Your first thought when you read that headline maybe..
..
What do you mean? "Everyone who puts their house on the market wants to sell it!" Well my friend that has not always the case ..
..
You see from 2004 to 2006 the market made your decision really easy.
All you had to do was hire a real estate agent with a heart beat, find out the price of the last house that sold in your neighborhood add 20% to your price, stick a sign in your yard and have the agent post it on the local MLS (multiple listing service) and wait for your phone to ring..
...
It was much more like fishing than selling real estate! Heck, in some markets the biggest problem for the agent was how were they going to handle a multiple offer situation.
I can recall when those where referred to as a real pain in the rear end! My how times have changed! I don't need to tell anyone times have changed..
..
all you have to do is pick up a newspaper or turn on the nightly news and they will remind you of that real quick..
..
Gone are the days of the " If it sells or not its no big deal.
" or "We're not in a hurry" or my favorite..
..
"If someone wants to give us our price...
we'll sell.
" See there are a bunch of circumstances that have happened outside of our economy (the largest factor) that I feel added to the current problem...
I could start telling you about how this is really a lending crunch and its the Banks that have gotten us in this tough market or I could tell you that there are all these people who bought on spec and they are the real problem here..
..
I could even try and convince you that it has something to do with gas prices.
Doesn't everything? But I feel that the underlying problem is pricing..
...
yep pricing! Incorrect pricing has allowed housing inventory to climb to an all time high..
..
There are more houses on the market right now than ever before..
..
Heck, if the builders stopped building houses tomorrow morning it would still take many market 2-3 years to eat away at the large inventory that has been produced over the last couple years.
Here is a simple fact...
Well priced homes sell.
Period! Some of you maybe saying "well we have our house listed for almost what we paid for it and it has not sold" well if that's the case I have some real bad news for you..
...
You paid too much! See because of the information age and the access of information that is at your finger tips (the computer you are staring at right now) The home buying crowd has become a knowledgeable group of people...
there are way to many choices out there for them to make right now..
..
and they also know value when they see it.
A COMMITTED SELLER (yes those two words are in all caps for a reason) must first start with price..
..
and once a real "value based price" is set then they must really commit...
If they say things like this..
..
..
...
"lets just price it at X and see if we get an offer" They are not committed...
"we don't want a for sale sign in our yard" They are not committed..
..
"we need 24 hour notice to show the house" They are not committed...
"please don't put it on the MLS" or "we don't want our neighbors to find out" They are not committed...
So if you are an agent that is reading this I challenge you to make sure that your sellers are committed to selling..
..
Have the tough conversation with them early..
..
Instead of having to deal with an expired listing in 6 months because the price was never right and your seller was not committed to sell in the first place.
If you are a seller reading this who is considering putting your house on the market.
PLEASE decide right now if you really want or need to sell and first establish a good price.
A good price is not always what you think your house is worth...
its most likely much less.
A good price is what you would spend your hard earned money on to buy the house again..
..
The last thing any market needs right now is more overpriced inventory..
..
First decide(commit) if you are going sell your house..
...
Then price it right..
..
..
(if that takes getting an appraisal...
do it) That is all I have for you today.
In the coming weeks I will be giving you tons of other tips that will help you sell your house in 45 days or less in any market!
..
What do you mean? "Everyone who puts their house on the market wants to sell it!" Well my friend that has not always the case ..
..
You see from 2004 to 2006 the market made your decision really easy.
All you had to do was hire a real estate agent with a heart beat, find out the price of the last house that sold in your neighborhood add 20% to your price, stick a sign in your yard and have the agent post it on the local MLS (multiple listing service) and wait for your phone to ring..
...
It was much more like fishing than selling real estate! Heck, in some markets the biggest problem for the agent was how were they going to handle a multiple offer situation.
I can recall when those where referred to as a real pain in the rear end! My how times have changed! I don't need to tell anyone times have changed..
..
all you have to do is pick up a newspaper or turn on the nightly news and they will remind you of that real quick..
..
Gone are the days of the " If it sells or not its no big deal.
" or "We're not in a hurry" or my favorite..
..
"If someone wants to give us our price...
we'll sell.
" See there are a bunch of circumstances that have happened outside of our economy (the largest factor) that I feel added to the current problem...
I could start telling you about how this is really a lending crunch and its the Banks that have gotten us in this tough market or I could tell you that there are all these people who bought on spec and they are the real problem here..
..
I could even try and convince you that it has something to do with gas prices.
Doesn't everything? But I feel that the underlying problem is pricing..
...
yep pricing! Incorrect pricing has allowed housing inventory to climb to an all time high..
..
There are more houses on the market right now than ever before..
..
Heck, if the builders stopped building houses tomorrow morning it would still take many market 2-3 years to eat away at the large inventory that has been produced over the last couple years.
Here is a simple fact...
Well priced homes sell.
Period! Some of you maybe saying "well we have our house listed for almost what we paid for it and it has not sold" well if that's the case I have some real bad news for you..
...
You paid too much! See because of the information age and the access of information that is at your finger tips (the computer you are staring at right now) The home buying crowd has become a knowledgeable group of people...
there are way to many choices out there for them to make right now..
..
and they also know value when they see it.
A COMMITTED SELLER (yes those two words are in all caps for a reason) must first start with price..
..
and once a real "value based price" is set then they must really commit...
If they say things like this..
..
..
...
"lets just price it at X and see if we get an offer" They are not committed...
"we don't want a for sale sign in our yard" They are not committed..
..
"we need 24 hour notice to show the house" They are not committed...
"please don't put it on the MLS" or "we don't want our neighbors to find out" They are not committed...
So if you are an agent that is reading this I challenge you to make sure that your sellers are committed to selling..
..
Have the tough conversation with them early..
..
Instead of having to deal with an expired listing in 6 months because the price was never right and your seller was not committed to sell in the first place.
If you are a seller reading this who is considering putting your house on the market.
PLEASE decide right now if you really want or need to sell and first establish a good price.
A good price is not always what you think your house is worth...
its most likely much less.
A good price is what you would spend your hard earned money on to buy the house again..
..
The last thing any market needs right now is more overpriced inventory..
..
First decide(commit) if you are going sell your house..
...
Then price it right..
..
..
(if that takes getting an appraisal...
do it) That is all I have for you today.
In the coming weeks I will be giving you tons of other tips that will help you sell your house in 45 days or less in any market!
Source...