Now is the time for each and every seller to ask themselves, "Did I choose the right agent to sell my home?"
Selling a home in a difficult market can be tough. How often are sellers getting in their own way?
Look, unrestricted lockbox access increases the likelihood that your home will be sold since agents won't have to jump through hoops to show it. Restricing access will greatly diminish the number of showings you'll have.
This morning, I just saw a listing hit a client's search parameters as a price reduction. I went and previewed this property about two weeks ago. It was on the market for $229,000. My clients didn't want to spend more than $195,000 for a home. I previewed it anyway since it had a pool and was the exact, EXACT same floor plan of a home that they didn't get when they were outbid in a three week process.
Why didn't they make an offer on it anyway? - The $229,000 price scared them. There were three other EXACT MODEL MATCHES that were priced below $200,000. All three went under contract. My clients would have easily paid $190,000 to $195,000 for this home, CASH. They really wanted to move! They were worried about whether or not the seller would settle for a price in the $190's so they didn't feel comfortable making an offer. LOSE-LOSE
EVERY EXACT COMPARABLE on the market sold for less than $200,000! It was painfully obvious that the subject listing was overpriced by $20,000 to $30,000. Sure it wasn't a short sale or REO but I doubt there was an agent that would miss the mark by that much! How do I know about every other comparable? The same way I know that there are 6 of this model in a two square mile radius that are in default! My clients liked loved the floorplan so much that I was tracking potential short sales and foreclosures for them...
They fell in love with something else!
Today, this listing sits at $190,000. THE "OWNER WANTS SOLD" comment is even in the MLS report. Maybe the owner should have wanted this sold a couple of weeks ago and had it priced accordingly. If so, my clients would have picked it up. Instead, they paid cash and closed on a home last Thursday. I can only imagine how the sellers insisted on a $229,000 price. BIG MISTAKE!
Sellers, trust the professional that you hired!
- If they tell you to keep the air on cold, trust them.
- If they think that unrestricted access is important, figure out how to do it.
- If they're willing to do an open house, let them.
- If they tell you that pricing has changed and a price cut is in order, do it or counter argue or expect your home to sell whenever the market gets around to seeing value in your house.
- If they suggest staging, get it staged.
- Needs work, get it done.
- Clean off the counters, remove family photos, clean the closet, clean the front door, plant flowers, keep the interior spotlessly clean
Do what you can to sell your home or get a lawn chair out and watch your neighbors sell their home first.
Comments (11)Subscribe to CommentsComment