There are ONLY 5 REASONS why any property
does NOT sell, and the SELLER controls 4 of them:
1. LOCATION - The property may be located near a busy road; lack of privacy - it also may be too close to other homes or lack a nice yard; it may be located on low terrain or have poor drainage; over-improved - the property may be located in an area where the average home price is much lower.
2. CONDITION - Carpeting, wallpaper, kitchen, baths, etc. may be "too dated" or "too busy" and need replacement or "neutralizing." The home may be too cluttered with furniture or other items which do not present the property in it\'s most attractive condition. The home may just be very "untidy" and needs a good cleaning or organization. It may also lack "curb appeal" with little or no landscaping or poor maintenance of the yard...or, the property may look like a "jungle" with overgrown landscaping and might just need a little pruning, trimming, re-done mulch, etc...
3. PRICE - The property may be priced too high for the neighborhood, OR too high for the current market conditions.
4. TERMS - The Seller will not move or allow occupancy for 6 months or longer, limiting prospective buyers who may need to purchase in 30 or 45 days. The Seller may have unreasonable showing demands, like 1) the Listing Agent must be present at all showings (it is hard to have two agents and a buyer all available at the same time to view), or 2) the Seller will not allow a lockbox for easy access by Realtors, sometimes Realtors don\'t have the time to pick up keys or make appointments to meet out at the property if the Seller is not home, so in-turn, they just skip that property if they can\'t fit it into their schedule or 3) if the current market interest rates are at a high level which makes it difficult for a Buyer to qualify for a loan, the Seller may need to assist with Buyer closing costs, points, or worst case, hold Seller financing.
5. AGENT - The Seller needs the best full-time professional Real Estate Agent who understands how to "effectively market" the Seller\'s property to a Sale and Closing and whom is also aware of current market trends in the area to help you get the BEST price for your property.
Which one does the Seller NOT control?
What can the Seller DO to compensate for Location?
(Answer: Make "adjustments or changes" to any of the other 4 reasons.)