If Your Property Isn’t Selling, Consider These Expert Tips
By Bobby Freeman, Realtor // June 12, 2014
real estate market watch
ABOVE VIDEO: If your home is lingering on the market without any offers, there could be a few reasons why. As RE/MAX explains in this video, condition, price and location are the three key factors buyers are looking for in a potential property.
BREVARD COUNTY, FLORIDA — A listing agent’s job is to sell a property at the highest price and most favorable terms to the seller.
Some listings sell within one day and receive multiple offers and others may take up to many months to sell. When going on a listing appointment, I focus on 3 main items – staging, marketing and the list price.
If your property isn’t selling… Below are four things you may want to consider talking to your Realtor about.
1. Limited Showings
The best time to get the most interest is right when the listing hits the market. I blast my listings out to all the major websites with many professional looking photos including unique ariel photos, virtual tours, video tours, eFlyers and an appropriate description. If I don’t receive any inquiries within the first 3 weeks or so, there is probably a good chance that the home is overpriced. Inventory is low, so there are buyers waiting for that perfect listing to come new to the market.
2. Comparable homes are selling but not yours
Let’s say your home is getting a lot of showings but no offers. Most listing agents follow up with buyers and buyer’s agents to get feedback. If most of the feedback is that the home is overpriced, well then it probably is.
3. Been on the market for a long time
I also research the average days on the market it takes a comparable home to sell. If the average is 45 days and your home has been for sale for 120 days then it’s probably time to reduce your asking price. Buyers will begin to wonder if something is wrong with your property. Days on market can delay a sale even further.
4. Your home is ‘One-of-a-Kind’
Homes that are very unique, for example – very unusual floor plan, 5 stories with no elevator, 7 bedrooms with only 1 bath, smoke smell, etc… usually can be a bit of a challenge to sell. If your home requires a lot of repairs you can count on buyers more than reducing their offer and using this as a negotiating tool. A good recommendation would be to hire a licensed inspector and make the necessary repairs before you list your home for sale.
ABOUT THE AUTHOR
Bobby Freeman, a life-time resident of Brevard County, has been a top Realtor in the area for two decades. In his first year as an agent, Freeman received a Rising Star award from his Brokers. Since then he has achieved numerous sales awards and has recently been presented with the prestigious RE/MAX Hall of Fame Award.
Freeman, Jennifer McCoy and Nikki McCoy Freeman are family partners for RE/MAX Elite’s McCoy-Freeman Group. Together they have more than 30 years of extensive experience in all aspects of the real estate industry and have sold over $200 million.
Among McCoy-Freeman Group’s achievement are RE/MAX Hall of Fame, RE/MAX 100% Club, Certified Distressed Property Experts (CDPE), Accredited Buyer’s Representative (ABR) and voted Best Realtor in Brevard County.
The group has been featured in many news publications including CNN Money Magazine, CNNMoney.com, WFTV 9 ABC News, Coastal Condo Living, & Hot Retirement Towns Magazine and SpaceCoastDaily.com.
For more information log on to BrevardRealtyConnection.