The 30-Day Sale --or-- Why "We're in no Hurry" is not an option

By
Real Estate Agent with Jennifer Allan, Inc.

I can't speak for the rest of the world, but in the Denver metropolitan area, there are very few excuses for a home to be on the market longer than 30 days. (And believe me, our market is no picnic.) In fact, the longer a home is on the market, the less likely it is to sell and most certainly, the less likely it is to get you that full-price-or-close-to offer you're hoping for!

There is an energy in a newly listed home that dwindles significantly once you're past the 30-day mark. When a home is fresh on the market, everyone is excited... and that excitement truly is palpable in the air. The owner is all revved up and is diligently cleaning the cat litter box and wiping up his toothpaste spit. He dutifully leaves the home for showings and is happy to accept showings on short-notice. He cheerfully bakes cookies for the Sunday Open House and offers to help his agent put up her Open House signs.

Hopefully, the agent is also excited. She's proud of her new listing and can't wait til her Internet marketing kicks in and the inquiries start to flow. She loads her photos and descriptions onto the MLS, Realtor.com and Craigslist. She puts up her Open Sunday! sign rider. She produces beautiful home brochures. She follows up with every single showing and immediately reports the feedback to her seller.

At least we hope this is what your agent does.

After 30 days... eh... the energy is gone. The homeowner is tired of showings (or the lack thereof). He's sick of cleaning the house before he leaves for work every day, tired of no-show buyer agents, bored with the same ol' feedback. He heats up Chef-Boyardee for lunch and doesn't even rinse the dishes (ick). He refuses showings on the weekends. He demands open houses, but doesn't even make the beds beforehand.

The agent is also a little less enthusiastic about her Fabulous Listing. She's tired of following up for feedback and getting nothing useful. She's tired of explaining to her seller why no one came to the open house. She feels bad that she hasn't Done Her Job and Sold the House, like she promised she'd do. She starts to wonder if maybe, just maybe, she blew it on the price or, just as likely, starts to wish she'd never given in to her seller's pressure and agreed to HIS price. She knew better. Drats.

The market is certainly less excited about the Fabulous Listing. There's a whole different feeling when the buyer asks his agent "How long has this been on the market?" and the answer is: "8 Days" versus "63 Days" or even "122 Days." Who's gonna pay full price for a 3-4 month old listing? Doesn't matter if you Just Reduced the Price, ain't nobody gonna pay what you're asking.

So, how DO you sell a house in 30 days?? Stay tuned...

 

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Rainmaker
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Melina Tomson
Tomson Burnham, llc Licensed in the State of Oregon - Salem, OR
Principal Broker/Owner, M.S.
I personally don't take overpriced listings.  Why would I waste my time marketing something I know isn't going to sell.  I constantly remind sellers how stressful it is to sell their home, and that keeping the stress down does have a value.  They just need to decide what that is.
Aug 27, 2007 03:56 AM #1
Rainer
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Joanne Hanson
Coldwell Banker Colorado Rockies Real Estate - Frisco, CO
Summit County, Colorado Realtor

Hi Kim,

welcome to AR!  It is nice to have you on board and see someone else I already knew offline here! I hope your brother is still enjoying his home here in Summit County!

This looks like it will be a good topic.  I wait with bated breath for more!

Aug 27, 2007 09:59 AM #2
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Rainer
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Jennifer Allan

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