Dawn2nd, Both Buyer and Seller in Carpentersville, IL

HELP!!!!!!! HOW DO I GAIN NEW INTEREST IN OUR HOME? LOWER PRICE (DON'T WANT TOO)? NEW AGENT? RE-STAGE THE HOME? TAKE IT OFF MARKET (winter)?

Asked by Dawn2nd, Carpentersville, IL Mon Sep 10, 2012

Our home has had 2 buyers both quickly after being put on the market. First buyer never really was qualified and dragged us on for 4 months. The second buyers asked for continuous and we got smarter and everyone if they were really qualified and they were not so we told to get the loan and then come back. Present -- we're now at the end of summer, the house was staged, but is now empty and it looks like it's been on the market for over 6 months.

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Answers

9
First of all .....
your home in order to attract attention there have to be several elements falling together

a) great photos on the internet, which requires a well furnished or well staged home!
to bring the buyers in and have them interested after seeing the photo
b) the property needs to be priced RIGHT and if necessary the price needs to be adjusted to the
surrounding homes that have recently sold, or are currently on the market similar to yours
if the price is not right....you will not get the amount of interest you need to get a good offer
c) So staging, great photos, and a good solid, very competitive price (believe me nobody likes to
lower the price, but if you want or need to sell, your price needs to be competitive as we are in
a buyers market with more homes available for the buyers to chose from, and less buyers
ready, willing and approved to buy...

As far as a new agent, if you trust your current agent, and you know from him or her, what they are
doing as far as marketing advertising, internet presence, etc, and keeping you informed about
the competing homes and those sold in your area, another agent will just do the same. Work with
the one who already knows you and your home well, and discuss what else can be done.

Staging may cost a little but will make a huge difference, unless the size of home according to your
Realtor staging will not make a difference and the home shows well vacant, vacant homes though always give the buyer the impression that you the seller are out and are desperate to sell, and
they will come in with low offers...

You know taking it off over the winter, will cost you taxes, maintenance winterizing, snow plowing
etc. heating and more, and nobody will see your home, may be over the vacation weeks, discuss
that with your Realtor and make an educated decision. There will probably be less homes on
the market during the winter and you will have LESS COMPETITION..... wEIGH THE PROS AND CONS WITH YOUR TRUSTED REALTOR

You should change a Realtor only if you are truly unhappy, or have no good feedback and communication with your Realtor, but first sit down and discuss your situation and then decide
whether you actually do need to work with another Realtor, this should be your last decision.

Good Luck to you
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
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0 votes Thank Flag Link Mon Sep 10, 2012
If the price is not the issue - Interview and consider hiring a different Realtor to relist your home. If you interview a few different agents, you should find more of what you are looking for. The best agent isn't always the one that gives you the best price. It's the one that gives you the best customer service, has a great reputation for selling homes (not just listing them), and someone that comes prepared with evidence to support the pricing of your home.

Good luck!
0 votes Thank Flag Link Mon Sep 10, 2012
There are 2 main reasons a home does not sell. The first is price. Make sure your home is listed at or just below mrket value. Nevermond what you have it listed at, get a new market analysis withwhat it's true value in todays market is so you can see whee you have it listed and if you are priced right or over priced. The 2nd reason a home does not sell is lack of attnetion from your listings agent. If you home is priced right, this tends to be a large problem. Are they advertising anbd marketing your home? then where and to what type of potential buyrs? Are they updating you at last weekly? if not you may want to get a new agent who will.
0 votes Thank Flag Link Mon Sep 10, 2012
removing the staging is not one of the ways to gain new interest. Taking the property off the market for the winter, and bringing it back on for the spring market (in our area, that's the first week of February) can work... but you have to consider your carrying costs for those 3-4 months.

The property has to be off market for a full 90 days in order for MRED (our MLS) to allow the 'market time clock' to reset to zero.

I understand that you don't "want" to reduce the price, but you should take an objective look at the market (have your agent run a fresh CMA... after all this time, it's changed)... and if you need to reduce to be competitive... just do it. Nobody today is buying over-priced properties, and even for those few who are foolish enough to do so, the home won't appraise, and their lender won't allow it.

Good luck.
0 votes Thank Flag Link Mon Sep 10, 2012
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Dawn

Unfortunately non-qualified buyers aren't really buyers. My current listing in Carpentersville has had a month long delay in closing due to issues at the lender, so even qualified buyers are taking longer to close than normal in many cases. Has your agent let you know what is going on in the marketplace? Recent comparable closings, new listings, showing activity, etc? Knowing what is happening in your marketplace, and what you are competing against, will help you make actionable decisions.

Time on market is a negative for sellers, but it is not a deal breaker. Price is ultimately the #1 driver, and beats all other aspects of selling. You can contact an alternate agent to get their opinion on how you are positioned versus the competition. They may be a good resource to help validate your agent's approach, or may lead to a change.

Geoff Ommen
http://www.geoffgetsit.com
geoff.ommen@bairdwarner.com
847-271-2622
0 votes Thank Flag Link Mon Sep 10, 2012
Dawn

I agree with Maria. There are many factors that could be the problem along with the comps in the neighborhood. It would be better to have an address to really assess that tho.

Feel free to give me a call if I can help further.
0 votes Thank Flag Link Mon Sep 10, 2012
Dawn

There are some factors why your home hasn't sold. Poor marketing? Price? Location? Condition? If you have doubts, I suggest seek a second opinion.

Feel free to contact me with any questions you may have.

Maria Ascencio
RE/MAX Platinum
630-945-0139
0 votes Thank Flag Link Mon Sep 10, 2012
What did you do last month to help your Realtor? Lots of ideas linked below, good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Mon Sep 10, 2012
Hire an listing agent that will do a better job ensuring that potential buyers are qualified. When a buyer makes an offer they should always have a written preapproval. If they can't get a mortgage commitment within 45 days of contract, most likely there is a problem. Don't take it off of the market, you agent should be able to explain to people that most of that 6 months was time that you were under contract. Even a small price reduction can be helpful in helping to drum up new interest
0 votes Thank Flag Link Mon Sep 10, 2012
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