We seem to have become a nation who enjoys playing the blame game. If something goes wrong in an area of our lives, who can we blame? It can't be ourselves or our decsions. This is especialliy becoming problematic in the already weak and hard hit housing market. Sellers are starting to blame their agents for the fact that their house hasn't sold.
Say it ain't so!
It's not the agent, it's the market!
Now, I am an agent who has had a very successful track record . But the market right now is killing eveyone, more so if you are a seller. In this market, it's the buyers who are calling the shots and they know it. If you are a seller today, know this one thing; you're gonna take a hit. Be prepared for the "low ball ask for everything" offer because that is what you are going to get, plain and simple. Is it fair? No, but that is just where thing are today. Look at it this way; if they low ball you, you are going to take a hit but you're going to make it up on the purchase of your next home.
Sellers are quick to blame the agent but are slow to see that they sometimes are the unwitting accomplice in the big picture. Many are unrealistic about the market and think that although everything else in their subdivision has sold for $200,000 or less, for example, their home is unique and should be listed at 250,000. Right. Or they want to start to high and leave room to negotiate when all they are doing is screwing themselves out of activity by the buyers who really can afford their house. If they start off by overpricing, they are not going to get lookers, let alone offers, and then they spend the rest of the listing period chasing the marke after the y do a price reduction. A lot of sellers did the silly, 100% loan with no money down thing, thereby robbing themselves of any equity and now are upside down with no realistic way out unless they bring cash to the table. Of course, they do not even want to hear about that!
So, is it the market? Yes. Foreclosures are rampant and the media is not helping things by always lamenting how bad it is. Buyers are slow to make decisions because they are afraid they might still be better deals right around the corner and they are taking much longer to decide. Sellers are getting less money for a sales price plus throwing in more items like closing costs, rate buy downs and picky cosmetic repairs just to make the deal work.
Do the agents figure into the eqation at all? Yes they can. There are the agents out there who are just plain lazy who don't return calls or follow up with agents who show the property and yes, that does effect the sellers. If your agent is not providing feedback to you about the what the buyer and showing agent thought about the property they are doing you a huge disservice. A lot of agents now are having to get other jobs because they are no longer making the commissions they used to make and therefore can't give you the attention you deserve. But most agents are dedicated professionals who are hustling and doing whatever they can to try and get a successful, win/win deal to the tabel.
You can help make this happen as a seller by listening to your agent and pricing the property correctly. Declutter, clean, paint, replace carpet and make the curb appeal pop. (Watch HGTV's Designed to Sell for an eye opener about what a little de-clutter can do. Check your local listings; it's worth the 30 minute time investment.) Keep the kid's rooms picked up and work together with your agent to quickly fix whatever negative feedback items you receive from any showings. And don't be afraid to extend an offer to a buyer! I closed one of my biggest sales ever by doing just that!
Just keep in mind that in today's selling environment, it's the market!
Comments(0)