Selling Your Home
Why Properties Fail to Sell
Drive through any neighborhood or search online in neighborhoods that have homes for sale and you will find the same thing. Within the same area there are homes that are selling while others sit, sometimes for months without selling.
The number one variable that determines whether a home will sell or sits is the demand that is created for the property. A real estate agent's primary objective should be to create much demand for the property in order to not only generate an offer, but to also sell for the highest possible price.
In order to create demand for a property. There must be a specific written marketing plan for that type of property. If there is not a specific plan for the property, the agent is probably using a one-size-fits-all approach. This is ineffective because it's relying on luck to generate an offer. Think about the hundreds of different types of properties that exist in your market right now, there is a different type of buyer for each one. Simply putting a property on the MLS and hoping it sells is like getting in the car and driving for hours and hoping you end up where you wanted to go.
In the absence of an effective marketing program, many agents will turn to lowering the asking price is a strategy to sell. While lowering the asking price will typically generate more interest, it also impacts the bottom line, which is the seller’s biggest concern. In short, if the only marketing plan an agent has is solely based on pricing; the only one that wins is the agent.
Selling for the highest price possible requires that you hire an agent with a proven track record of selling properties like yours, along with a written marketing plan. If you start there, the agent will help you determine what the best pricing strategy is which will allow you to sell for the highest price possible in a time frame that works for your plans.