Dear Potential Seller:
I noticed your home was on the market and has now expired without a successful sale. Almost twice as many Monroe NY homes sold this September compared to the same time period in 2014, so why wasn’t your home included as one of the successful closings? Here are a few reasons that could have impacted your success.
Pricing: There are currently 152 single family homes on the market in Monroe NY. As can be seen by the chart below, if you now had (for example) a three-bedroom home for sale, there are over 50 other homes vying for the same buyers you are targeting. Was your original list price set to reflect market conditions at the time? Are you reviewing the new homes as they come on the market and changing your list price if needed in response to the ever-changing competition? It’s not only important to price the home correctly in the beginning, but it’s also critical to keep the price competitive throughout the listing period.
Above Monroe NY information from HGMLS, Oct 6, 2015.
Condition: Condition is an important part of the pricing and selling equation. If all other three bedroom homes in your area have refinished hardwood floors, freshly painted walls, and have been obviously well maintained, while your home has stained carpeting, holes in walls, missing trim and more, your price needs to reflect the difference in condition. Also, condition doesn’t only impact price, it impacts a buyer’s immediate feelings about the home. If the front door doesn’t close or open properly, and the bushes in front of the home aren’t trimmed, or the driveway is cracked, the buyer could get a negative vibe before they even go inside. They may think something like “Well, if that’s what the driveway looks like, what did they ignore inside?” In fact, they may drive up your driveway and decide not to view the inside at all. And for those buyers who do venture inside, will they find a home that is show-ready? Is it neat, clean, odor-free and sunny? Making sure your home is “show-ready” inside and out is critical to getting actual showings.
Availability: Were showings allowed as requested, or were there a lot of rules in place about when showings could happen? Often times, buyers have a limited window of opportunity to shop for a home, especially when they are driving into the area just to house-shop. If your home isn’t available to see with a few hours of notice, or is only available for showings on Sundays between 12-3pm, or is only available if you or your agent are free to personally show the home, there won’t be very many showings. Your home won’t sell if buyers cannot get in to see it. Allowing showings at any reasonable time with short notice, and vacating the house when a buyer agent brings buyers over, is key to successful showings.
Marketing: What kind of marketing was in place to help sell your home? Was the description of your home well written? Were the pictures plentiful and professional? Were there “for sale” signs outside and was the home description available in all possible online vehicles? Did your agent conduct open houses or perhaps hold a broker open house? If your home is unique in some way, were other marketing materials prepared? While price and condition and showings are all important, if buyers don’t know that your home is for sale, they won’t come see it.
So, dear Monroe NY seller, if any of the above describe issues you may have had with your previous listing and you are serious about selling your home, give me a call on 914-419-0270 or email me at firstname.lastname@example.org. I will work with you to determine what the issue(s) were, and will help identify the best course of action to get your home sold successfully.
Originally published in ActiveRain.