Have you ever wondered, why, some houses, sell quickly, while many other, similar ones, seem to sit, on the market, for a considerable period of time, and/ or, fail, to sell? As a Real Estate Licensed Salesperson, in the State of New York, for nearly 15 years, I have come to recognize, and try to convey, to my clients, there are, at least, 7 potential reasons, why this happens. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, these possibilities, and some ways, homeowners, can use this information, to enhance the potential results, and ease, the overall, real estate process.
1. Price: Never under – estimate the effect, pricing a house, right, from the start, makes, in making this process, go smoother, easier, and far more effectively. Unfortunately, some homeowners, hire overly optimistic, real estate agents, and/ or, fail to accurately, understand, the accurate value, of their home! In the vast number of instances, houses garner their best offers, within the first few weeks, they are offered, on the market. If one, over – prices this listing, we end up, seeing, fewer offers, and, the homeowner, ends up, suffering!
2. Location: After pricing, selling a house, is, often, about, location, location, location! Some locations, whether, related to region, area, schools, safety, conveniences, etc, are more popular, and in – demand, than others! It’s important to consider this important consideration, when pricing a house, for sale!
3. Marketing: Choose the real estate agent, you hire, carefully, and fully discuss, the marketing plan, and emphasis, as well as the reasoning, and rationale! When a house is marketed, effectively, it generally attracts, the most relevant, appropriate, potential, qualified buyers, view it, etc.
4. Follow – up: Once the first 3 steps, are carefully used, considered, and followed, how one follows – up, on leads, as well as those, who have viewed the property, may make a world, of difference!
5. National economy: Consumer confidence, the feeling of job security, interest rates, inflation, etc, are all relevant factors, which must be taken, into consideration!
6. Local market/ considerations/ competition: It’s important to know your competition, and be prepared, by properly pricing, marketing, and making your house, easy, to view! In addition, local economic considerations, are, sometimes, different, from national ones!
7. Know the positives and negatives: It’s important to know, and understand, all the positives and negatives, related to a specific home! What are the strengths, and the weaknesses? Be prepared!
When a homeowner is informed, and prepared, the real estate transaction period, often, goes more smoothly! Are you up to the task?