Whoa, doggies! How’d you like that storm? With weather like
that, you’d expect a slow week in the world of real estate,
wouldn’t you? But the wind and rain and lightening didn’t seem to
dampen anyone’s enthusiasm for the business of buying and selling
in San Benito County.
Whoa, doggies! How’d you like that storm? With weather like that, you’d expect a slow week in the world of real estate, wouldn’t you? But the wind and rain and lightening didn’t seem to dampen anyone’s enthusiasm for the business of buying and selling in San Benito County.
There were 16 new listings making a debut on the Multiple Listing Service (MLS) and two re-lists (more about that later). Offers were made and accepted on 15 properties. The contingencies were removed on seven deals, and they are good to go. Escrow actually closed on eight homes.
But the big surprise was this: There were 14 homes taken off the market due to expiration or cancellation of the listing contract. This figure is higher than normal, but not surprising considering the time of year. Buyers often decide to wait until after the first of the year.
But, as we all know, it only takes one buyer in the right place at the right time to get your home sold. Sometimes endurance is the name of the game. But what can you do when your home has been on the market for a long time?
One tactic some Realtors like to use is a re-list of a home. This is done when the property has been on the market for a long time. Some agents and their sellers think the house is getting “stale” and should be introduced as a new listing. However, it is only “stale” to those buyers who have been looking for a long time. New buyers will be looking at it with new eyes, no matter how long the home has been available.
Agents may also re-list a home when a major price reduction has been made. This way, someone looking at the home for the first time will not know the asking price was once much higher. Though most agents feel a price reduction only means the market conditions have changed, and does not reflect poorly on the home, sellers sometimes feel uncomfortable. They are afraid a price reduction will make potential buyers believe they are desperate to get their house sold. (Of course they’re desperate. Anyone with a home on the market who has to keep it sparkling clean and totally straightened at all times is totally desperate, but it’s not necessarily about money!)
Another idea for long-standing listings is a new photograph or description. Your ad copy might portray your home as a three bedroom with a den when the fact you have a corner lot or a deep garage or fruit trees is really the item of interest to a particular buyer.
Sometimes sellers will can their agent and try someone new. This falls under the category of “Don’t Shoot the Messenger.” You can bet your agent wants to get your home sold for you ASAP. Agents pay for sign placement, advertising, fliers, a lockbox, etc. and don’t see a cent until (and unless) your home closes escrow. Be patient.
And be kind to your Realtor!