What would you think if you read a headline that says...the average home sales in the US drop nearly 8% from one year ago? Some markets are in double digit decline this is the average!
For most of us a headline like that is very understandable. Day after day we are being blasted with news of foreclosures, short sales, subprime defaults and Realtors telling us sales are down. The truth is the figures show home sales are down...so why would this be a surprise?
Here is the real headline...."Housing Market Sales take a dip...For Most Sellers....but NOT ALL!" OK, who is the "NOT ALL"?
They are the one's selling of course! Now why do some homes sell and others not sell? Lets cut to the chase. Since I have a marketing degree...lots of specialized training I can dazzle you with words, facts and figures or just give it to you straight. You can take it! You see gas prices going throught the roof, so to speak. You see grocery price jumps everytime you go to the store and housing prices are coming down?
The truth is it is a simply supply and demand issue. So then if we know we have more homes for sale than buyers...(Supply (homes) Demand (buyers)) then why do some homes sell and others site for months? Here are the top four reasons. These are not disputable or changable they are the top four reasons. Evewryone is entitled to an opinion but the facts are the facts. Survey after survey have place this reason of not selling in this order....so you can believe them and adjust or you can deny them and not sell....we all have choices.
- Price, for the market
- Condition of property
- Location, where the property is located
- Marketing, the agent and the methods used to sell the property
Price: The home may have been priced close when it was first put on the market but as the market changes so does the preceived value in the buyers eyes. This has nothing to do with real value or the seller's investment. This may be one of the most difficult issues for seller's to understand. Selling is a very emotional issue. The seller has goals that are not the same as the buyer. The seller may have to have a certain amount of money to buy the next property they are looking to purchase...any number of issue but none that impact or are a concern of the buyers! Pricing to the market when you list your home for sale is key to sell fast and for more money. If you wonder how...attend one of my classes "selling fast and for more money", they are scheduled all over Michigan...free to the public. We can believe numbers from news reports...but local markets are very different from national numbers being reported.
Margaret Woda wrote a list of the top 25 Mistakes FSBO sellers and Sellers in general make. I have put a link to her post. It was very well done and if you missed it....take the time to read it. She and her daughter were looking to purchase...(buyers) and the sellers happened to be a FSBO but this could be an inexperienced agent just as easily which covers item four on the list above. http://activerain.com/blogsview/506659/My-Daughter-Made-an
Condition: If your home needs painted and a competitively priced home offering the same or similar features does not...and they are priced the same which one would you buy? You have your answer. If one home has a neatly cut lawn and flowers and the other is shaggy and drab...which one would you buy? You get the point...condition is more than curb appeal. If once some one enters the home and lights need to be replaced, faucets drip and there is a scum ring in the toilets and the competitive home sparkles....which one would you buy?
Locaton: This is one I love to talk about...because location for one may not be the idea location for a different buyer! I just received an offer on a home that is not the ideal location for me...in fact I thought it was horrible. Out in the country on a dirt road...then into a nice little sub-division with 1 acre lots, propane fuel...not for me. But the buyers best friend is only six doors away and they love the idea of living close to each other. Location for shopping, expressway systems, schools, church can all play a role. Even rural location have a draw to certain people. So it is very important to use the location of the property for the buyers it attract and target your efforts.
Marketing: This means different things to different people. Selling is marketing but not in the format I think of as marketing. Brochures is marketing...how they are used and put together is an issue. Cable TV is marketing, Internet listings is marketing...but just on a company website is not enough... I know people will tell me their company website is the top rated site...big deal one site...I place homes on over 25 sites does that improve the sellers exposure? I am sure the combined hits over my site is more than your company website and I have a $100.00 to prove it! Now the only reason I would say that is if I am sure so tread with some caution before you have to send me your hard earned money. I did a links check and hit useage of all the top companies in the US and not one comes close by themselves.
Marketing is the method of exposing you property to buyers and buyer's agents (Realtors). So if you are thinking of listing your home or your listing has expired and you live in Michigan give me a call or drop me an email for a confidential appointment at your convenience to develop a marketing plan specifically to meet your needs and the needs of you family. If you live in another state....drop me an email and I will refer you to a Realtor in your area that is a career professional you can trust to represent your needs.
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