Truth be told (bluntly) - Housing bits

By
Real Estate Agent with RE/MAX Results

There's no "magic" in getting your home sold, folks. Assuming you listed your home (making it possible for buyers to see it) with a competent agent who did what they promised you they would do, and all the value is added that you're willing to add ---- (updates and staging) ------ YET your home has not sold: It's price. If the condition is poor... the right price will fix that. If the location is a downfall..... the right price will fix that too. If your neighbor sold for less than yours because of the market conditions in your area.....(well..)....... you get the picture. No matter how many hundreds or thousands of people have seen your home on public websites.. it's not going to sell if it can't compete with others like it. Actually it will do the opposite. It will help to sell the other competing homes (ouch). Sellers forget that a home on the market becomes like anything else that is for sale. The buyers will buy what they feel is THE BEST HOUSE compared to all the rest in that price range that they can get for THE LOWEST PRICE that they can.

I think the best thing a seller can do to get their home sold is to know what the competing properties look like. You have to know who your opponent is. If you're trying to sell, tell your agent to take you out and physically look at your competition. This will help you see your home in the same light as the buyers are. A Realtor can tell you what buyers are saying to them about your property, they can guess what might help it sell based on what all buyers are saying they want, and they can tell you what others like yours are selling for. But, because you were a purchaser of your own home, your own viewpoint is a valuable asset to getting your home sold. Buy sharing your viewpoint through the eyes of a buyer to your Realtor - you'll make a great team and undoubtedly get your home sold faster than anyone!

It has to be said: If you spend your equity by borrowing against your home, you spent your equity. You'll have to bring money to close. How many things do you you currently own that in time make you money by just "being". Housing is always a good investment if purchasing sensibly.

At the same time, buyers have to understand that sellers are not all desperate. Just because they won't drop $10,000 off their asking price doesn't mean that they are not wanting to sell their home. Many sellers are priced right at their market value in hopes of selling in a timely manner. Sometimes it takes a little bit of "shopping" around to be be confident in being able to identify a good price.. and when you do, know that other buyers will come to the same conclusion. If you wait too long, someone else will have made that same assessment and will beat you to it. This will happen in every market. The good news: almost always, another home will pop up that's just as nice.

Questions - feel free to call and ask: 507-421-3980

Comments (1)

Rita Sinclair
Alain Pinel Realtors - Hillsborough, CA
Your Scottish Realtor

This is so true, I always tell my sellers when there home won't sell is the only reason for this in it's present position is price.  We can't change the location, type of house floor plan, we can sometimes upgrade if that would help, but bottom line if it is not selling we need to reduce the price!!

Aug 13, 2009 07:42 AM