Why Won't It Sell???

"Why won't it sell?"  "How much longer before we get an offer?"

We've all heard horror stories about homes that seemed to be "perfect" or at least "move -in" ready that have sat on the market forever.  I'm sure you thought, well there must be something wrong, after all it's a great house.  The seller's don't understand either.  Their agent keeps telling them, "Sorry, no one is calling."  When they hold an open house, almost no one shows up.  Where are all the buyer's you keep talking about Agent A.  Why isn't it selling?

Any ideas what might cause this? Anyone,  I'll give you a hint.  PRICE!!!!  The list price makes it or breaks it, bottom line.  If the property is priced too high for the market and conditions, the Market will answer with silence.

Statistics show that correctly priced homes sell, and sell faster.  Overpriced homes sit on the market forever, undergo several price reductions and finally sell for far less than they were listed for.  This process, by the way, really annoys the sellers..

How do you avoid this?  Price the property right.  It's as simple as that.  When you interview agents for your listing, make sure you ask the right questions.  You are interviewing more than one agent, right!  You should be, just like a doctor or lawyer you want to make sure you have the right match. Here are some sample questions for that interview:

1.  What is my market (Your particular area/neighborhood) doing right now?  Is it moving or is it stagnant?

2.  Where did you get your comparable sales from, how old are they and how comparable are they to my house?

3.  Based on the answers to 1 and 2, where should my home be priced in order to make it attractive to buyers?

4.  How can I help you market my property to sell quickly and for the best price?

Now, I know we all want a certain amount for our home.  Heck, we put our blood, sweat, tears and hard earned money into it.  But, the reality is the market is a heartless beast.  It decides how much the house will sell for without a thought to any of our feelings.

So, when you interview your realtors, try to stay calm when they tell you how much your home is worth.  Take a look at how well they have prepared and how close the comps are to your home, in features, location and amenities.  Then discuss the price, based on the comps.  If they have prepared and the comps are very similar and current, the price they are giving you is probably pretty darn close.

Once you have picked the agent and listed the home at the correct market price, sit back and watch the action!  If your really lucky you will end up with multiple offers to choose from.

If you are thinking about selling or buying, give us a call.  We would love the opportunity to earn your business.

Let's Talk soon

Curtis

The Hurst Agency
Curtis W Hurst, Realtor and CEO
888-518-3339
curtis@thehurstagency.com
WWW.TheHurstAgency.com