Home Selling in Plymouth>Question Details

Ethan Adams, Both Buyer and Seller in Plymouth, MA

My home is now listed (mls 70793313). It has been on for a few weeks now and we have only had 1 showing and

Asked by Ethan Adams, Plymouth, MA Sat Aug 9, 2008

the price has been dropped 20K. We are really motivated about moving to north central massachusetts and feel as though looking at the comps that our house is a steal based on the improvements we have made here. Any advice to help me get more people to view this listing. My agent has emailed a bunch of buyers agents recently so hopefully that will help. But we Really want to move, so motivated sellers is an understatement. Thanks in advance.

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7
Alan May’s answer
I see a lot of open solicitation of clients, and referral fee seeking on this forum. I realize that all of that is basically acceptable and never criticized.
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Actually, Rockin'

Open solicitation, or subtle solicitation is often criticized here, by buyers, sellers and agents alike. It is also patently against Trulia's community guidelines.

We agents don't "jump on" each and every self-aggrandizing post, as we figure that the general Trulia-reading populace is smart enough to discern a snake-oil pitch when they see one, and that the pitchman is harming himself (and potentially his agency) more than he's helping.
2 votes Thank Flag Link Sun Aug 10, 2008
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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Ethan

There is a link in web references below to a thread that has some FSBO info, but also in it is marketing ideas that you could do on your own to augment you Realtor's marketing. The buyer agent sign has actually worked before. If you choose to become proactive, ALWAYS keep your Realtor informed of your efforts.

"Consider ERA Franchise and look into their Seller Security Plan. Chris"
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Chris

I see a lot of open solicitation of clients, and referral fee seeking on this forum. I realize that all of that is basically acceptable and never criticized. However, this is new territory that I haven't seen before. I interpret your post as solicitation of a client from another brokerage. Albeit not specifically to your office, but still a suggestion to switch companies to one you are associated with. This when Ethan was not complaining about the level of service from his current brokerage at all. Even if this form of solicitation is also permissable, don't you think it could be somewhat tacky if not unethical? If I have somehow misinterpreted your post, I apologize, but I don't see how I could have. Possibly you did not read Ethan's entire post, and did not realize he was already with a brokerage.
2 votes Thank Flag Link Sun Aug 10, 2008
Thanks Julie -- I see it is in Plymouth, MA which is a market I don't know, but can certainly give my perspective based on what I see. Is a very nice house, but the landscaping in front could be changed to enhance the features of the house - the large shrubs don't do much, put flower boxes on the lower half of the windows. Bedroom #2 - take out one of the beds if you can - two twin beds make it look too crowded. Lower level - pack mostly everything and leave the essentials furniture, tv. I know Sellers get tired of us saying how PERFECT your house needs to be, but the competition is fierce out there and you need to be priced below market or show Buyers why your home is worth MORE! The home has some great features from what I see, such as the wood floors, great kitchen, nice yard, etc.

Do your very best to be ready for showings at a moment's notice. Most of the time we schedule about 8 homes to see and if one of them is not available when we request it, I rarely ever get a chance to show it again. Also - be patient and let EVERYONE you know that you're selling the home. The answers can go on here as you can see. Best of luck to you!
Web Reference: http://JackieFunk.com
0 votes Thank Flag Link Mon Aug 11, 2008
Hi Ethan: I am not sure how the agents that have answered this questions found the home. MLS 70793313 comes up as invalid on our mls system. Our listings are a 7-digit number starting w/ a 3. That is of course if you are in Plymouth, MN. Please confirm if that is true and let us know your MLS number so we can give you ideas. I don't know if you and/or your agent are aware that Plymouth, MN was recently voted as the #1 Best Small City to Live in America -- pretty cool and a tool that can be used to market your home -- here is the link:
http://finance.yahoo.com/real-estate/article/105381/America&…
Web Reference: http://JackieFunk.com
0 votes Thank Flag Link Mon Aug 11, 2008
Reexamine the comps. Have a new CMA performed. Although being on the market for only a few weeks is a short time frame, only 1 showing may be an indicator of a too-high price.

One other thing you said raised a red flag: "...feel as though looking at the comps that our house is a steal based on the improvements we have made here." OK: Your house may well be a great value. However, you wouldn't believe how often sellers of overpriced homes tell me: "My house is a steal because of all the improvements I've made."

In 99% of the cases, the improvements fall into one of the following categories:

Maintenance or Repair: Not Improvements
These are folks who have put a lot of money into their homes. Maybe a new roof a few years ago. Or a new HVAC unit to replace one that was 20 years old. Here's the sad truth: Buyers expect roofs that don't leak and HVAC units that heat and cool a home. If the old one was failing and you've just put $5,000 into a new one, that's fine. But that will return almost nothing of your investment. A house with a 2 year old roof and an identical one with a 15 year old roof (in decent shape) are worth very nearly the same.

Improvements That Don't Return Value
Most improvements don't return 100% of the investment, or even close to it. Depending on what the improvement is, you might see a 60%-80% return. That includes things like new windows, a finished basement, a swimming pool, a sun deck, and so on. They may be good, well-done improvements. And they may have made the home more enjoyable for you. But don't look for a 100% (or more) return on your investment.

Poorly-Done Improvements
Sometimes Harry Homeowner attempts to do the improvements himself. That might include finishing off the basement, or upgrading a bathroom. These are invariably done without permits. And very often they don't look good. They don't function well. These can actually detract from the value of the property.

Now, maybe your situation is different. But the question comes down to: Can potential buyers see the value in the improvements you've made, and are they willing to pay for them? And if the answer is no, then--regardless of the quality, utility, or cost of the improvements--then you have to recognize that when pricing your home.

Hope that helps.
0 votes Thank Flag Link Sun Aug 10, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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ELV!S

Thanks for clearing that up. I was beginning to wonder.
0 votes Thank Flag Link Sun Aug 10, 2008
Listing looks very well set up on the C-B website, with lots of photos of interior and exterior. (lower level photo shows some clutter - you may want to de-clutter and take another shot). Checked realtor.com and only saw 6 photos with reference to beautiful backyard, but no photo of it. You may want to ask for enhanced realtor.com listing, since that is still a huge site for buyers doing previewing online. The only thing specific to the house that caught me as 'off' was the photo of the breakfast area - which seemed a little tight. It may just be the angle of the photo. Very nice house and seems reasonably priced. You might show a picture of the nearby beach as an enticement, too. Best of luck!
Web Reference: http://www.rondaallen.net
0 votes Thank Flag Link Sat Aug 9, 2008
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