A couple of weeks ago I came across a listing for a home that I have seen exchange hands several times over the years. I looked up the listing and could not believe what I saw. I decided to put together a list of things that you must do when selling your home.
1. Market your listing with at least 10-15 pictures of your home.
This listing had one exterior shot. ONE? In today's technologically advanced market? As a Realtor, we must stay on top of the latest technological advancements, or we run the risk that our clients will think we are dinosaurs. Also, if you limit the photos shown, the average buyers jumps straight to the conclusion that the inside of the house is awful. If the home is not yet ready to photograph, wait until it is before you add your listing to the world wide web. Over 90% of buyers shop online these days. We must give them something to look at and to fall in love with. The only way to sell a house is to get people to walk through the door. If the listing is not enticing enough for them to stop what they are doing, get in their car and come look at the house, then you will not be able to sell your home.
2. Timing your listing launch and open houses.
Time your open house in such a way that it is about 3 days after the launch of your listing. The first open house for the property in question, is not for another 3 days. However, the property has been on the market for 6 days already. That is 9 days on market (DOM) with no showings! You should definitely have some time between list date and first open house (this gives the listing a chance to get some exposure, but 9 days is way too long). If the house is not ready to show, see point number 1 above.
3. Allow your agent to show your home on his/her own.
The listing says that the Owner or agent will show property. The owner was at the broker's open house and at every open house. I am going to guess that he was at all private showings too. I don't care what anyone says, but the owner should almost NEVER show their own home. There are ways to position and market things that only a Realtor will know how to do. The owner is almost always very emotionally attached to their home and you don't want that type of presentation made to a potential buyer. Can you imagine if the seller and the buyer rub each other the wrong way and that is what kills the potential deal? Sure, they could love each other, but the chances of things going south are very good. We always keep the buyer and seller apart until the deal is just about done. Some times, they never meet.
4. Hire the agent that is best and most qualified to sell your home.
Do not hire someone JUST because you are related to them. In this case, the seller made a point of letting me know that his cousin was his Realtor. Hire someone because they are qualified for the job, they love what they do, and you like them as a person. Real Estate transactions are very tedious and complex. You will spend many hours with your Realtor. If you like them as a person, things will be that much easier. The same goes for discounted services. If the listing agent's fee is discounted below what everyone else is charging, then the service is likely discounted too. If you hire a Realtor, it is because you do not have the inclination, interest, capability or time to represent yourself in your home sale. What is it that they say about attorney representing themselves???
Let the professional that you selected do what they are hired to do for you. Stay on top of the market and educate yourself. Does what the Realtor says make sense? Have you spoken to their past clients to see if they endorse that agent? What is their typical number of Days on Market before an offer is procured?
These 4 things were what I noticed within 30 seconds of looking up the listing online. There may be others, but these were the things that I noticed first. By the way, the house did end up going into escrow, albeit after 20 days on the market. In the seller's market that we are in, most homes, if marketed and priced well, sell within the first 5 days on the market. Some go on day 2! This home ended up selling for $200,000 UNDER the asking price.
Want to talk about this blog post or any other Real Estate matter? Feel free to call or email me at 310-963-7384 or Revi@ReviMendelsohn.com .
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