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Barb Schlinker Realtor
Your Home Sold Guaranteed Realty Colorado
In this hot market. The average days from the time the home goes on the market to the time the home goes under contract is under 30 days. Yet not every home sells in under 30 days.
I’ll be sharing with you how to get a free special report on getting the price you want and need. So what are the reasons a home is not selling?
Number 1, usually it means the price is too high.
Number 2 or the home may not be properly marketed.
Number 3, the home may not be properly exposed or there are some condition issues. If the reason is the home is priced too high, sellers should consider making a price adjustment sooner rather than later.
And here’s why. Buyers worry if a home sits on the market for too long. They’re concerned that there may be issues with the home and they could be reluctant to make an offer when a home sits on the market unsold for a long period of time.
The other reason is that according to the national association of realtors, if a home seller prices their home optimistically, they price it too high and then they slowly walk the price down. On average, they net less money when it sells, they’re better off pricing realistically. So what are the indications that a price adjustment may be necessary? The first one is if there are no showings, obviously it’s too high. The second one is if there’s plenty of showings but no offers. So what does that mean Plenty of showings? You know most agents that don’t sell a home, many homes don’t know that, but we do because we sell a lot of homes.
So how do we know what’s the right number of showings? Well, here it is. Homes priced under $400,000 you should be getting at least 10 to 20 showings a week. We cannot keep up with the inventory. Homes priced from $400,000 to $600,000 you should be getting 5 to 7 showings a week and then homes price from $600,000 to $800,000 you should be getting 3 to 5 showings a week and homes over $800,000 you should be getting 1 to 3 showings a week. Here are a few rules of thumb that indicate to a seller whether or not they are on target with the asking price if they’re at home. First of all, if there are absolutely no showings in 10 days, the price is probably too high or if there are 10 buyers that came through your house, 10 showing appointments and no offer, the price is probably too high.
Also, if you are getting offers and let’s say it’s not an offer that you want to work with, that’s a really good indication that you’re on target. You just have to wait until the right offer comes along
And there are times when buyers will make low offers just to see how low the seller will go. That’s okay. If you don’t want to take that offer, we could move on. Just know that there’s going to be another one coming soon. You know, I’ve recently had a listing where we received an unreasonably low offer. The seller decided not to accept that offer and soon after we got a great offer. And last but not least, when it’s time to make a price adjustment, you need to know how much of a price adjustment would be appropriate to sell this home for the most amount of money.
You know, I recently sold a home where they were having tons of showings but no offers and it was priced to under $400,000 so it only took a tiny price adjustment to go from no offers and plenty of showings to 2 buyers bidding the house up and they got full-price. Having a great experience real estate agent that can explain the best way to get the home sold for the most amount of money is the only way to go. And unfortunately, home sellers don’t have access to the data about similar home sales or what’s currently under contract, what’s currently pending. A great agent will be able to choose the right recent sales to help you get the most amount of money. To receive your free report, getting the price you want and need visit www.GetAskingPriceReport.com or call me, I’m Barb at (719) 602-6200.