"No
matter what I do, I just can't sell my home," you exclaim!
Most homes can be sold
in today’s market in a reasonable amount of time, generally
within two or three months.
And most sellers receive their asking price.
There are typically nine
steps in selling a home. If you’re having trouble, review the
following. Perhaps, it will assist you in identifying the problem
correctly.
*
STEP 1 - ANALYSIS: The critical element is to correctly
predict the price that your home is worth in current market conditions.
When the expected value of your home is wrong, you're asking for
trouble right from the start. The typical problem is that a home is
priced too high for the market. This is the case for the majority of
homes currently for sale. It is either the fault of the agent, the
seller or both. You decide.
*
STEP 2 - MULTIPLE LISTING SERVICE WORDS AND PRICE: The
data entered into the Multiple Listing Service computer will affect the
number of times your home's information appears in other agents'
computer searches of properties to consider. It will also determine
whether your home will be shown to a prospective buyer. Carefully
review the words and the price.
*
STEP 3 - TRAFFIC: A home needs at least one to two
showings a week (on average, offers should appear after 9 showings) in
order to confirm that it is "in tune" with the market. If few agents
call to show your home, the problem is certainly in steps 1 or 2 above.
*
STEP 4 - REMEMBERING: It is important that the buyer is
able to remember your home. The brochure he or she has picked up in
your home will help. It is critical at this stage for the buyer to rank
your home among the best of the 30, 40 or 50 he or she has seen and to
keep it under active consideration. Be sure your home's brochure is
well prepared at
all times.
*STEP
5 - RETURN FOR A SECOND VISIT: If the buyer decides to
return for a second visit, either he or she has forgotten some detail
or, more likely, your home is on his or her "short list." It is most
important to alert your agent promptly and to put your home's best foot
forward at such a critical time.
*
STEP 6 - THE OFFER: When you receive a written offer, your
home is almost sold: At this point most buyers have decided your home
is the one. But be careful: Many will have a second choice, and a good
buyer-broker will not forget to mention this when the contract is
presented.
*
STEP 7 - AGREEMENT: Assuming you have a serious buyer and
you have avoided an emotional confrontation, you will come to
an agreement. What is said during negotiations is often less important
than how it is said. What is not said can be critical.
*
STEP 8 - REMOVAL OF CONDITIONS: Although you can hit a
bump or two at this stage, they normally are not fatal. Possible
problems that can surface very late in the game are a low appraisal or
lack of loan approval. While these are serious problems
indeed, they can usually be resolved with the help of
experienced agents.
*
STEP 9 - FINAL INSPECTION AND CLOSING: When you get to the
lawyers table (in Canada we use real estate lawyers to close the
transaction), the only issue remaining is the result of the final
inspection. Any findings are customarily minor. At this point
significant problems are unthinkable, so relax and keep signing.
There's no excuse for
not selling your home. You and your agent should be able to pinpoint
and resolve any problem. Save time and fix the problem today.
