Making The Sale...A Tighter Market May Force Some Adjustments for Real Estate Sellers
It wasn't long ago that competition was so fierce for houses, they were selling almost as fast as they hit the market. Real estate agents were advising potential buyers to put in bids above the asking price if they thought they had found the home of their dreams.
These days, it's taking weeks, sometimes months for houses to sell. Among the many explanations being offered for the slowdown: a greater inventory of homes, high interest rates and higher gas prices.
It is times like these that having the right agent can make all the difference in the world. But many home sellers may be short-changing themselves by working with an agent, merely because they were recommended by a relative or a neighbor, or simply because they came across one of their marketing campaigns just when they were considering a move.
Home sellers looking for the perfect match should start by getting references from friends, family and acquaintances, making sure that the agents you are considering have a proven track record in the community -- then do your homework.
Check out the agent's website to see how well they present their listings. According to the National Association of Realtors' 2005 Profile of Home Buyers and Sellers, lots of photos and detailed information about the property are two key features buyers are looking for when conducting research on line. Better quality listing content is therefore likely to generate more inquiries and prospects.
Send an inquiry to each agent through their website to see how long it takes them to respond. An independent survey conducted by Realtor.com unveiled that 45 percent of on line consumer inquiries go unanswered by real estate agents. With 45 percent of consumers expecting a response within 30 minutes, and 65 percent expecting a response within four hours, according to the same report, how fast your candidates get back to you provides a good measure of how effective they will be in selling your home.
Test to see if any of the candidates' listings appear among the top five results on major search engines like Google.com and some of the popular real estate search sites, like Trulia.com and Oodle.com. Specify your neighborhood name and city name in your search. Do this by typing in homes for sale in...the neighborhood name, city name, state name.
There are a lot of agents out there who think they can just stick a sign in the yard, take out an ad or two in the newspaper and sit back and wait for a buyer to come along. That approach may have worked in the mid- and late-1990s, but not in today's climate. The key to success, today, is being able to effectively market your properties where people are looking -- and that's on line."
According to the National Association of Realtors, more than 80 percent of homebuyers will use the internet in their next home search. So make sure your agent is up on the latest technology.
Permission granted by West Valley Family Magazine, October 4, 2006
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