough of them to hire them at some point. You need to listen to your listing agent. They know what they are talking about. I'm amazed that sellers want to rationalize so many points with the listing agent when the simple solution is to listen to the listing agent on price.
•5. PRICE - You can paint, stage, rearrange, give out gifts, incentivize buyers agents, offer bribes to buyers (closing costs), but if you have overpriced your home in the current market, savvy and educated buyers know it and the bribes just make it worse. Bribes = desperation.
Fix the price along with the paint and carpet and the home will sell.
As a listing agent I can tell you that the most frustrating thing to happen is to be hired by a seller and do everything in your power to sell a home. When it doesn't sell, the sellers blame you and change agents
What is the first thing they do when changing agents? THEY REDUCE THE PRICE!! You gotta' be kidding me! Why would they reduce it for a new agent and not for me. Good Question but this is an inexact science and often rational thinking does not prevail.
So, the 5 things Home Sellers need to do today to get their home sold by Labor Day include: PRICE, PRICE, PRICE, PRICE, and PRICE.
For more information about the current market give me a call at 280-0054.
Taken from Strategy Session - Top Gun Tim's Ask the Realtor - 970 AM WBLF Radio every Saturday morning at 8:00 a.m.
Copyright Top Gun Tim Tim Rogers 2008
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