Here's a question which I think needs to be addressed. How saleable are your listings? And I'm not just referring to the price ...
As most of you are aware ... the inventory today compared to 2 to 3 years ago is substantially less. This of course is good news. What's interesting about the inventory is the fact that even in the hottest markets that most of us have ever seen, there were still properties that were on the market for 6 to 8 months ... properties that virtually never sold ... and properties that expired on a regular basis. IF PRICE WAS NOT THE ISSUE ... then what was the issue?
One of the things we always have to look at is the salability factors on a listing. The salability factors revolve in most cases around price ... the motivation of the seller ... the condition of the property ... the location of the property ... and then one of the key ... KEY factors ... which is how available is the property to be shown and sold by the cooperating agents?
By this I mean, and you already know, that a property needs to be readily available to any and all agents at all times, if we expect it to sell, and to sell in a reasonable length of time. The problem, of course, is that we each make exceptions to this particular thought. Those exceptions revolve around the fact that we are overprotective of our listings when we've sat before the seller and told them we would do whatever it takes to get their property sold. Part of that "doing whatever it takes" also means that we are upfront and honest with the seller about the importance of having the property easily available to be shown by any and all agents, at any and all times. How good are you at this part of the listing presentation? Because when you're not good at this, it becomes a very expensive and more importantly, a disappointing part of the transaction, for both you and the seller.
Take a real honest look at each of your listings and ask yourself is there any chance whatsoever that you could be part of the problem in getting the listing sold because you're not communicating to the seller the importance of making the property highly available to anybody that wants to show it. When you look at these kinds of thoughts carefully, you're opening up the market and making the property more saleable, along with the other conditions that we listed above. Give it some thought and be honest in your evaluation.
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