Reach for your wallet when any agent claims a "proven track record of quick selling." There are too many ways to manipulate MLS statistics to achieve that track record.
Head for the door if you're solicited by any agent if you're actively working with another agent.
A lot can contribute to you not being able to sell your place. We like the suggestion of changing your agent/agency for starters. Find someone with a proven track record for quick selling. Typically these people will be more in tune with what needs to happen to get traffic to your unit.
Without seeing your place here are some things that have helped us with reducing market time:
Better Marketing â€“ Do you have professional photographs on the MLS? This can make a HUGE difference when people are sorting through a ton of listings. Has your agent been doing open houses? Has your agent been driving traffic to your condo? What have they been doing besides a sign in your window and an entry in the MLS? If thatâ€™s all your agent has done, get a new agent.
Better staging (presentation) â€“ this can make a bad place look great and spacious and a nice place look horrible depending on how your furniture is placed in the house. To quote a wise old agent â€œthe way we live in our house is not the way we sell our house.â€ This place is no longer your home it is a commodity! You need to remove any bold paint colors that you may have. Put all of your personal stuff such as family photos etc in a box and get them out of there. The goal is to make your place look like something someone could see themselves in. That is harder to do if you have photos of your trip to aspen on the way etc. Take a hard look at your furniture in the house â€“ now remove at least one third of it; seriously. Get it out of there! Nothing makes a space look cramped like too much furniture. Add light sources such as lamps to every room and make sure theyâ€™re all on when you do a showing. This goes without saying, but KEEP YOUR PLACE CLEAN! No clutter, no open toilet seats, no spots on the mirror. Throw some fresh cut flowers on the dining room table (make sure they match the color scheme of their surroundings). Get my point? If you need to fix something, get it fixed, no one wants to hear â€œoh thatâ€™ll be cheap to repairâ€¦â€ People want a unit that is move-in condition, not something that they will have to put time and money into once they move in. Make sure your agent is pitching the neighborhood and any building amenities that you have, if any. Good luck!
I did answer Lee's question in an earlier post. But to reiterate, no, it is not typical to have only a couple of showings in our current market. There was a real lack of activity in the 4Q2008 and 1Q2009, but since April, the activity levels of showings have been pretty consistant. If there are no showings, then the agents are rejecting your listing on price. If you are having showings but no offers, the buyers are rejecting your property on price. If you have a duplex down condo, there could be several issues. I had an Andersonville duplex down listing last year, and although we had lots of showings (36!) we had no offers. Our sellers weren't prepared to respond to the declining market, and ultimately, they took it off the market and replaced the spiral staircase (always a problem). But until they lowered the price to where the market responded, it languished for another 54 days. It is now under contract.
So I guess the best answer is that now is a great time to sell if you have a marketing plan that works in our current market.
Hope this is helpful to both Lee and Joe.
Karen Breen Elia
You still haven't given us any data on anything you've sold to back up your claim that you "sell quite a bit."
If you have listings in the MLS, as you claim, how come they aren't under your name? Provide a link if I'm wrong on this.
I just put my one bedroom condo listing at 5115 N Kenmore under contract on August 7th). I would welcome the opportunity to speak with you about my unique marketing propostion.
Karen Breen Elia
I sell quite a bit in the Edgewater area and have found unless your property is really unique, pricing is everything. I have listings and buyers in the area and I find that area is moving very good. When people see the prices in the Bucktown or Lincoln Park markets, they venture north, and find more suitable prices.
I have a few properties and a few buyers in Edgewater, and I have been having luck on both sides. I think it is important that your marketing strategy is continually updated and freshly prepared. I had a listing that wasn't getting enough showings, and we tweaked it just a bit, and have had about 2 showings a week for the last 2.5 weeks. There are quite a few buyers out there now, and the market should stay strong until Labor Day, at least, and perhaps longer since market activity started quite late this year.
Perhaps you need a fresh look and a new marketing plan that really puts your listing out in front of the entire marketplace.
If you have no success by the end of August, you should take it off the market and wait until next year.
Take a look at my web site to see how I might be able to help.