Monthly Archives: September 2017

‘It’s Been Months and My Home Won’t Sell’—How to Revive a Stale Listing

A house that’s seen minimal movement on the market for months is frustrating. In fact, frustrating might be an understatement. For some, a home that won’t sell can be a desperate situation—especially if selling it was a last-ditch effort to avoid foreclosure. That’s why, if you have yet to find a buyer, it’s important to take a step back and assess exactly why your house isn’t selling. So let’s dive in and discuss some of the main factors that hinder house sales and how you can maneuver your way around them so you can offload your home—hopefully sooner than later.

Ask your real estate agent these questions

If your house has been on the market for months with no offers, the first factor you want to consider is the market. Does the current market favor buyers or sellers? Talk to your real estate agent about the median days on the market in your area for comparable homes. Perhaps things just aren’t moving quickly in the current market. Sometimes, real estate is hot, and other times it’s not.

You can also discuss any showings by your agent or other agents and the feedback given by other agents and potential buyers. Their feedback could help you rethink how you and your agent are marketing the house.

Some other questions to ask your agent include:

  • Is your home listed on your local multiple listing service?
  • Has every inquiry turned into a showing appointment? If not, why?
  • How does your listing look compared with the homes priced similarly?
  • Since the day you listed, what properties have accepted offers, how many days did it take, and what price were they asking?

Reassess your expectations

While you might think your house is a steal of a deal, make sure you’re able to objectively look at the situation, says Beverley Hourlier, a Realtor® with Hilltop Chateau in San Diego.

“The buyer has to perceive the value to be there. If not, no offers. How do you stand up to the comparables in the neighborhood? Be honest in your assessment, because vanity or pride could be costing you money,” she says

Is the price right?

Beyond the temperature of the market and your marketing efforts, the most likely factor when it comes to a lack of offers on a home is price.

“Properties sell when they are priced correctly,” says Tracey Martin, a Realtor with Realty World Premier Associates in Salinas, CA. “The value of your home is determined by what a buyer is willing to pay for it. If it is too high, you won’t get any offers.”

Marketing makes a big difference, too, says Robin Lemmons, a Realtor with Coldwell Banker King in Gahanna, OH.

“If you have had a lot of showings with no offers, it is a pricing issue. If you are having very little activity, it can be a pricing or marketing issue. Is your house being marketed on all the major websites? How is the quality and quantity of the photos?” she says.

How low can you go?

If you determine your home was overpriced out of the gate, then lowering it might help. However, you need to be strategic in terms of just how much you drop the price. You can slash your price by $50,000, but if it’s still above your competition or there are major repairs or updates that need to be done, your chances of selling remain low.

Of course, you never want to lower the price below the amount owed on your loan. Instead of doing that, you should either stay in the property until the value goes up, consider a short sale, or pay the difference between what you owe and what you can get for your home.

Consider new representation

If your agent isn’t responsive or doesn’t have a good explanation for why your property isn’t selling, then you might want to consider a new agent, says Teresa Stephenson, vice president of residential brokerage for Platinum Properties in New York. Just don’t expect a new agent to have the magic solution.

“If you speak with another agent, keep in mind that they are motivated to tell you what you want to hear,” Stephenson says. “If they are telling you that they can get you the price you want, ask them for data to justify their claims. With the transparency and accessibility provided by the internet today, it is a rare circumstance when a real estate agent has exclusive access to any buyers. Buyers know what is out there,” she says.

While it might not always happen as quickly as you like, your home will eventually sell. You just need a strong strategy, a healthy dose of patience, and, let’s face it, a bit of good luck.

Original Source: https://www.realtor.com/advice/sell/why-wont-my-house-sell-after-months-on-the-market/

Original Date: Sept 14 2017

Original Author: Julie Ryan Evans

Qualities of a Professional Realtor

Are you looking to buy or sell your home in the near future?  Having a realtor do this for you is the best option to consider.  Their entire job description revolves around buying, selling, and renting real estate property for clients.  Therefore having a professional conduct your real estate transactions will not place you in jeopardy in the long run.

Expectations of a Good Realtor

Professionalism

With the vast knowledge realtors have in real estate realtors can manage your plan for property sale or purchase. With the experience gained over time, they will adequately handle your contract due to familiarity with the real estate market. The realtor is also responsible for handling paperwork associated with the real estate property in question. The realtor helps his/her client from being deceived into acquiring property with fake documentation.

Negotiation skills

Realtors are responsible for crafting transactions for their clients with consideration to their budget and needs. With cases of extortion of customers buying overpriced property or sell their property at a lower value the realtor, on the other hand, helps in establishing a fair value for their client. Ensuring fairness by their unmatched negotiation skills they will give their client what they deserve.

Vast Backing

The variety of resources a realtor has to offer is so broad that clients will be more than satisfied with their service. The realtor will assist in getting in touch with a bank for a loan, home auditors, mortgage advisors and attorneys in case complications occur in a transaction. They will
also be in charge of finding real estate property best suited for a client by guiding you into what is best in the current market.

Commitment

Realtors take an oath to follow work ethics that enhance fairness, order, and honesty of both transacting parties before being handed their licenses. Therefore it distinguishes a realtor from an agent or broker. The realtor schedules appointments with your potential clients, research about the property verifying all legal requirements. With more than just follow up of your transaction, the commitment of a realtor is with no doubt reliable.

Though getting a realtor comes at a fee, going through the whole transaction alone might lead to various complications in the long run. Hiring a real estate expert with broad knowledge of the market is the best option if you are looking forward to buying or selling the property. Time and
work put in will also be saved.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

What Are Real Estate Agents’ Hours Like?

When you have a home to sell or want to buy a home, you’re probably going to start wondering about real estate agents’ hours. If you’re like most of us and have an even mildly insane schedule—work, kids, you name it—meeting with anyone during normal business hours can be a serious challenge. So how hard is it to find someone who can work around your hours? And what type of hours does a real estate agent keep, anyhow?

Real estate agents’ hours vary

So what hours do they work? The simple answer: Everything depends on the agent. If you’ve looked for houses before, you know that most open houses happen on weekends around brunch time or into the early afternoon. That’s a time frame that most real estate agents expect to dedicate to their clients. Saturday at 8 p.m.? Not so likely.

Still, if your schedule allows you to view houses only on weeknight evenings, there is probably an agent out there who can accommodate you. You just have to look.

The 80-20 rule often applies when it comes to real estate agents, says Lee Dworshak, a real estate agent with Keller Williams LA Harbor Realty in Rancho Palos Verdes, CA.

“Twenty percent of the licensed agents out there are handling 80% of the sales,” she says.

What about the other 80%? They are agents most likely working part time, possibly around their kids’ schedules or a primary career. That means their hours are more limited, although they could coincide with the hours when you are available. Just ask.

Real estate agent Ashlie Roberson of Triplemint tells clients her office hours are from 7 a.m. to 9 p.m.

“That said, a great broker understands that this is an industry where we work around our client’s schedule, and we do what we need to do to provide the best service possible, regardless of what time it is,” Roberson says.

Communication is key

If you know your schedule is hectic, be sure to mention this to your agent before you start working together. Have a frank conversation about how well your times will sync up before you sign an agreement. This will ensure you’re not signing up for months of mutual frustration.

Roberson makes herself available for emergencies occurring beyond her office hours. But she says planning is crucial. So if you need to schedule an early-morning or late-night showing, be sure to bring it up well ahead of time. There’s no guarantee that your agent will be able to accommodate you, but providing notice makes it more likely.

The home you’re interested in buying might be occupied while it’s on the market, Roberson adds. “This just means there’s another party’s schedule you need to take into consideration. So there are a lot of factors that contribute to your schedule.”

To make the process work for everyone, you will need to be flexible, too. Keep in mind that this inconvenience is temporary. A little sacrifice of time now will pay off later. But the good news is, whatever your hours, there’s probably a Realtor who can work with you.

Original Source: https://www.realtor.com/advice/sell/what-are-a-realtors-hours-like/

Original Author:

Original Date: Sept 1 2017