Homes Don’t Always Sell Fast

By
Real Estate Broker Owner with Island Style Realty Inc. RB-19250

Selling a home can be quite a stressful process for sellers.  Many homes are on the market for months and sometimes longer.  Sellers need to maintain their home in showing condition during that period.  That can be a big burden while trying to live their lives. They are paying mortgage and can’t finalize their future plans until it sells.

Homes may linger around for a couple of reasons.House

A)      Failed marketing.  It may be one or more of the following.

  1. Over priced
  2. Now showing well
  3. Not properly advertised (MLS, Internet, virtual tours, flyers, open houses, etc.)
  4. Hard to show
  5. Bad neighbors
  6. Poor location
    1. Next to a pig farm.
    2. Not convenient to transportation, shopping or schools.
    3. Across from the sewage plant.
    4. Surrounded by industrial properties, etc.

(Items 1 through 6 - can be overcome with a lower price.) 

A)      Changing market conditions.

  1.  Short sales and foreclosures in the area.
  2. Bad economy (increasing unemployment in the area, etc.)
  3. Prices falling
  4. Surplus inventory

       (Items 1 through 4 - can be overcome with price)

In the end there are many variables you have to deal with, when selling your home.  The price is the great equalizer.  Any home in any condition can be sold in one day at the right price.  The question for sellers is, “How close to the one day price do you want to be? “

By properly marketing the home and having it better prepared (repairs and upgrades completed and the home staged), along with making it easy to show; the home will sell faster and possibly for more money.

If the home is not selling after being for sale for a long period of time, the market has rejected your home at that price.  Buyers are able to find another home at equal or above condition for a better price.  In some cases sellers hang on too long to their price because they are either convinced their home is worth more than buyers are willing to pay or because they need to hit a certain price.  In a some cases the home is not being properly marketed.

Tips for sellers:

  • Get a top full time Realtor® who specializes in your area.
  • Listen to your Realtors® advice for getting your home ready, pricing and marketing strategy.
  • Be prepared to adjust the price after it has been on the market a period of time.
  • Remember time is money.  If it is not selling, you are paying carrying costs. (Mortgage, utilities, taxes, insurance, maintenance, etc.)
  • Have reasonable expectations and plan accordingly.  If the average sale time in your area is X number of days and you want to sell faster than that, you have to do something to make your home a better deal than those you are competing with.
  • If on Oahu call me for a free consultation.  I would be honored to evaluate your home and present you a marketing plan for your home.

Good Luck and Happy Home Selling!

Posted by

 

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Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

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Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Cheryl Willis 09/06/2011 12:32 PM
  2. Celeste "SALLY" Cheeseman 09/06/2011 01:01 PM
  3. Eric Kodner 09/06/2011 03:26 PM
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Comments 26 New Comment

Ambassador
1,756,855
Jeff Dowler CRS
Carlsbad CA Homes for Sale (760) 840-1360
Solutions Real Estate

Randy

An excellent list for including in a pre-listing package. Speaking of pig farms, there was one in a rural area near where I lived back east and a developer came in and build a bunch of new, and expensive, homes. Some buyers later demanded the pig farm be removed. Didn't happen. It was there first and they knew it when they bought. But it made for great gossip in a small town.

Jeff

September 06, 2011 11:59 PM
Rainer
40,932
Michael L. Brownstead
GRI, REALTOR
Ebby Halliday Realtors®

Randy, you said it perfectly, I hope sellers take a look at your posting. Thanks again!

September 07, 2011 07:11 AM
Rainmaker
617,627
Randy Prothero
Hawaii REALTOR, (808) 384-5645
Island Style Realty Inc.

Karen – I have seen more than a few.

Leondra – That sometimes is enough to motivate sellers to remove the negatives.

Linda – There is a buyer for every home at the right price.

Mary – What I say is it is the price for this home in this condition and this day.

David – That is what they are paying us to do.  Shame on the agents with no pictures!

Gregory – Was that the listing that has been on the market for 12 months?  LOL

Sharon – It even works in other countries.

Tammie – It will sell if priced right.  The problem is generally that the seller wants as much money as the homes not next to the pig farm.

Jeff – We had the same problem when they built a school next to the pig farm.  The flies were so thick the youngsters could eat their lunches.

Michael L. – Thank you

September 07, 2011 12:05 PM
Rainer
135,128
Margie Kopp Sorrell
Lake Oconee Real Estate
Coldwell Banker Lake Oconee Realty and Lake Country

It's a waste of their time and ours if we sugar coat or allow them to convince us that their home is worth putting it on the market for more than it's worth or for more than it will sell for. I'm getting better at noticing those who are serious sellers and those who aren't!

September 15, 2011 11:23 AM
Rainmaker
617,627
Randy Prothero
Hawaii REALTOR, (808) 384-5645
Island Style Realty Inc.

Margie - I tell sellers that I would rather give it to them straight upfront, than make a bunch of lame excuses three months from now as to why we can't sell their home.

September 16, 2011 10:50 AM
Rainmaker
617,627

Randy Prothero

Hawaii REALTOR, (808) 384-5645
Ask me for a free valuation of your Oahu Home.
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