June 19, 2018Mortgage rates are on the rise. Could that derail sales? According to First American’s Potential Home Sales model, even if the 30-year fixed-rate mortgage rose to 5 percent, the
18 Reasons Why A Property May Not Sell
By Richard Eimers
1. Pricing home too high – have a professional determine comparable sales.
2. Small repairs bring big profits and fast sales -- have a professional give you low-cost solutions to minor repairs that will yield big profits.
3. Not considering other financing terms (besides cash) -- have a professional give you options that may be better than cash for you, the homeowner.
4. Market Timing -- have a professional determine if the market cycle is poised to net you the most money. At least, ask to be shown how you make profits in a down market.
5. Providing easy access for showings -- there are many ways to show a home. Appointment only is the most restrictive; lock boxes are the least restrictive -- have a professional help you determine which is best for your lifestyle.
6. Staging your property correctly -- can you put items in storage? Create more light or music? Walter can help you!
7. Choosing the right Realtor® -- your Realtor® unfortunately can’t tell you how to solve this, but you can call me for a list of probing interview questions to ask each one.
8. Believing that selling property is seasonal -- don’t base selling decisions on the seasons. Property is always selling. In fact, in the traditional “off times” there is less inventory, and, therefore, more activity on the remaining property!
9. Pricing home too low -- one reason to hire Richard is to make sure that no money is left on the table.
10. Not using current marketing technology -- make sure your agent is on the “Information Highway” with 800 interactive voice recognition systems, web sites, search engine technology, and the latest in buyer communications.
11. Re‑evaluating the marketing plan every 10 days -- the market, you, and your real estate require intuitive changes to the market and buyers on a regular basis. That is why we schedule a meeting with our clients every 10 working days.
12. Believing the agent is not doing the job -- when there aren't any offers did you know that 80% of your buyer activity comes from signs and the MLS? Even the most mediocre agent does that! If you have lack of showing problems, look at the price.
13. Ignoring first impressions from the buyer -- sales have been hampered by un-kept lawns, cluttered closets, unpainted front doors, hard‑to‑work locks, dead light bulbs, bad colors, stains, unlit areas, and bad smells. Spend time on the little things, double up on your gardener, keep things cleaner than usual and "marshal" the pets.
14. Not giving the sales effort enough time -- you should never give too little time to something that is inherently a long process. Estimate the time you have to sell and then add some time so that you are never put in the position of having to do something based on deadlines. Walter can help you with the average time on market in your area and price range.
15. Dealing with unqualified or unsavory characters -- one of the best reasons to hire a real estate professional is that they have the ability to pre‑qualify a prospect, financially, before valuable negotiation time is lost. More importantly, they have the tools to discover if a prospect's motivation to see your home may be other than purchasing a house.
16. Believing you are powerless to make a difference -- the top agents in the industry report that sellers themselves are responsible for 1 out of 10 sales! You can network with your business and personal friends, hand out flyers to your personnel department, and keep the house "ready to move into." Your professional real estate agent should be ready to hand out all sorts of easy assignments to make the "team effort" successful.
17. Testing the market -- never put your property on the market unless you really want to sell! Get ready for a professional sales push if you list with a great agent. If your plan harbors some indecision, be prepared for frustration because success is Walter's objective.
18. Not setting up expectations with your agent – your agent needs to guarantee how fast the return phone calls are made, how many websites your home will be on, numbers of showings, and a myriad of other goals – all in writing!
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