One of the metrics we watch very closing for each of our listings is the days on market. We’re able to see the latest average for similar homes or condos and use that county-wide average to determine if we’re on track to sell as we should. That number is an average so it’s important to note that some homes sell quicker, some sell slower, yet there are some things we can look at should a home sit on the market too long.
If you think your home has been on the market too long, here are the questions you should ask your REALTOR®.
What actions have you taken to promote my home specifically? What outcomes did that marketing produce?
It’s critical to understand in detail how your agent has promoted your home. Your agent may have placed your home on the MLS and waited, but have they also invested in internet ads, fliers, and postcards? You can decide whether more marketing is necessary by understanding what your agency has done. Find out from your agent how successful their marketing campaigns were by asking them how many times your listing was seen on their website, how many times the virtual tour or video was viewed, and how frequently they advertised your house on Craigslist
What comments have the potential buyers and agents made after viewing my home?
Ask your agent to start getting input from each agent who schedules a time to visit your house if they aren’t already doing so. Understanding why your property isn’t selling requires input from prospective buyers and their brokers. Ask your realtor about any comments they have received from potential buyers, including their impressions of your space, their feelings on the asking price, and how it compares to other properties they saw.
What’s going on with any properties that are similar?
Understanding what is occurring with comparable homes that have been listed at the same time as yours is crucial. Inquire with your agent about any recent sales, price reductions, removals from the market, or new competitors. Your agent should visit any new properties that will compete with yours and provide you with weekly progress updates. Understanding the trends in your area of real estate will help you decide how to modify your selling plan.
What can I do to make my home sell more quickly?
You play a significant role in the process of selling your home, in addition to your agent. What can you do to help your property sell more quickly? Ask your agent. Maybe you should clean up the clutter in your home, repaint it, or be more accommodating when it comes to showings. Your realtor ought to be open and honest with you regarding what you can do to promote the sale of your home.
Other than the price, why hasn’t our house sold?
It’s crucial to comprehend the reasons why your house hasn’t sold if it’s been on the market for a while. Find out your agent’s honest assessment of the reasons why they believe your property isn’t selling. Is the issue pricing, publicity, or is there something scaring away potential buyers? It will be easier for you to take corrective action if you know why your property isn’t selling.
In conclusion, it’s time to have a serious discussion with your agent if your house or condo has been on the market for a longer period of time than usual. You can successfully sell your property by following the processes outlined above and by asking yourself the questions mentioned above. It’s important to act immediately since the longer your house is on the market, the lower the price will be.
Are you one of the many people that has a refrigerator in your garage? Do you plan on having one in your next home? Here’s what you need to know for a smooth closing on your next real estate transaction.
Garage refrigerators used to be a constant source of problems for real estate agents in Southwest Florida. The refrigerator in the garage should go with the seller since it isn’t the one in the kitchen. Or, should it stay? Who knows!
What do the real estate contracts say?
Southwest Florida has two main contracts that are used for the purchase of real estate—the Naples Area Board of Realtors Sales Contract or the FAR/BR (statewide) Residential Contract. Both of these contracts have changed to handle the garage refrigerator in a very concise way.
The Naples Area contract reads:
…and together with the following personal property existing on the Real Property on the Effective Date: refrigerator(s);
Notice the “(s)” on the end? That was added to cover all refrigerators on the premises. Even wine coolers fall under that heading.
The State of Florida FAR/BR contract has the same:
Unless excluded in Paragraph 1(e) or by other terms of this Contract, the following items which are owned by Seller and existing on the property as of the date of the initial offer are included in the purchase: range(s)/oven(s), refrigerator(s)…
Again, we have the “(s)” on refrigerator to show that they convey.
Are there still problems with refrigerators?
Sure. A lot of sellers fail to read their contracts and not all agents seem to know what the contract says! That leads to the disappearing garage refrigerator problem when the sellers vacate their property.
What can be done?
The easiest solution is for the seller to bring the refrigerator back but sometimes it is too late—the seller may have put it on the curb for trash collection.
In this case, a credit at closing would need to be issued. The selling agent and buyer’s agent would need to work toward a dollar amount for the used refrigerator in the garage and credit that back to the buyer at the closing table.
Have you experienced problems with the garage refrigerator?
Let us know in the comments. I’d love to hear your story!
