Wednesday, November 28, 2012

Home Selling Insight

By Fred Eichenhofer, Sierra Pacific Real Estate

Why do some homes sell in days when others take months or don’t sell at all?
 When sellers or their real estate agent overlook any of the important ingredients of a successful sale, a home can linger on the market. Here are 3 reasons why a home doesn't sell quickly:

1. Asking Price is Too High.  When a home first comes on the market, the list price should be at or near the market value so buyers see it as a good value and put in an offer. The first 30 days are crucial! Pricing a house is very important even with low inventory. When buyers do not see the value in the home at the current listing price, or it’s priced far above a reasonable price range for the current market, buyers usually will not look at the house or write an offer.

2. Poor Marketing. Most real estate agents will do nothing more than put the house in the MLS (Listing system). You want an agent that will be aggressive with their marketing especially within the first 30 days. It is amazing how many agents will place a house on our listing system with no photos for days, thereby missing potential buyers that have already viewed the listing (without a photo), drastically losing potential buyers interest.

3. Home is not staged properly. A buyer wants to buy a home they can imagine living in with their family. Get the facts on how to stage your home properly. When buyers walk in the home, they should be able to envision themselves in the house as their new home.
 It is important to hire a Realtor you feel comfortable with, and a Realtor experienced to deal with all of the intricacies of a real estate transaction.
 Many times we see sellers select an agent that said their house would sell at a far higher price than the market would bear, only to sell months later at a price lower than other agents suggested. Be careful not to base your decision solely on an agent that gives you a price range higher than others, or one who will instantly cut their commission…keep in mind the old saying “You get what you pay for”.  There are a lot of expenses a listing agent incurs in order to market your home properly, other agents may not do because of the expense involved.  Lack of marketing to the public is a disadvantage for a seller, as well as initial pricing of a home. Marketing and pricing are very important aspects for a successful sale of a home.

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