Today, we are in a seller’s market in the real estate industry, unlike even a year ago, when the market was still recovering.
Inventory is very low and buyers are often getting into a multiple offer situation. Many times, sellers are being offered above asking price and getting it. The interest rates are still very affordable so if you are contemplating buying, do it now.
If you are motivated to sell, find the right agent who will listen and learn about the features and benefits your home offers. But then listen to him in his determination as to how he derived at your selling price. When you tell your family or neighbors what your agent stated it should sell for, everyone becomes an expert. The plumber down the street told me, “I should get $10,000 -$20,000 more than that.” They may be the best in their own trade but it’s your real estate broker that knows best. Listen to your agent and the comparables he used to determine your home’s value. Your broker is the real estate professional, not your neighbor.
When your home has been on the market for an exceptional amount of days and has not had a lot of activity, it is time to reassess your selling strategy. Is your agent doing enough to move it?
Make sure there are plenty of advertising opportunities and plenty of broker/public open-houses that are happening. When all else fails and your home isn’t selling in a reasonable amount of time, then it comes down to the price.
After your property has been shown many times and hasn’t had an offer, it becomes stale and active agents will not show it because they already know what to expect. Some sellers believe that by waiting and not accepting a previous lower offer, it will bring them a higher offer. It is possible, but usually it is the exact opposite.
The amount of days your house is on the market is your enemy. If you are not getting a lot of activity in this sellers’ market, it is a solid indicator there is something wrong and time to re-think your strategy. Listen to your agent and it will sell. Listen to your agent and it will sell. Once again just to reiterate the point - listen to your agent and it will sell. Did I say that three times? Yes, I did because your agent is the professional.
He or she will come back with a winning idea and you will be on the road to selling your home.
Remember, your real estate agent should always guide you and work in your best interest to get your home sold. Good luck with the sale of your home.
Richie Vraux is Top Producer and Broker/ Realtor® for RE/MAX who has been a Real Estate Professional for more than 20 years. Put his real estate expertise to work for you. Whether you are buying or selling. Richie can be your guide. Call Richie for a free real estate consultation at 207-317-1297