Thursday, October 02, 2008

What should I do if my home is not selling?

When sellers ask us what more they can do to get their home sold, we recommend the 3 P’s – Pricing, Presentation and Patience.

Make sure your price is competitive compared to others in your neighborhood (it also helps if your commission is competitive). The home should be presented well, clean and uncluttered inside and out. Consider whether your photos give the best representation of your property. Finally, have patience. In 2008 inventory has been higher than normal and sales have been lower than normal, and average selling times have climbed from the go-go days of 2003-2006. Your home is exposed on a 24/7 basis to all NWMLS agents and more than 100 websites including the most popular local real estate sites, so buyers can find you if they are interested. Certainly any additional advertising you do on your own can’t hurt, but you may find that it does not add much to the power of the advertising you are already doing through us and the multiple listing service.

The market is tough right now, but sellers who practice The Three P’s find they get better results. Here is a letter we received yesterday:

“Thank you MLS4owners.com for excellent service. This was a positive experience for my husband and I who are first time home sellers. The staff was quick to respond to our questions and provided every thing that the web site promised. We chose MLS4owners as a marketing tool to help us sell my home quickly and it worked! When the ARM on our mortgage reset, we were unable to refinance. We noticed homes were taking months to sell and we could not afford to wait. Because we saved 3% in agent fees it allowed us to list the home slightly below market value (I listed for $10,000 less than comparable homes in the area). This brought buyers looking for deals. We made sure the house was clean, staged, and in good repair. We were careful and made sure the buyers were pre-qualified. Also, we hired a real estate attorney to help with the paperwork. We got two offers with in a week and closed the next month. What a great tool to help sell a property quickly in this terrible market! Kudos to MLS4owners.com!”

We’d like to take the kudos, but this seller was successful because they had ownership of the process and took advantage of the tools available to them. They concentrated on price and presentation, and were fortunate that they didn't have to be patient.

More ideas and customer stories are available on our website. Good luck with your sale!

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