Why Do Some Houses Sell While Others Stay on the Market?

Why do some houses sell while others stay on the market?

A very good question. The answer is rather simple: price & condition.

In a Towson neighborhood where there could be 3 houses that have been on the market for months, a new one comes on. There is a flurry of activity, and the house goes under contract quickly.

Why this one? Why not the others?

The likelihood is that this Towson homeowner had their home in a staged, beautiful condition, and it was priced RIGHT. The other three may have overpriced when they first listed in an attempt to “test the market” or their house isn’t in top notch showing condition.

This video, from Jay Papasan, Vice President of of Publishing for Keller Williams Realty, and co-author of a number real estate best-sellers, demonstrates why some houses in the same market sell while others may not. His graph is a great visual of understanding!

Contact me, your Towson Realtor, to find out true Towson house values.

Top Four Inside Secrets To Selling Your Home in This Buyer’s Market

Gary Keller, the owner of the company I work for, Keller Williams Realty, was interviewed this morning along with a few agents on Good Morning America about HOW to sell your home in this market.

These tips hold true in the Towson real estate market as well as others across the US.

Tip #1: When Pricing Your Home, Don’t Try to Make Money. If a similar house down the street is on the market for a certain amount, list your home just under that amount. Buyers will perceive your home as a deal, and will more likely move on yours versus others on the market.

Tip #2: Don’t Be Lazy When It Comes to Presentation. Staging is a great way to get your home to look its best. Remember, once you decide to sell your home, it is no longer *your home*. The goal is for it to be someone else’s! A Staging Professional is a good investment along with a REALTOR(R). As Gary Keller said, “Price gets you interest. Staging gets you offers.”

Tip #3: Some Photos are Priceless. When listing in winter, especially when you have feet of snow still to melt like here in Towson, share any photos you have of the yard, landscaping, etc, from when it is nice out with your real estate agent. Your agent can incorporate these into their marketing of your home. You know how great your yard is to enjoy, but when others can’t see it at the moment, they don’t know what a difference that makes in your home versus another. With these additional photos, it could make the difference.

Tip #4:Don’t Be Cheap When It Comes to Fixes. Have a faucet that drips? A floorboard that squeaks? A carpet that needs replacing? DO IT. Have older appliances? Buy new ones. Yes, new ones. They don’t have to be expensive, but more modern helps to sell!

I disagree with Tip #5 because my buyers find it extremely uncomfortable when the owner is home, and I find that they tend to not take the house seriously if the seller is there. It is good to have brochures and photos there to share information about your home, and your agent is an important facilitator in this process in speaking with the buyer’s agent and getting buyer’s questions answered. But do NOT be there for showings. Buyers want to open cabinets, closets, and feel like it could be their home. If you are there, they can’t imagine themselves as the owners there.

I hope Towson home sellers find this information useful as they prepare to sell their homes. Please contact me to help you further!

Towson Real Estate Agent — My Second Interview with Castle Title TV

David Kramer, President and General Counsel of Castle Title, LLC asked me back for another interview about Social Media and my successes with it for business. (You can visit the first interview here.) This time the topic began as “How Much Time Should You Spend on Social Media”, and we discussed this as well as appropriate behaviors and topics on these sites.

 

I thank David for this second opportunity, and look forward to hearing from you who view about social media networking and in the long run, how the time I spend on this medium has helped me to continue to grow my Towson real estate business.