With all the hoopla about how bad our Real Estate Market is, we forget that:
•1. Everyone needs a roof over their head.
•2. People get transferred, they move, they marry, they divorce, they die. Each major life event triggers a possible Real Estate Transaction.
If a listing is priced competitively, if it's marketed properly and if it shows well IT WILL SELL!
Educate your sellers! If they think their property is worth more, why don't you take them for a drive and show them competing properties that are priced correctly. Ask them to take their owners' hats off and pretend they are buyers. If they had these options open, which home would they choose?
After Reality Check 101, it's time for a little "House Beautiful" Session. When the condo didn't sell and the showing comments indicated that it was the condition and appearance that kept the offers at bay, my sellers invested some money and sweat equity and did a condo make-over. Now that their unit is the lowest priced in their building and the most attractive one, it will sell.
Never underestimate the power of the make-over! Getting rid of clutter, painting the walls, changing the flooring and doing other cosmetic updates like replacing the window furnishings, some of the lighting fixtures and accessories... All of this can go a long way with the buyers, who either don't have the time, the budget, or the imagination to do it.
Giving their property a make-over and substantially lowering the listing price, making it the most affordable condo in the building and the most attractive one as well, will most certainly get this property sold.
As Realtors, we can only do so much, regardless of how much education, marketing ability, professionalism and intrepidity we possess. The Sellers have to be part of our team, in order to get that home run...
Price it well.
Stage it well.
Watch it sell!
23 comments • Myrtle Beach Real Estate by Mirela Monte • January 29 2009 08:00PM
Just got in a disagreement the other day with an agent who thought the world is coming to an end and nobody will ever sell their house again! Unreal. Way to keep things in perspective.
Now there's some great advice! It's surprising how much sense it all makes to us!
Josh: Yeah, unfortunately there are a lot of "Chicken Little's" out there...
A seller whose unit does not show well and is priced at the top of the market, is probably in denial about dome other things as well...
If lamenting had any positive outcome, I'd do it too...
Yes, the market is not good. Which is all the more reason the Seller has to be REALISTIC and COOPERATIVE with the very BEST AGENT!
Patricia: Did all the hoopla make us forget that housing is a mandatory item, NOT a discretionary one?
BTW: I think it's pretty obvious, but I'll just mention it, just in case: the little pictures are the "Before" and the large ones are the "After" shots.
Mirela -- oh so true re price, condition, location. And in this market price is so important! Got a call today from an agent who has a condo listed in the same complex where my client just sold. Signed yesterday and put the sold sign up last night! We were on the market 45 days. Her client's condo has been on 100 plus days. Same floor plan -- and hers has a few updates my client's didn't have -- BUT -- it is overpriced! She is hoping her client will now listen to her advice. I hope so too.
Too bad your not up North. As a Stager I would love to work with someone with your savy. Much appreciated.
All the best!
I couldn't agree more.... we are still seeing movement, but they have to be priced well and then staged to look their best. It's a 1-2 punch combination....
Melissa, you know I am a big fan of yours.
I am getting a 2.8Mil listing that needs your touch. Do you work the Myrtle Beach area, or is that too far?
Kimberly: You're so sweet! Thank you for that!
Alexsandra: We are Realtors, not Magicians!
Hey, gang, it just occurred to me: this is a good one to re-blog and share with your clients...
you are on the money there Mirela with the pricing and staging!
Mirela,
Thanks for the invitation to post on Traveling Rainers. I joined the group, and edited the post you requested.
Mike in Tucson
p.s. I haven't seen an outhouse for sale since the hogs ate little brother...
It is sometimes the little things that make a difference...
I was on the phone earlier with an agent (and fellow rainer) that has 2 clients making offers and both are in bidding wars.
Price it right and the buyers will come... IN ANY MARKET!
Mirela - great pictures and great reminder. I suspect that in most of the markets people are still driven to Real Estate by normal human reasons - not by greed or speculation. You did a beautiful job staging this condo! It should sell!
For as much a hurdle as pricing can be with sellers, the staging portion is often the bigger leap... but my-oh-my what a big difference it can make in moving a home.
I fall off the AR wagon for a month and you go from 4th to 1st -- Congrats I know that is a lot of work... JE
Dear Mirela,
Great photos and a wonderful post!
I wonder if my clients might believe you, if they don't believe me.
Calls and showings are really increasing here. I am about to leave for my third showing for the day!
Hi Mirela, I love your title! and the befo1r and after shots are great...what a big difference! Thanks for post Mirela! Hope you have a great day
Mirela, I spent Saturday showing 8 homes, only TWO sellers got it- you have to declutter and stage. Your home will be the one that's remembered, it will show much better and it will sell. We're going back for the second look. Great post.
Hi Mirela...The photos tell it all. We know it. Buyers know it. Some sellers have to learn.
Kate
BTW, I sold this condo soon after it was re-done. We closed on it in April.