House Didn’t Sell? Let’s Get it Sold Fast! Presented by Patrick Parker Realty
My House Didn’t Sell Now What?If your house has just come off the market andhasnt sold, dont be discouraged. The reason itdidnt sell may have nothing to do with yourhome or the market. In reality, your home mayhave been one of the more desirable propertiesfor sale. If your listing has expired and you stillwant results, before you put your home back onthe market, take a step back and review yoursituation.Your first step should be to hire a competentReal Estate Agent who gives you honestinformation and advice on price, condition andmarket time, not an agent who asks you whatprice you want or need and says "sign here." How to Hire an Agent Experienced Real Estate Agents treat each Case Study client as though their business depends on the Partnership with Results clients success. Because it does. So when Colby Sambrotto, founder and former chief interviewing an Agent you want to look for operating officer of ForSalebyOwner.com, experience. spent six months trying to sell his luxury New Look for these qualities in your next Agent: York City condo himself through online listings Offers solutions based on previous results and classified ads. He then turned it over to a Real Estate Agent where the two-bedroom Details your custom marketing plan pad fetched $2.15 million. Anticipates problems before they occur The experienced Agent, Jesse Buckler, said he Enjoys solid reputations with other agents told Mr. Sambrotto the apartment was priced too low. It just wasn’t drawing the right Has strong negotiation techniques buyers. Understands the complexities of changing After attracting multiple offers, Mr. real estate markets Sambrotto’s condo went into contract. It Provides statistics and crucial market data closed at $150,000 more than the original asking price – covering well more than Mr. Professionally guides clients through closing Buckler’s standard commission.
9 out of 10 buyers buy withProblem Areas Four Common the help of a What Went Real Estate Agent. Wrong? 1. TeamworkYou put your home up for sale and it simply Your home is a major financial investment, anddidn’t sell. Undoubtedly, this has created a lot of your relationship with your Agent should be astress, inconvenience and anxiety for you and full partnership where your needs and wishesyour family. Perhaps you already bought another are heard, and you receive detailed andhome. Maybe you needed this home sold dependable feedback on the progress of yourbecause of a job change. Regardless of the sale. How well did this occur the last time youreason, it’s certainly a burden! had your home up for sale?The first thing to do is take a step back and 2. Pricinganalyze the situation. Try to assess what factors Did price work for or against you? The "right"led to your home not selling. price depends on market conditions,Review your previous selling plan and youll competition and the condition of your home.discover that an expired listing usually reflects a Pricing it too high is as dangerous as pricing itproblem in one or more of these four major too low. If your home doesnt compare favorablyareas. with others in the price range youve set, you wont be taken seriously by prospects or agents. Youll get the facts when you see the statistics! To help you establish a realistic selling price for your home, ask your agent to provide you with an up-to-date competitive market analysis. CAUTION! 3. Condition of Your Home Say goodbye to any Real Estate Agent Is your house someone elses idea of a dream using old, traditional methods to sell home? When buyers enter are they inspired? Do your home. They just dont work in they think, "I love this house!" Remember, the todays market! decision to buy a home is based on emotion, not logic. It’s a fact that today’s buyers are web-savvy and most buyers search A house that presents well, sells for the best for Real Estate online. price because it outshines the competition. 4. Marketing One of the first steps in your marketing plan involves finding an Agent who will best represent you. When interviewing agents, test and Make sure your Real Estate Agent compare their knowledge and ask each to has sound Internet Marketing demonstrate how they will market your home to experience. buyers. Also compare how much money each spends on advertising the homes s/he lists, in what media (websites, social media, newspaper, magazine, etc.) and the effectiveness of one medium over the other. Its not just how much they spend, but how they spend it.
Brokers who Blog generate 67% The Importance of more leads than those who don’t. Online Marketing How Buyers Find HomesTo be competitive in todays marketplace, Agentswho use new and innovative, non-traditionalmarketing approaches are the ones who aregetting more homes sold fast and for top dollar.Imagine the Internet as a vast ocean ofinformation; standing at the edge and throwing a 85%random piece of marketing about your home inprobably wont do you much good. Yes, yourhome will be "on the Internet" but it will behighly unlikely to be found by a homebuyer. Online Presence = More BuyersA better tactic would be to ask: Where do local 85% of Home Buyers find their next homehomebuyers go online to find homes? An Agent through a Real Estate Agent.who knows how to answer this question is the Real Estate Agents and Brokers who have aAgent who will generate the greatest interest in greater online presence are more easily found.your home. Your Online Marketing Plan Experienced Real Estate Agents know where to go to attract the widest audience of potential, qualified buyers. Ask your Agent for a detailed marketing plan that should include the following Online channels. Entry into Multiple Listing Service (MLS) Listing presence on the Broker website Realtor.com Enhanced Listing exposure Online listings on syndicated websites Extensive Social Media Marketing Company Blog 90%
Pricing Your House The more realistic your price is to market value, the quicker your house will sell. To SellBuyers are Out There... And They Will Come! Competitive Market AnalysisBefore you put your house back on the Market The best price can only be determined by testingremember, a Real Estate Agent can give you up- the market and challenging the competition. Theto-date information on what is happening in the market dictates value based on currentmarketplace and the price, financing, terms and conditions. Only a Real Estate Agent has theconditions of competing properties. tools and resources needed to pull, analyze and apply this data effectively.In fact, a 2011 Home Sellers study reports thatthe median sales price of an Agent-Assisted The Benefit of Right Pricinghome was 27% higher than one for sale by Right pricing clearly works to your benefit byowner. resulting in a premium selling price in thePricing is one of the most important aspects of shortest time. Pricing right means moreselling your home and it requires the extensive qualified buyers are viewing your property, youmarket knowledge that only a Real Estate will not lose money by chasing the market downprofessional can bring. $ and you will avoid the stigma of being a ‘stale’ listing. Obtaining Top DollarA Word About For Sale By Owner (FSBO)Considering going FSBO? Consider this… In 2011, the typical FSBO home in BradleyAnalysts have stated that FSBO’s believe their Beach and surrounding areas sold forhomes should fetch more than buyers are $357,927 compared to $490,308 for Agent-offering. On the other hand, buyers believe Assisted home sales.that FSBO properties are overpriced. This iswhere a Real Estate Agent’s expertise in pricing FSBO Median Sale Priceyour house to sell is invaluable. Agent-Assisted Median Sale Price $ +27% $490K 500K +27% 400K $357K $348K 300K $254K 200K 100K 0K Median New Jersey Home Sale Price Median Bradley Beach Home Sale Price Source: Onboard Informatics, 2011