First time seller, or experienced investor, most overprice.
Third quarter numbers in metro Atlanta reveal that 62% fail to sell at all while listed.
You and your builder are in that 62%, and I'll bet that about 12-15 houses in your submarket in similar condition, with similar size and finishes have sold since February, so review what just happened and stop blaming your rookie agent.
Inept agent. Yeah, maybe.
If your home's been on the market since February, it's priced too high. I recognize you may not be able to price it lower, but you're caught between a rock and a hard place. If you don't have to sell, don't.
type and size of home, that will tell you two things is mine priced competitively enough, is mine updated enough, then you can discuss with your Realtor what you can do about it....
There is some advantage to selling a home that is not a short sale and not a foreclosure, ask your agent to
explain, but updates, curb appeal, and price will make the difference....
Good luck to you!
Edith YourRealtor4Life and Chicago Connection
You ARE between a rock and a hard place - unless you put a lot down and have the ability and stomach to significantly undercut everyones elses price for a quick sale - and strategies for other than a quick aution-like sale stand little chance of success - stay put if you can.
You need to wake up and smell the coffee
Do you know what is going on in your market? See the link below.
Values are dropping at 20% per year, or over 1.5% per MONTH.
So if you need to, either be able price it to sell (which means competing with foreclosures and short sales)., or do not bother.
We do market the market, we simply deal with the market. If your goal is to sell over market value, then I would not take your listing.
You need to be realistic and develop strategies that make sense:
1. Do you Absolutely need to sell?
2. What are your alternatives?
3. What happens if it does not sell?
4. The straight answer is that your property is worth 15% less than it was in February, so get a clue. Either price it to sell, stay put, or.....
You asked a question. Your answer is simple. LT and the other agents are right. You are overpriced if you haven't sold. Features and benefits...what are you offering at or below the same price that the builder is offering?
Is the builder offering a 5% commission to the Buyer's Agent's? If so, pony up. You have to pay to play even if you wind up paying 8 or 9% in commissions to get your home sold. There must be a reason why you're selling so soon. New job? New family situation? Whatever it is, if you really need to sell, you'll make it work.
I sold a home in Brandon Hall last year for $300k when the builder was selling the EXACT same home for $320k. We KNEW we had to beat the competition. Yes, my Seller brought LOTS of $$ to the closing table, however, he's happy with his family in Vancouver today.
If the buyer will get a better value with the foreclosure or if the builder is offering a better value, you will have a tough time
Also, only about 10% of the homes in your price range are pending right now which means you better be in the top 10% of value for all homes in the area in your price range, not just your community.
Have you seen your FMLS listing? How do the photos look? Write up? Where are you marketed, syndication wise? How active is the agents website. Marketing is really important now too. You need to be on the first page of trulia, zillow, enhanced realtor.com, etc. There are too many listings so if you aren't, the buyers may never see you.
Hard to tell you exactly why you aren't selling without analyzing the home. Are you getting showings? If so, what is the feedback.
Look at the marketing and see if you would select the home as a buyer. If not, something is likely wrong. See if you can find it easily on the internet too.
If you aren't happy, ask some agents to come present to you what their plan would be.
Let me know if you have more questions or need help.
The Sherry and Maria Team
Keller Williams Realty Consultants #1 Team
Drop the address out here, you'll get more focused opinions.
1. It must be Sparkling clean! (Windows, too.)
2. Everything that is obvious has already been repaired.
3. Move-in ready. All I have to do is write the check and start moving.
4. Professionally staged. The Builders model is staged, and that is your primary competition.
5. PRICED RIGHT @ MARKET! If you aren't in the top 25% in condition and the bottom 25% in price, forgetaboutit.
You might enjoy my recent blog article: http://www.trulia.com/blog/ellen_doc_stephens_realtors/2010/
If you were a Buyer, which house in your neighborhood would you pick? If it is over-priced, no amount of slick marketing and prospecting will do any good. You'll just be telling more people that your home is over-priced. If you have met all these criteria, then make sure your agent is actively prospecting for a Buyer every day. The best agents make it a point to actively try to find a buyer for each listing.
Doc Stephens, REALTOR
Your issue has nothing to do with the Agent or your home, it's the market. It's common these days for nice homes to sit on the market 6 months or longer. The best advice for sellers is to keep your home and rent it out until the market picks back up and homes are selling at their true value. I wish you much success whichever route you choose,
I would be happy to help you with your property. I have lived in Cumming for the last 13 years and work work with buyers and sellers in Forsyth, Gwinnett, North Fulton and Cherokee counties. Please contact me at the address/phone numbers listed below and I can give you an assessment of the market and offer my expertise in pricing your home to sell! Thanks!
Solid Source Realty GA LLC