As a broker, I have the opportunity to sit in many living rooms and tour many homes with homeowners who are interested in selling. Often there is a common thread; they’ve gotten a Zestimate or another online valuation, have watched other homes sell in their neighborhood and have concluded they should be able to sell for just as much – if not more money – than their neighbor.
At a glance, that should be true as long as the home is in similar condition, similar in size and similar in location. Change any of those variables and it could be worth more – or it could be worth less.
Selling real estate is a collaboration between the seller and the selling broker. When the parties work together, the home should sell quickly, without major hassles and for the most money. The seller is responsible to make the home presentable and welcoming, and the agent is responsible for marketing and appropriately responding to all inquiries.
What I’d like to look at today are the four ways to kill a sale.
Make the home hard to show. This is by far the No. 1 reason homes sit on the market for a long time. Realtors, like most humans, will take the path of least resistance. Our first step with buyers is to establish the home search criteria. We address things such as the number of bedrooms, square footage, schools, size of lot, pricing, etc. Then we enter the information into our local multiple listing service (MLS) and get a list of homes that fit those parameters. We glance at the showing instructions; the first homes we show are the vacant ones, second are occupied homes with lockboxes, third are appointment-only homes and last are tenant-occupied homes, which require 24-hour notice. As you can imagine, most buyers find a home from one of the first two groups and may never see your house if you are in group three or four. If you want to maximize your opportunities, make the home easy to show. Address security or theft concerns with your agent so you can minimize risks. If you have an aggressive dog, perhaps it should be kenneled during the selling period.
Make the home ugly. The No. 2 reason homes don’t sell is they are simply in poor condition. Sometimes this is due to lack of maintenance; other times it’s simply housekeeping. You really need to do everything you can to make the home as presentable to buyers as possible. Although you can’t smell the litter box, everyone else can, and it’s a huge turnoff. Please keep the counters cleared, the beds made, clothes picked up, garbage emptied and the pets outside. If you really want to get top dollar, repainting the house in nice neutral colors will pay huge dividends.
Overprice the house. The No. 3 reason homes don’t sell is when they are overpriced. In today’s world, anyone can go online and check homes sales in any neighborhood. Everyone has become an expert. Overpricing will simply remove your house from the buyers shopping list. The best way to draw buyers to your home is to prepare it nicely, keep it clean, price it correctly and make it easy to view. That will allow “market forces” to determine the final price. Keep in mind that what you paid or what you owe on the home doesn’t influence its value.
Hire the wrong realtor. This could have been No. 1 on the list. Realtors and brokers come in all sizes, shapes and talent levels. Just last week I left three messages for an agent, two for her partner and one for her assistant and didn’t get a call back. I doubt the seller knows their agent is ignoring potential buyers. On the other hand, I am thrilled there are hundreds of professional agents who care for clients and protect them as buyers or sellers. If a transaction is simple, and no issues pop up, the lessor agents can muddle their way through. If it gets complex, and multiple issues arise, the outcome will be determined by the competency of the agents involved. This may be your biggest asset, and it should be handled by the most competent person available. You should interview multiple agents and check references. You will be happier in the end. According to the National Association of Realtors, statistics reveal that experienced, full-time agents will net you more money, with fewer hassles.
It’s really pretty simple: make your home as presentable as possible, make it easy for realtors to show, price it correctly and hire the best agent you can – and your results will be positive 99 percent of the time.
Lee Schmidt is the broker/owner of Realty World South County and can be reached at (408) 782-9933 or [email protected].
