You want to sell your home, but what’s with the road blocks?
Statistics show that on average, a homeowner is going to put their house up for sale and move every 4 to 7 years. With that in mind, when the occasion arises for a home owner to call their favourite Realtor and list their home for sale, what is their end game? Hopefully it is to sell the home as quickly as possible for the highest price.
But sometimes one has to wonder.
A Realtor deals with home transactions often enough to see the latest pricing and trends and knows what it is going to take to make your home sell. Two very basic things will do it. Exposure and Price. It sounds easy, but in fact it’s not.
How we come up with the price and how we promote the house is the hard part. And this is exactly what we do every day. What are comparable homes in the neighbourhood selling for? What is the marketing campaign for this home going to target?
What we can’t have are roadblocks to the process. But what road blocks are we talking about?
- The most common roadblock is price. Pricing a home tens of thousands of dollars too high will never get the home sold. If the common listing price for a comparable home is $350,000, pricing it at $385,000 because there is a new water feature in the backyard is a surefire way to keep buyers away.
- No sign in the front yard. Not a stellar idea. How does the prospective Buyer know of the intentions to sell if there is no sign up front?
- No open houses. An open house can be an inconvenience to the home owner, but it can also be effective. I see open houses as a game of musical chairs. The person walking into an open house might not find the right fit…but the Realtor might know of a house that is. Just as the open house 3 blocks over might not be the right fit for that Buyer, the Realtor over there might see your home as perfect solution. What goes around…well…goes around. Blocking the opportunity for Buyers to walk through is counter-productive.
- No Office Tour. Most offices hold a bi weekly tour of their new listings for their Realtors . A Seller could see 20 Realtors coming through their home, with each one giving constructive feedback on what it is going to take to sell. It could be price, removing that crazy stuffed moose head from the wall, or tweaking some details. If they are lucky, someone on the tour might even have a Buyer ready and waiting for a house just like this one. I have personally sold a house because of the office tour. Each one of us has a number Buyers that we work with and blocking access to that potential isn’t a route to success.
- Unusual demands. Insisting that the listing Realtor attend all showings brought by another Realtor. Huh? To what end? The other Realtor is a professional, too. What is going to happen? If they are showing the house, there must be some interest, and we don’t want someone else getting in the way of selling the home.
- Unfinished Projects. Git ‘er Done! Few buyers are interested in finishing the undone. It’s a better plan to not start at all than to quit part way in. Many Buyers would rather put in their own ideas than finish yours.
I have seen homes that have put up the roadblocks, stay on the market for well over two years. They’ll go through several very good Realtors, chase the market down and always stay priced $20,000 too high.
If a home for sale has these roadblocks and hasn’t sold, does it really make sense to blame the market? Maybe it’s time to take a different approach.
Ask your Realtor, we have more than a clue.
What’s your end game? Do you want to list your home or sell it? Which statistic do you want your house to be?
When you are getting ready to sell your home, think about your end game. Have you ever tried any of these tactics to sell your home? Let me know in the comments.
And if you are a realtor, let me know some of the roadblocks you’ve seen by sellers who weren’t quite ready to follow your advice.