What are the factors that determine if a house is marked SOLD or EXPIRED?
Every homeowner that puts their house on the market to sell expects to see a SOLD sign soon. There are hopes and dreams and plans that depend on the SOLD sign. Moving to a new location. A new job. Closer to the kids or grandkids. Closer to the lake for boating and fishing. Closer to the beach or mountain. All dreams awaiting to become reality.
So what are the factors of a SOLD or EXPIRED listing? How can I make sure my home goes into the SOLD Column? We are all aware the biggest factor is location. If you are in the location of the decade your home will probably sell quicker than a similar house 3 miles away. But, our home is where it is. I can't change the location.
The next largest factor, and some say its actually first nowadays, is PRICE. Is my home priced right? I don't want to give it away... I put in extras. No one expects you to give away your home. But, are you at the market price?
Take this example: at the supermarket we are seeing a market price on vegetables for instance. Is the lettuce crop abundant this year? Did the farmers get enough rain? Is there a drought? All these things effect how much we will pay for our lettuce. Are the farmers seeing an over abundance of lettuce and can't recoup their costs of production? Then the pendulum swings in our (the buyers) direction and we get exceptionally good buys. But if we are the farmer, we lose money.
This is an overly simple way to look at your home for sale. Did I buy when it was cheaper and can afford to sell it now? Did I buy at the maximum price and will I be expected to lose money? Somewhere there is a middle ground. Is now the time for me to sell? (this is not to discount those people who are at the mercy of jobloss or other economic factors)
There are many places in our country today that are not being hit with the massive foreclosures and short sales we see touted on the media daily, NOT every seller is underwater or in distress or lives in an area of distress. I am speaking to those who are not in that category. But, I digress, let me proceed back to what takes me from FOR SALE or to EXPIRED?
Most of the homes I see on our MLS that are EXPIRED, most are due to pricing issues, sometimes to condition. But if the price was aligned with the condition, there would still be no issue with condition. Another factor in todays on line world of marketing your home is the photos that are displayed. Or the lack of photos and the quality of the photos.
Photos are the showcase for your home. This is how that person looking on line will get that first glimpse of your home, (yes, 80% of all buyers start their search ON LINE, thats a National Association of Realtors statistic) . This is where many buyers will rule out your home. Over, done, period end, they will not even get past the pictures. Folks believe me I have seen this happen over and over.
I have viewed numerous listings on line with only 1 picture from the street. Or how about those photos that the rooms are dark and shadowy? Are those the view of your home you are wanting the buyers to see? Buyers want to see clean, uncluttered nicely staged homes. While no one expects a furniture store display in each room, each room can be made more presentable with decluttering. Oh I know that your ballerina collection isn't clutter. At least to you it isn't. But, do you want that buyer to remember the ballerina collection or the beautiful master spa suite? or the awesome kitchen with the built in cherry cabinets?
So here are a couple of great instance that will take your home from the FOR SALE to the SOLD and not leave you in the EXPIRED listing and dreams gone awry column. Talk to a PROFESSIONAL REALTOR and together get the results that will out your home in the SOLD column.
CALL ME AND LETS GET YOUR HOME IN THE SOLD COLUMN. GAIL TASSEY 512-217-9482
You are right on. I talk to a lot of home owners who have had their homes listing expire and they all wonder why. Price is a big issue, condition is another, but I find the biggest is the lack of exposure. It is amazing that there are so many Realtor now days still feel all they have to do to sell a home is put a sign in the yard and list it in the MLS. Boy is that wrong. You really have to have aggressive and professional marketing. That begins with professional photos but goes much deeper with knowledge of how to market on the Internet. It is a shame more Realtors really do not understand marketing. They will have to learn or get out of the business.
thanks for the comment, your right, we must do more in marketing or we will be left by the wayside.
Great Post Gail! Pricing is by far the most important thing in terms of getting a home sold.
Gail, you are absolutely right. We can never preach enough about good photos out there on the internet. Everyone shops the internet and we've got to stay up with the shoppers. And price it right!
What a great post -- hope everyone reads it. It's the tried and true items, and they so often get overlooked. Thanks for the timely reminders, here.
Jake thanks for taking the time to comment. I find pricing is where most people aren't "getting it" yes prices are down. Is there still a profit to be made? yes often on the other side.
Barbara, if I had an MLS petpeeve.. it would be WHY 1 PHOTO? A person when and took that one.. why not more than one? How hard is that? WHat are you getting paid for? and so on......
Loking at the prospects of moving your home from the status of "for sale" to "sold" depends on many factors part of which have been highlighted in your comments. But, the crux of the matter is the flexibility of purpose, to consider among others, compensation, timing, and of course, the pricing, which we make coming into terms with the economic reality of our times, to make an informed decision.
Li, thanks for stopping by today, and your comments, yes, oh yes, its the tried and true for sure.
Eben, yes a seller must have the information for an informed decision, as must the buyer... not just in todays toward spiralling market but in every market. Thanks for stopping in today. :)
I have a listing appointment on Saturday. And if he isn't willing to repair the dock and deck and price right then he can call someone else to list. And I agree, a house should be priced correctly in any market.
HI tammie, goodluck with your listing appointment. Price will overcome almost any objection. Its the overpriced listing that are harmful to the seller and the market.
Gail, what are your tips for posting good photos. Do you take your own?
Jay
Gail, Right on! THere is no hope of selling if buyers do not look at your home. Show them the home with photos on the computer!!!