In a buyer ’ s market where there ’ s plenty of inventory , buyers gravitate to the listings with the most competitive prices . If prices are flat or falling , buyers usually won ’ t make offers on over-priced listings for fear of overpaying in a declining market . We should analyze your entire marketing program , including the list price , and set a new strategy . If your price is too high for the market , reduce the price enough to have an impact .
You may have to improve the condition of your property AND make a price reduction . If so , make cosmetic improvements before reducing the price . After the home is fixed up , reducing the price should generate more response . It ’ s often difficult to get agents back to look at a home that has been on the market for a while . A cosmetic face-lift combined with a price reduction ought to generate new interest in your home .
WHY SHOULD SELLERS BE ABSENT DURING SHOWINGS ?
If only there were a way to sell your home without letting all those people come through . Unfortunately , the reality is that homes must be shown in order to be sold . Also , few buyers commit to purchasing a home without first spending some time there . Some Buyers need to spend a lot of time in a home before they decide to buy it .
Most experienced agents recommend that sellers vacate their home when it ’ s shown to prospective buyers . This is usually inconvenient for sellers , but there are reasons why it ’ s best for sellers to be gone when their home is shown .
• Ambivalence , or the approach-avoidance syndrome , is a major theme in many home buying sagas . Here ’ s how the scenario often plays out : A great listing comes on the market . A Buyer sees it , falls in love with it and seriously considers buying it . Then the buyer gets nervous about making a commitment , has second thoughts , decides against it and moves on to other listings .
• Before deciding to buy a home , buyers often must go through the process of picking the place apart . They need to look in every closet , nook and cranny . They need to discover everything they don ’ t like about a home before they can make a decision to go ahead and buy it .
• Most buyers won ’ t scrutinize a home in the presence of the sellers . Buyers are often too embarrassed to look inside closets if the sellers are home . They may hate your green carpet , but they ’ ll smile and tell you how much they love your place if you are there .
• Accomplished agents can help buyers get past their objections to a home . But to do this agents need to have the opportunity to analyze the home with the buyers in private — outside of the seller ’ s ear-shot . Green carpet can be changed . It may even cover beautiful hardwood floors .
• It ’ s natural for sellers to want to know what buyers think about their home . You probably won ’ t get a straight answer from the buyers themselves , nor is it appropriate to call the buyer ’ s agent and ask him or her for feedback .
We can follow-up on showings of your home and report back to you with feedback from the buyers . Often , useful information can be gleaned from our follow-ups . You may discover a common complaint and it may be something that you can remedy . For example , if every buyer that looks at your home likes it but can ’ t stand the green carpet , you have the option of changing the carpet if the home isn ’ t selling . Not all agents routinely follow-up on showings and report back to the sellers .
Sellers who can ’ t leave during a showing should make themselves scarce . Sit in the garden or hideout in your home office . Greet the buyers courteously , then disappear . Under no circumstances should you follow the buyers around your home , hovering while they look .
AN ORIGINAL PUBLICATION | HUGHES REAL ESTATE GROUP OF SILVERCREEK REALTY GROUP | 27