You Want to Sell it When?
July 20th, 2009 categories: Real Estate Selling
Met some wonderful lifelong Cincinnatians last week.
Once they found out I was in real estate, I was the recipient of the usual real estate humor….where were my high heels (don’t own any), name-tag (I know my name) and why do agents think they are worth so much commission (another discussion for another time). After I suffered through nonsense, they got down to business- their house was up for sale and you guessed it…..not selling.
After answering my boot-camp basic questions: where, size & shape, price and motivation- I had a fairly clear picture of their “problem”.
No motivation to sell!
No selling motivation is the swine flu of real estate- silently sneaking up and potentially killing any chance of selling for the highest dollar.
Actually it may kill any possibility of selling at all. When unmotivated sellers stick their noses into the real estate market, they’re often met with tons of showings, no offers and, in many cases, the realtor doesn’t even bother to push for price reductions. Why bother with a price reduction when a grossly overpriced property reduced slightly to still grossly overpriced doesn’t attract real buyers?
Statistics over the years have proved -the longer a property sits on the market -the lower the sale price. A quick of the Multiple Listing Service of Greater Cincinnati shows 11,825 single family homes and 2257 condos currently for sale-so there is no shortage of inventory.
Lack of motivation to sell cannot be overcome with home staging, broker luncheons, virtual tours, open houses or ads in papers.
SGS-(Sellers Get Smart) if you really don’t need or want to sell and are waiting for the market to inflate to your price-do yourself a favor and take it off the market. Don’t wait for somebody to come up with an innoculation that will induce buyers to look at overpriced property- it’s not going to happen.
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