Homes Golden CO

Might not be your listing agents fault

There are a multitude of reasons your home might be selling when it is on the market. It is true that in most of the country, Colorado especially, the market is crazy. Most reasonably priced homes are selling with less days on market than previous years. The first knee jerk reaction for many sellers is to blame the listing agent for their home being on the market longer than the average. That is a very irresponsible conclusion to come to.

It’s a numbers game

The first thing sellers need to understand is if you are getting people through the home the listing broker is doing a good job. The purchase of a home is most likely the biggest investment potential buyers will be doing that year if not the biggest for them in 10 years. It is not something a listing broker or buyer agent can force a buyer to do. A buyer will never be convinced to buy a home. This is not the same as other purchases where a good “salesman” can convince a person the want and need for the product. This is a huge deal and no one actually “sells” your home. The listing broker’s job (at least in the beginning) is simply to get traffic through home.

Sometimes sellers are their own worst enemy

As a seller you have some responsibility to help sell your home. A number of deals that could have happened don’t because of the seller. The first thing a seller needs to understand the market does not care how much you want or need out of your home. The market also doesn’t care what your neighbor’s home sold for in July. The market value is a fluid thing. As the world realized on ’08 the value of your home can change drastically over night. Besides your neighbor’s home might have been nicer than yours. Another huge, huge mistake sellers make is not taking the advice of their listing agent about the value of their home. Yes it is true some agents “buy” a listing by telling a seller that their home is worth way more than it is. If you interview 3 agents and one tells you your home is worth way more than the other 2 then that agent is buying your listing. Remember real estate agents don’t set the value of your home, the market does! If a seller puts their home on the market for way over value to “test the market” with the expectation of dropping it later they have missed a huge opportunity. The most important time of any listing is the first 2-3 weeks.

Never decline or reschedule a showing request

People don’t understand the process agents go through setting up showing tours for their buyers. It is most likely your listing is not the only home that agent is showing that day. As mentioned earlier, it is a numbers game. The more people through your home the sooner you will get an offer. When an agent is setting up 8 homes and your reschedule they may not be able to get your home in at the time that is convenient for you. They may have already had 3 other sellers on the other side of town approve for the time you are available.

Always keep your home in “show ready condition” 

A seller should always presume that there will be a showing while they are at work. Keep your home clean and neat at all times. It also cuts down on a frantic stressful cleanup right before a showing. Keep your driveway plowed and yard picked up.

Give your home time to sell

Just because the average days on market is 55 days, don’t pull your home after 45. Especially if you have been dropping the price. The average days on market are connected to your home being priced correctly. If a seller starts at an unrealistic price and lowers it to a price closer to the actual market value, that is when you should start counting days on market. A seller can’t expect the home to be listed for 30 days and lower the price to a reasonable price and expect the home to sell the next day. The market needs to be exposed to the proper price, then it goes to the numbers game. 

Taking your home off the market for a couple of days is a horrible idea

There was a time (pretty much before computer) a seller could take the home off the market, lower the price ever so slightly and putting it back up and the days on market would reset and it would look like a new listing. Those days are long gone. Even if you change agents the days on market and your listing history will reflect this. It is an old trick that went out of date about the same time calculator watches did.

In conclusion…

To sum things up as a seller you are responsible for helping your home sell. A Realtor can not sell your home if you are not cooperating. Don’t stand in the way of your home being sold and sold for a good price. Always listen to your broker. You may be a smart person but this is what real estate agents do all day long. You would never let one of your clients come and and tell you how to do your job. You would expect them to listen to your recommendations. A home is a huge investment. Sellers need to listen to their professional agents.