Is YOUR home sale slip-sliding away?
In light of all the rain this week in California you might think I'm talking about mudslides. And granted, there are some of those, unfortunately, with more likely to come unless the rain stops.
But this post is really about home sales losing their potential to become a reality...for a host of reasons. Some may be YOUR fault, deliberate or not. Others, quite frankly, are the result of your agent's actions. Maybe you aren't aware. Maybe you are and don't care.
As an agent who is, at the moment, working with lots of buyers who are anxious to buy, I thought I'd pass along some feedback that could help. Listen up! If you really do want and need to sell. If you are testing the market (come on, you KNOW if you are), you can simply ignore this.
So this is what we (me and my buyers) think are a few signs of a seller's faux pas:
PRICING
OK, the price is not in line with the local market: nuff said. Buyers know this right away, so you aren't fooling anyone. If the agent took the listing with a price that is out of whack you are both responsible.
AVAILABILITY
Scheduling a showing is too hard - the hours are really limited, you or the agent do not return calls or emails, you have to call too far in advance (48 hours? Forget it). Do we even need to talk about keys that don't work? Or how about when we do call you say it's not a good time? Hmmm, you DO need to sell, don't you?
MLS INFORMATION
The information is limited, missing, inaccurate, or contradictory (e.g., it says MOVE IN condition and it looks like a junkyard with more cosmetics needed than most buyers would consider even remotely reasonable). That's your agent's fault, in most cases Are you getting the opportunity to review the listing to make sure it is accurate? Many folks make decisions about showing based on what they read. You CANNOT afford to ignore this. And as the client YOU deserve to have your home's information on the Internet presented in the best light.
NO PHOTOS
OK, so there's one crummy photo. Your agent is simply NOT doing the job. Buyers DEMAND photos. Like it or not they DO make decisions based on photos. No photos, no showings from some buyers. What a loss. This is your agent's job - you need to hold them accountable.
LOCKBOX ISSUES
This is solely the job of your agent. I can't tell you how many times I have encountered NO lockbox when the MLS says there is one. Or the key does not work. Or the agent doesn't bother to state in the MLS that the lockbox is a combo instead of one we can access with our Sentrilock card. Or the key does not get returned.
INTERIOR and EXTERIOR HOME CONDITION
If you think buyers are not paying attention to the curb appeal, and the home's condition, you are not being told the reality of today's market (in many areas). Buyers LOOK for signs of a home that needs help, or means more work for them IF they should decide to buy. And they immediately start thinking there are other hidden issues if the home does not show well or clearly has lots of deferred maintenance.
If this is sounding a little testy, it's meant to. Quite frankly, in the last few weeks I have had far more issues showing property than I would have expected in this market where many sellers presumably NEED to sell. And my buyers have asked me outright...."DO these home owners WANT to sell or not?"
Some of this is due to the fact that SOME agents are NOT doing their job of educating sellers about the local market conditions, and what is essential in order to get the home sold.
Thankfully there are also a good number of sellers who are doing all they need to do - the house looks great, they are accommodating reasonable showing times, and they seem genuinely interested that we are coming by to tour their home. And their care and concern about their home shows.
So give it some thought. Are there things you are doing, or your agent is doing, or not doing, that is causing YOUR home to not be a viable candidate for being sold in this market?
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I would have to agree with your list. Thanks for the post!
Jeff, Great list and I also agree. I wonder why a seller would tolerate the type of marketing (or lack thereof) that we sometimes see. Thanks for the post.
Great points, Jeff. Pricing is always the top spot in my book. The right CMA nails it.
Location, price and accessibility.
Simple solutions to selling homes.
Jeff, I'd add to the "photos" boo-boo... pics of cluttered, dirty, rooms. I've seen unmade beds, dirty clothes in piles on the floor, and dirty dishes in the sink to name a few.
Now I'lll have that song in my head all day....thanks a lot Jeff. LOL
I say it is important for sellers to know by looking around on the internet what is out there, how their home stands up to most of the other ones being listed.
I know if I was selling I would check and compare.
Hey Jeff It sounds like you have been frustrated a bit lately. It is so rough on us when we arrive at a listing and it is the exact opposite of what the MLS remarks state it is. Pictures that are deceiving also aggravate buyers. Making something look as good as possible through photography can set people up for a surprise as well. So show pictures but make them real. Here's hoping sellers will read this and take your advice to heart
Jeff, this is true no matter where one is, not just in California.
But, we will always have sellers, and agents, apparently, who will commit these faux pas.
Jeff, so agree with you on this. I work with buyers, too, and sometimes they must think I'm making this stuff up-why have your home listed if you are not going to work with us?
Nice post. Selling a home does take a lot of cooperation from the sellers and they don't always understand that. I try to avoid listing homes where the seller won't work with me no matter how many questions I ask every now and then I get one where the sellers just won't do what they need to do so I can sell it.
Availiability is a big thing here in Manhattan New York. We do not have lock boxes so the listing agents have to show the property. It is tough sometimes when the listing agent does not cooperate or willing to work with the buyer's schedule.
Jeff,
Excellent list of items that need to be done right if you want to sell. It is a team effort, price it right, work together on getting the house prepped, get good (REALISTIC) pictures in there with appropriate info,etc and you can SELL a home.
I like that you are presenting this from a buyers and buyer's agent perspective.
All the best, Michelle
I'm with Paddy and Michelle on the importance of the photos being realistic. I've seen so many photos that have been done "professionally" but that blow out the proportions of a room, so either you can't get a feel for its true size or that "feel" ends up misrepresenting the reality. Great list of points for sellers in any market to be aware of, Jeff. -- Tanya in Montreal
Unfortunately, all your points are not uncommon! Last week I called an agent to tell him that no one can get into a house because a key had been broken off in the lock! Do you think he has even returned my phone call? Amazing!!
Seems that these have always been the problems. Just get a little more exposed when the market changed.
Good post
I have had similar experiences and it is amazing how difficult it is to get a showing. I find quite often here in Lexington homes that have been on the market for a long time have been so because people can't really get in to see them.
This is understandable on rental properties. An agent I work with was able to get his seller to pay an incentive to the renters to keep the property looking well and having it available to show. That seems to make a difference. Paying your renters a couple of hundred dollars could make you a few thousand.
excellent list of boo-boos... I would add #7 to be agents thinking they "own" the listing and getting in the way of realistic offers being presented properly due to egos getting in the way. Peeve! Hey Mr agent, if you price it wrong most likely our offer will hurt your feelings but get over yourself- the sellers OWN the home and it is your duty to present my offer ! Bite your lip, thank me for the offer and get on with your duties.
Jeff.. Very good points..
HelpfulHannah
Two things to be particularly aware of in relation to price - things you can't control (or don't wish to deal with).
Sometimes comps are not enough, you have to also consider the immediate surrounding environment. Are you near a busy street? Power lines? Commercial or industrial real estate? Price lower than your comps if you want to be SOLD.
Also, if there is anything obvious that is in need of repair or adjustment (e.g. carpet, appliances on the brink) - price for it going in or be prepared to negotiate.
Last thing I love to have at my disposal as a buyer's agent is school and property management information. I make it a point to have both of those in my listings because I know it's something I need when working with buyers.
Availability and condition of your home are the biggies. Showing homes that are unkempt and smelly are buyer turnoffs.
Well said. It you don't get the basics right, the details will not follow.
Thanks ofr the post. I can't believe how many listings are out there with no photos or one bad photo.
Jeff - Excellent post. I'll reblog it using different key words. Sellers need to read this!
Here is my question about photos. What do you guys want? You complain about one photo but on the other hand you complain when photos are of unkempt rooms, clutter, and dirty. When is one better than many? Sometimes the home is a rented property. The tenants have no incentive to make an otherwise great home presentable. I struggle with this often. As you say buyers are visual so will they overlook the unkempt rooms or overlook the listing???? Seems to me either way there is not an easy answer but to say that the agent isn't doing their job could be unfair. I'll take my chance with one photo until I can provide more quality interior photos and depend on buyers' agents to do their job. How unfortunate for your buyers to miss out on a great home because of only one photo.
Excellent tips. In this market, it is important that each of your points are addressed. Buyers have a huge selection and when they encounter a problems they just toss it aside. NEXT!
Excellent points Jeff! Talk about condition, I showed many vacant properties over the week-end. Unshoveled driveways and melting, clogged gutters do not make a good impression.
Renee - Glad you thought it useful
Dan - well I figure they (1) don't know about it (and why wouldn't you?!), or (2) they just don't care
David - too bad it's not tops in the sellers' mind, other than getting as much as possible.
Lenn - and two of those are in the seller's control!!
Sue - don't get me started on photos. That's an article on it's own. But despite how much is said, some folks just don't get it.
Missy - and how. Funny how the song just popped into MY head when I was seeking a title. Must have been all the rain. LOL
Jeff
Getting access to the apartment is really hard sometimes here in Manhattan, sometimes there is a tenant that makes it difficult to show or a listing agent who doesn't want to show only if its on certain days and times. No pictures or poor listing description will make it hard for a buyer to want to see a property.
Accessibility is a pet peeve of mine. People that decline showings are shooting themselves in the foot, and when they haggle over noon or 12:30 when I could be doing something more productive they aren't helping anyone.
Paddy - yesterday was a tough one, in fact. 2of 5 homes were NOT accesible due to key/lock box issues. AND I drove a significant distance. That is clearly an agent issue.
William - sadly that's true. But perhaps if we continue to talk about it more will get the idea. I suspect folks here on AR already know this stuff.
Lisa - and it's embarassing and annoying. And such a time waste.
Teresa - clearly some agents do not practice what you do. Too bad.
Jeff
These are all great tips; it would be important to hire a qualified agent in order to assure that your home doesn't go slip-sliding away.
What you mentioned is always very frustrating! You feel simple when you get to a property and find that there isn't a lockbox on the door. The Buyers look at you as if you should have known this fact! Or it says it's vacant and you get there to find 6 people who are just visiting for the week! Very frustrating!
Here on Kauai it's hard enough to show condos when they are often filled with vacation renters. If you couple that with a realtor who is unavailable, its downright frustrating. I prefer to offer the condo tenants a nice dinner or bottle of wine, so they will let potential buyers into the unit. Good points Jeff. Stay dry will ya...
Jeff, it's crazy that some of the sellers don't pick up on these things and demand them of their agents.
Accessibility is my biggest pet peeve. Price we can work out (negotiate, if it comes to an offer). Location, well . . . nothing you can do about that. Many buyers work during the week. The weekend is ripe for going out and touring properties. I've had about 15% of the properties I've wanted to tour ask me "Can you see it another time?" That means: not accessible at the time the buyers want to see it.
I'm primarily a listing agent and I'm amazed how often I call the seller to schedule a showing and he says, "Oh, this is just not a good time." I always try to convince him that he needs to make it a good time, but some sellers are just not reasonable. They want top dollar for a home that needs lots of work, they want no inconvenience and when we get an offer, they say, "I'm not giving it away." That's when I try to extricate myself from that listing.
Thanks Jeff! I have a seller right now who won't let me put a sign in the yard!!!!!!!!!! I keep telling him that he found his house by driving around and seeing the sign, don't you want to offer that to your next buyer??? pippa
Eileen - I used to have the same problem in Boston, It drove me nuts. You would think lockboxes would make life easier - and often they...provided they exist and there is a key that works. I have to say, though, that those are the exceptions, thankfully.
Michelle - thanks for the compliment. The market has gotten so competitive in certain segments and it is really frustrating when we are trying to access properties that buyers are really interested in, and we can't. Buyers don't get it.
Tanya - well I still tell buyers to NOT rule out things, in most cases, based on photos because they often are not good representations. What is really disappointing is when the listing sounds wonderful, the photos are good, and you see the house and wonder if it's the same house. Of course the opposite can happen as well.
Jeff
I have to agree also. When everyone knows what they are responsible for and odes it ~ things some together better. Thanks for your post.
Peggy - what is so frustrating is that these issues ARE so common. I had a seller hang up on me when I was trying to set up a showing (an $800K sale). I left a message for the agent - nary a word.
Tony - true. These issues, and others, are definitely more rampant. While many are with out of area agents that is NOT alwasy the case. And it isn't just REOs and short sales in my area.
Paul - well I understand the issue with tenants. But not with regular sellers. And one would think getting into a vacant house would be a no brainer. Not!
Good point, Michelle. And when they say "my seller will never accept this offer." Hmmm. Wonder how THAT will get presented.
Hannah - glad you thought so.
Jeff
Hi JEff...it's all about price these days, then location (it used to be location, location, location,) not anymore. Lastly it's condition!
Patricia/Seacoast NH
Jeff, this is short and sweet...really neat...and already reblogged in Southern Maryland
On target as usual. It is amazing how many sellers don't do the basics of checking on how well an agent can market their home before they list with them.
All terrific poionts Jeff - and while more sellers seem to be getting it, there are still an alarming amount who still seem to think that such effort need not be made to sell their home !!! They are usually the ones complaining after 6 months.
You make all good points. THe pricing issue is one I argue about with almost every seller. They just find it hard to face the reality.
Jeff, a slow market is blamed for house not selling most of the time, when many times as you pointed out, the Sellers and their Realtors a a contributing factor many of the times.
Great list! Availability and ease of showing are important. Sometimes a property is accessible all day, but the Realtor must walk to to the rear of the house in the rain and mud to access a key box hidden among leaves on the branch of a tree!
Jeff, you're right. It doesn't matter how great the home is priced if the listing agent is UNAVAILABLE and refuses to return your calls.... that is a disservice to his seller client!
Regina Brown
Great list each seller needs to assist their agent so they don't miss the perfect buyer.
These are definitely issues that will make it difficult to sell a home and make a potential buyer and buyer's agent unwilling to make the effort to see it another time.
Hi Jeff! EXCELLENT list! I've got one for you--how about a short sale that is 'move-in ready?!' They don't say that it could take 6-9 months for it to be ready! LOL
Congrats on the well-deserved feature!
Hi Jeff, A very well written post and one I can really identify with. I hope things improve.
Jeff, this is one of those posts that we can all print out and give out at listing appointments. Great points.
I APPRECIATE those of us who deal with this C to the R to the ** to the P and WRITE ABOUT IT! Rock on Jeff! BTW, Since the moratorium, I have seen a WHOLE HOST of new faces, er names, who do care about their listings. Seems that some may have lost some vendors from piss poor service!
Jeff, one of my pet peeves is lack of concern about lockboxes. Last week we had a key that wouldn't work. I called the agent and left a voicemail. It was hours before I heard back. We were long gone and the buyer wrote on another house even though she really liked the one we couldn't see, from the outside.
Jeff, one of my pet peeves is lack of concern about lockboxes. Last week we had a key that wouldn't work. I called the agent and left a voicemail. It was hours before I heard back. We were long gone and the buyer wrote on another house even though she really liked the one we couldn't see, from the outside.
Almost commical how common sense some of this is. Makes you wonder what the heck some agents even think they are doing ... certainly they are not agents, more like participants.
Hi Jeff...There are sellers that do not recognize the importance of making their homes appealing to buyers and the need to price it where it is marketable. If agents do not encourage their sellers in these areas and do not do the best they can to get the house sold they should move on. There are plenty of responsible agents ready, willing, and able to do the job we get paid to do.
Very important feature. Congratulations.
Kate
Jeff this is an excellent post, you really touched all the hot buttons. The worst are the sellers who make getting an appointment so difficult, it is like pulling teeth.