We are going on more and more listing appointments with people who are very frustrated by the fact that they have had their house on the market with a Real Estate agent and their home has not sold. Now most people feel that it is the agent’s fault that they haven’t gotten a buyer. In some cases this could be the truth but in most instances it will be the more obvious reason.
We have had people tell us that their agent refused to do open houses or to provide flyers. These things should be discussed up front. This is a very difficult time for everyone and particularly for Real Estate agents. The truth is that open house’s are not as popular as they once were but in my opinion they are still a valuable tool. The majority of people you will receive at open house’s are friends and neighbors but people talk and they may have motivation for their friends or family to buy in their neighborhood. We have gotten a lot of calls from the flyer box, I also think this is a valuable tool but it does involve printing costs for the company but you are either in the business or you are a “discount broker”. We are a full service brokerage so we will try our very best to fulfill our seller’s expectations.
In today’s market some things have changed but the basics are still true. When selling a property, keep these 3 things in mind and you have a better chance to succeed.
1. The available inventory is still staggering. You need legitimate comparables and you need to be in the bottom 1/3 of the price range. If a serious buyer is available and they have a good buyer’s agent then they will have the same comps as you.
2. Ease of showing is imperative. When agents are showing 20 homes in a day they are not going to call Uncle Ned to get the key. Try your best to have a courtesy call and use electronic lock box.
3. Condition of the home is critical. There is so much to compare your house to other properties that if the buyers have to walk around Butch the pit bull then they will quickly cross you off the list.
This is a great market for a lot of people; you just have to have the knowledge to make it work.
I do hope this helps a lot of you frustrated seller’s.
On a side note with the Fed’s taking over Fannie Mae and Freddie Mac, look for the mortgage rates to drop some more. This may create a positive bump in the housing market.
As always thanks for your time.
Jim Bagwell
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