Why Hasn't My House Sold? It's Not Always The Price!x=

By
Real Estate Agent with Evers & Company Real Estate, Inc. AB95346

A few years ago, I was approached to be the third agent for a stately colonial on upper 16th Street.  The first two agents had the distinction of being the guys who ranked number 1 and 2 in dollar volume in DC.  I'm nowhere close.

I reviewed the prior listing information.  The price didn't look bad.  Neither agent had made the place particularly easy to show - I hadn't been inside during either listing period.  Then, when I got inside, I quickly figured it out.

 The owners had been in the Foreign Service for decades and had lived and worked all over the planet.  And there was some amazing art work on every surface in the house - floors, tables and walls.  

In the living room, on the first wall you saw upon entering the house, they displayed a huge collection of ceremonial masks.  They were beautiful, but awfully distracting, and some of them (the ones made to ward off burglars) were probably a little menacing to buyers crossing the threshold.  Then there were paintings and sculpture that was just distracting.  Also, I imagined that the owners were reluctant to allow a lock box on the door of their little domestic museum.   

So, my advice was to pack up almost all of the artwork and put it into storage.  They did.  They painted the living room and refinished the floors on the lower level.  

I listed the house without any price reduction.  Within a week, we had a ratified contract.

Now, sometimes it really is a price that's too high, but once in a while it's the ceremonial masks! 

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Topic:
Real Estate Sales and Marketing
Groups:
Realtors®
Stage It Forward...
Tags:
marketing
staging
pricing
pat kennedy
washington dc real estate

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Rainmaker
639,790
Marchel Peterson
Spring TX Real Estate E-Pro
Results Realty
Patricia, you are SO RIGHT, those ceremonial mask will keep them away.  Especially when it is included with lots of ceremonial clutter.
March 31, 2008 10:07 PM
Ambassador
592,506
Roland Woodworth
Short Sale and Foreclosure Resource- SFR - Clarksv
Keller Williams Realty

Patricia.... Your title saud it all..... Price may be great and the home still not sell as there are many things besides price that must be in order

March 31, 2008 10:24 PM
Rainmaker
312,527
Carol Culkin
Overland Park
Reece & Nichols

Scary masks! Well, you just reminded me - I am putting together a deal on one of my listings which I have been trying to get my client to clean up. In discussions with the other agent today, she refered to it as the "money tree house"...the light bulb went off in my head when she said this and I realized that I need to stop by for a photo - in a few days I will be blogging about "The Money Tree House" - look for my post! First, I need the photo.

March 31, 2008 10:40 PM
Anonymous #21
Anonymous
Anonymous
Pat - Well stated and great outcome!!  I bet the prior agents had their heads spinning wondering how you did it.
April 01, 2008 03:52 AM
Ambassador
1,651,899
Barbara-Jo Roberts Berberi
Palm Harbor Florida Residential Real Estate
Charles Rutenberg Realty
SUPER job on your part! Reminds me of that castle down in the center of South Florida that I posted about a few months ago!!!!
April 01, 2008 10:35 AM
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Patricia Kennedy

For Your Home in the Capital
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Additional Information

Pat Kennedy -- author of The Irreverent Guide to Real Estate -- gives you a look at life on the streets as a real estate broker in our nation's capital. And her blog is peppered with great advice combined with humor!