My hope is this blog won't be redundant but instead help someone who has had the same questions as I.
Have we heard of the 8 second rule; Buyers have a tendency to make the big decision of whether or not they will make an offer on the home, in the first 8 seconds
Not Selling, no offers? I always ask myself these questions:
- Is it the Staging? Some houses are vacant and so we have to consider trying some little things which can be done to make kitchens and baths look warmer. Towel racks, table settings, floral arrangements etc.
- Is it the Price? If you are already over priced, it's not hopeless but should be avoided in this market. I show sellers where the sold price points are in homes of their caliber and ask them if they were a buyer, would they mind paying 20k more just because the seller needed it? Make price adjustment if you've been on the market and not getting an offer.
- Is it the Condition? 8 Seconds is not a long time when making a decision to buy a home. Buyers are said to make their decision in 8 seconds of entering. What do you see in these 8 seconds? Can you see the house? Is it filled with personal pictures? Do you see small rooms, cluttered closets, kitchens in disarray, packed storage? Suggest Minimize and Declutter, on the whole house!
- Is it Curb Appeal? If you see a cracked sidewalk, chipped and peeling paint, door handles that need attention and rocky terrain for landscaping, probably the home could use some external attention. If a buyer is seeing safety and health hazards outside the home, the feeling will probably follow them inside.
- Is it the Location? If it's location, go back to price. If the location is a challenge, you can't change it unless you hire a structural engineering company to relo the house. If it's not the location, you have no offers and pricing is right, look to the condition or make a suggestion to adjust price for it.
- Is it the Agent or their marketing? Some agents don't do much, put a home on the mls and put a sign in the ground. We've heard it before; real estate is a visual medium. Pictures tell a thousand words and visual tours tell more. If as an agent, we're not using them, I know first hand that listings are excluded in searches because they have none or 1 in the picture department. Classes are everywhere, most free, on how to take pictures and also make visual tours. It's easy, most often free and we're doing our sellers a favor. Do we really have a ‘marketing strategy', if not, we should consider polishing one. It's one of the things that sets us apart OR NOT.
Price War and Beauty Contest. That's what we have today. Today's market is less forgiving than the past. I always recommend home inspections before going on the market. Detailed Pricing strategies to include all recent sales and then don't try to beat them. I like to Stage, price correctly, declutter and minimize stuff while putting your most seductive dress on. I mean that in a professional way as in "dressing up your house". All of these things can lend themselves to a interested buyer.
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