Selling Options when your home Doesn't Sell!

By
Managing Real Estate Broker with Flexit Realty "Flexible Home Selling Solutions"

Musical Realtors may be a new term and it doesn't have to do with a Rock Band!

Your have to make a decision when you prepare your home for sale.  Will you use a full service real estate company and agent or will you try on your own.  After making that decision the anticipation of selling sends your mind into the "what if" scenario. 

What if, we sell fast?  What will we do?Selling Options to meet your Selling Goals

What if, the offer is to low and we counter and the buyer walks?

What if, the buyer asks for concessions or large repairs?

What if, the buyer wants our appliances?

What if, we don't sell?

These are common concerns and valid issues that must be faced.  Let's look at what we can't control first.

Things You can't control:

  • Location, where your home or property is located is where you are, it can't be changed.
  • Style, what your home or property looks like, for the most part, can't be changed. The color can make a difference but the style of being a ranch or two story remains.
  • Layout, you won't be able to make a three bedroom out of a two bedroom in most cases without major renovations.  You won't be able to make the bathroom bigger or stretch the kitchen.
  • You won't be able to make the lot bigger or tear down the neighbors ugly fence.

Things You Can Control:

  • You control who sells your home.  You hire a real estate agent or you sell your own home.
  • You control your own asking price when you establish your sell price.
  • You control the condition of your home.  You either make repairs (should they be needed) or you price your home or property "As Is".
  • You control when and if you sell.  Understanding the competition and pricing your home or property accordingly gives you this control.
  • You decide if an offer is acceptable nobody else makes that final decision to accept or reject an offer, only you.
  • You control, if the buyer will get your appliances or not. 
  • You control if you will contribute to the buyers costs of a home inspection or home warranty.

The bottom line is you control your future, and how your home or property is presented for sale.

You have options some of which you may not have considered.  If you hire a full time real estate agent they deal with only selling real estate.  If you decide to sell your own home you need to understand the marketing tools you have available to you to reach your selling goal.

Most time sellers are limited to a for sale sign and poor buyer exposure that causes them to fail in their selling process.

Yet full service real estate companies offer agents tools to market homes that you might not have access too.  The Multiple Listing Serviceis the main tool real estate agents use to expose homes to buyers.  The Internet and website exposure to buyers is the other main tool.  Agents may or may not use magazine ads, newspaper ads, virtual tours, brochures or brochure boxes, open houses or any number of other marketing tools because they cost money and lower percentage results.  If you are a seller you want every tool available including those that produce lower results because the more buyer exposure generated the faster you will sell.  Nobody can argue this fact.  The more buyer exposure generated the faster the sale, because selling is a rule of numbers.

So if you have these tools you still may not sell.  Most real estate agentswith these tools sell less than 50% of the homes they list.  Your other decision is time.  If you decide to sell your own home or property, will you have the time to answer phone calls?  Will you have the time to schedule showing appointments?

I haven't listed every issue you will face selling nor have I listed every option to help you sell.  The point is you have choices and options.  Using a full service real estate company can provide you more options.

You have options when selling your home or property.  What works best for you is up to you.

For Personal Service, Call:  616-784-2360  EmailGaryWhite@FlexitRealty.com

 Thanks for Stopping By.  www.GaryLWhite.com

Comments (4)

Nor Yeretsian
Envoy Capitol Realty Inc. - Toronto, ON
Envoy Capitol Realty Inc., Brokerage Toronto

Good Post Gary , lots of good points to consider.

Especially like ; what can and can't be controlled lists.

cheers

Nor Yeretsian

Jan 23, 2011 05:21 AM
Phill Grove
REI Maverick - Austin, TX

Great article Gary.  One other suggestion is having the seller offer owner financing.  Of course, this is easiest when the seller is motivated to sell quickly or it's a higher end home and there is no other financing option available.  Also, buyers who don't qualify for conventional financing are much easier to work with and much less pickier than those who have conventional financing as they have little other alternatives.  This allows transactions to go on much smoother and quicker than when conventional financing is involved.

Jan 23, 2011 05:23 AM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Nor, many sellers think real estate agents can control more than they can.  In reality the seller controls the selling and sales options.  Thanks for the comments Nor.

Jan 23, 2011 05:58 AM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Phil, owner financing works when the seller has equity and the capability to hold a note for a period of time.  Higher end homes usually don't need this type of assistance because the buyers are usually in great financial condition unless they are relocated and how two mortgages.  Thanks for the comment Phil.

Jan 23, 2011 06:08 AM