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Sellers Beware! This very boring post is what your home looked like to my very Qualified buyers, if it even showed up at all!

By
Managing Real Estate Broker with LoKation Real Estate

Sellers Beware! This very boring post is what your home looked like to my very Qualified buyers, if it even showed up at all!: I have spoken on this topic numerous times in the past, and every single time I see a listing like this, it drives me nuts. In a day and age when we have so much technology at our fingertips how can any "professional agent" list a home without a photo?

 I work primarily as a buyers agent, meaning the majority of clients I work with are buyers (I will also list homes but I am very selective on only listing homes for sellers that are willing to do everything I suggest to get their home sold fast and for top dollar). The one common denominator with every single buyer I work with is this- Major mistake number one- If a home does not have pictures when it goes on the market they will not see it until 1. the listing is refreshed, which could be months, 2. They take a price reduction, Wake up call right here, Mr. & Mrs. Seller, you probably would not have had to take a price reduction if your home was marketed correctly to the 90% of buyers that deleted your home the first time they saw your listing come up, BECAUSE THERE WERE NO PICTURES!!!

Major mistake number two: Retail Pricing of a home (any time an agent prices the home with .99 in the price, ie 249,900, they are missing half of the buyers, and more importantly the half that can not only afford your home but will more than likely offer full price. Let me explain, when a buyer is searching for a home, many times they are pre-qualified (and many times they are not) but they will all search in a price range that is in their perceived comfort range, lets take the example of the $249K listing price, any buyer pre-qualified to $250K will find it because they are most likely searching homes that are from $225-250K, but the $250K is at the top of their search, so even if they like your home they will more than likely try to get you to come to a more comfortable price, say $235K. Now lets look at the buyer that is qualified for $260K, not much difference in the home they can afford, but a major difference in them ever seeing your home if it is priced at $249K, because they will be doing their home search between $250-$275K and will never even know your home, that they easily qualify for, even exists. Now if your home was priced at $250K (lets see, nope, that wont cost you a dime to price it that way) you would have all of the buyers looking from $225-250K as well as those from $250-275K

Sellers if your listing looks like this on the first day on market ( I saw this one just this morning)

Priced at $423,900


Then not only did you miss out on everyone that likes to see pictures, you also missed all those that can afford $425+ and sooner or later your wonderful agent will be asking for a price reduction, most likely because you are not "getting much activity if any at the current price"

Once again, this is what I hear my buyers say on a daily basis, in fact many buyers I work with ask me not to send them any homes without pictures, go figure.

Sellers that list with these agents, I am very sorry, when they ask you for a price reduction, ask them to show you the marketing they did the first 24 hours the home was on the market, if there were no pictures I would not reduce my price, but reduce my choice of agents. Please do your research when selecting an agent to list your home, first impressions are absolutely critical in getting the most $$$$ in the fastest possible time.

 

     
Posted by

 

John Marshall -Fore!

Low-Maintenance Golf Course Living

I have been involved in the Golf Communities through-out Colorado for the past several years. As a contributing writer for Colorado Golf Magazine I write articles regarding new course development and their surrounding communities.

720-982-6322

"A good agent will learn to dance to the clients music, but a great agent will write the music that attracts the clients he wants to dance with." John J Marshall

If you are a new agent and finding the road more difficult than you thought, please send me a note and I would be happy to help.

I enjoy helping agents to find their niche!

 I am happy to help.

Denise Tower
Coldwell Banker Gundaker - Maryland Heights, MO
Your Neighborhood Realtor

How true. Sometimes sellers want their house in the MLS right away but aren't ready for photos yet.... I tell them to wait until they are ready for photos. It makes me look unprofessional and instantly decreases their buyer pool.

Mar 18, 2012 02:57 AM
Bryan Robertson
Los Altos, CA

You make an excellent point about photos.  If there are no photos or not enough to get a good sense of the home, why would a buyer bother.  No photos or very few shows a lack of serious interest in selling.

Mar 18, 2012 03:00 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Not sure I agree with the pricing idea.  In fact, I was taught to set up searches for buyers BELOW certain price ranges with other criteria, like number of bedrooms and bathrooms that meet their needs so we don't miss out on anything. 

Mar 18, 2012 03:33 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

John the no photo, a few photos or poor photos is so lame in this day and age - and yet we see it over and over and over.  Our MLS has a rule that you need at least one photo of the outside of the home - and we all know who uses only one photo - reo listings. generally as many don't show well. As for regular traditional listings there is no excuse for the home and pictures to be top notch from minute one.

Mar 18, 2012 05:40 AM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Denise- I am just more surprised by the experienced agents that do this on a consistent basis, How can you possibly not have a professional photo shoot of your listings? Or at the very least just have photos available when the home goes live.

Bryan - Exactly, like I said, I have been told by some buyers to please not send them homes without photos, difficult to do with the automated searches that I have for them.

Chris - My point exactly, you are a trained professional, you were taught how to search for homes and I do the same thing, in fact I pick such a broad price range for my buyers and many times will leave out all their preferred criteria, except for maybe the absolute basics, because so many agents are inept when inputting data, I actually found a great home for a buyer a few years back that was listed as a fixxer upper, I knew the area very well and knew that it was not a fixxer, but rather a fixed up listing, the agent marketed to the wrong audience. My point is that with all the data about home buyers beginning their searches online, or continuing their searches online, half of them will not even see te listing if it does not have a "broad" price point to begin with. 

Anna - our MLS used to offer a drive by photo so the agent did not have to take any pictures at all, talk about the epitome of lazy, and even then it could take up to 7 days before a photo was loaded

All- I will say that I have found a couple of these long on the market listings with no photos for my buyers and we were able to get a better price because the seller was feeling the pain. As for the pricing, my buyers almost always offer much less than asking when they are straining to meet the asking price, but when I am able to find a home in the price range beneath their preferred search range they typically are happy to get it at or very near full asking price. This is why it is critical to market the home at a very broad price point, attracting all possible buyers, after all our job is to get the highest and best offer for the home, why wouldn't you want more capable buyers to see it?

 

Mar 18, 2012 11:47 AM
Linda Kermanshahchi
Platinum Drive Realty Inc. - Scarsdale, NY

Nice points! Finally a blog worth reading!

Mar 21, 2012 07:44 AM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Linda, I am glad you enjoyed it, it is one of my biggest pet peeves. laziness and lack of professionalism. Hope you enjoy Activerain.

Mar 21, 2012 08:28 AM
Marty & Jaclyn Reiswig
GoodFit Homes (with Keller Williams) - Centennial, CO
Specialty: First-timers

Thanks for the pricing tip, John; I hadn't heard it put that way before. I've only been at this for a year and I appreciate all the advice I can find. And like you, I'm amazed at some of the laziness and incompetence I've seen. I'm mainly in the Aurora/Centennial area, but maybe we'll run into each other one of these days.

Thanks again.

Apr 03, 2012 05:18 AM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Marty- Thanks for stopping by and best wishes for you, I would love to meet for a cup of coffee if you have some time.

Apr 10, 2012 01:10 AM