We all know this: listings don’t sell when they’re overpriced. If you’ve had at least ten listings in your career, there’s a good chance you’ve had an overpriced listing and also a good chance you knew it was overpriced when you took it. Most of us have done that at one point or another; after all, most agents know a listing is overpriced the moment the homeowners sign the listing agreement. However, some listings that are priced absolutely right still don’t sell! You can’t sell a house that’s not being shown, so this blog “Seven Reasons Why Your Listing Isn’t Being Shown” explores why buyers aren’t beating a path to the door of your perfectly-priced listing.
1. The curb appeal is AWFUL. Not only is there clutter in the yard, but the house looks dirty and needs to be powerwashed. Most buyers think, “If it looks bad on the outside, it’ll probably look worse on the inside.” A few simple fixes? Getting the powerwash, mulching, and replacing dead shrubs all add instant appeal. You’re competing with properties that look like better choices to the buyer, so get your sellers to step up their game. People don’t want to buy a home that needs work unless it is a SUPER DEAL!
2. The dog. Many people are afraid of dogs regardless of what you say in the Agent Notes, and of course the note in the MLS that says Read the rest of this entry »
Getting the price right is the key to selling anything, including houses, cars, televisions, doughnuts, or computers. What something is worth has nothing to do with what someone is willing to pay for it. Real estate agents need to determine the market value of a home—in other words, what someone is willing to pay for it—which has nothing to do with what the owner paid for it, how much the owner needs, or how much the owner spent on repairs or improvements. In my opinion, the #1 job of both the listing agent and the buyer’s agent is to know the right price for the home for their clients. To help you out, this blog “Crucial Pricing Considerations in the Current Real Estate Market” discusses three critical elements to consider when determining “The Price.”
The Big Three
1. Zillow is perhaps the most popular source of real estate information in the U.S. They now have in excess of Read the rest of this entry »
Developing target markets is one of the most important jobs an agent has. Two of the most promising target markets today in most of the U.S. are first-time homebuyers and neighborhood/geographical farms. Many agents now have both of these targets to go along with a Sphere of Influence (SOI) of at least 100 contacts. If I was teaching a group of new agents, I would tell them that researching, selecting, and developing a target market is the most important thing they can do. I know too many agents who never developed an SOI, a farm, or a first-time homebuyer target market, and I don’t know many of them who were successful for very long.
Time to Get Started
Select the right area. The majority of first-time homebuyers are renters prior to buying, so select an apartment complex to target, preferably one that’s populated by working individuals in Read the rest of this entry »