Maryland Area Homes for Sale

For Home Sellers


Marketing Your Home! 

There’s Only One Reason Why Your Home Didn’t Sell and It Isn’t Price!

The Reason Homes Don’t Sell

Is it As Simple As the Price? Many times, It’s Not

No matter what town, city, state or province in the United States you are in, there is only one reason why a home does not sell: Marketing. That’s right-the only reason a home does not sell is due to ineffective marketing. Overall marketing is the overall reason.

Far too often, when a home does not sell, many real estate agents point to price alone as the reason. Leading real estate agents, along with most home sellers, however, believe there are usually many other factors involve, too.

 

But What About Price?

While, technically, it may be true that any home can sell if the price is lowered enough, the agent you select should represent a more nuanced, diagnostically comprehensive understanding of why home, in general, do not sell. Conversely, one-dimensional, price-only thinking is a convenient excuse for those agents who lack the necessary skills to effectively market a home.

 

Many well-informed home sellers also understand that there are many other key factors beyond price that contribute to their home not realizing the desired results, such as:

 

  • Ineffective marketing (advertising)
  • Inadequate merchandising (staging)
  • Insufficient networking
  • Unsuccessful negotiating
  • Lack of information technology

 

Don’t Overlook Price, Though

Price is one of the many vital marketing factors that influence the sale of your home. As you re-evaluate the proper pricing strategy for your home, request and updated market analysis form your real estate agent. Make sure that it details the current pricing trends for your overall marketplace, including:

 

  • Days on the market for properties in your specific price range
  • The list-to-sales price ratios for homes that have sold (the more recent the better)
  • Square footage cost (ask agents how and if cost per square foot may be relevant to price)
  • The number of price reductions or, where applicable, the number of price increases
  • The number of home currently active in your price point
  • Any other information your agent can provide that relates to selecting the proper price

 

When re-evaluating price, keep in mind that in specific circumstance, a lower listing price can actually lead to a higher selling price.

Because the laws of supply and demand essentially govern all pricing, a lower asking price can in many cases, stimulate greater demand. Greater demand frequently leads to higher prices. Discuss with your Real Estate Agent the current supply and demand metrics influencing home values in your neighborhood or marketplace. Also consider the following when pricing your home:

 

  • Some buyers in certain markets will not even consider a property unless there has first been a price reduction. If you are in an active seller’s market, this should not be a concern.
  • Buyer’s typically select a property after exhaustive shopping. Since buyers are prone to shop in one price range, they come to recognize value in a specific price range more quickly. Overpricing, therefore, can carry with it a significant penalty.
  • A significantly overpriced property is less likely to be shown by real estate agents. A lower price can reduce days on the market, thus avoiding the stigma of longevity and protecting the price integrity of the property.

 

If your marketplace is one where there is appreciably greater supply than demand, you might want to ask an agent if ti would be prudent to offer creative buyer incentives, such as:

 

  • Offsetting closing costs
  • Paying points on their mortgage
  • Buying down an interest rate
  • Offering inclusions
  • Closing date flexibility
  • Home warranties

 

Note: Ensure that all such incentives comply with the appropriate regulatory real estate practices in your state or province.

 

Interview Your Prospective Agent

 

  • What is the difference between a real estate marketing agent and a real estate sales agent?
  • How is marketing different than advertising?
  • How is marketing different than real estate personal promotion?
  • How do you market offline as well as online?
  • How do you market to other real estate agents?
  • How do you market to niche or segmented prospective buyers?
  • How do you market to relocation and referral buyers?
  • How will you develop and customize the marketing for our home?

Real Estate Networking

Skillful networking by the agent representing you is instrumental in both mobilizing and inspiring other real estate agents regarding the sale of your home. Here are some networking related questions to ask your prospective real estate agent:

 

  • What is your networking strategy for the sale of our home?
  • What are your most effective methods of engaging and exciting out of area agents who might ordinarily overlook our town and our home?
  • Tell me about your various referral networks
  • How do you educate and network with other real estate agents beyond the MLS and Internet regarding our home?
  • What will you do to get other agents to preview our property?
  • How do you follow up with other agents?

Trust in Negotiation!

Make sure you fully trust your agent as others will need to. Trust is critical in real estate negotiations.

Selling your home shouldn't be a stressful ordeal. Making the smart move of choosing a REALTOR® is your first step to ensuring that your investment in your home pays off. My services and experience allow you to focus on your move while I manage your home sale from our initial consultation to the closing deal, and beyond. I pride myself on repeat business and hope you'll come to understand why.

What I will do for you
Recent Home Sales
Getting the highest price
Closing Costs

As Your Agent, I Will:

  • Complete a comparative market analysis that will compare your home's value to that of your neighbors.
  • Compile a comprehensive plan detailing all the efforts I will employ to sell your home, including Internet and local media.
  • Present your home to as many qualified buyers as possible getting your home maximum exposure.
  • Help you stage your home and generate curb appeal to ensure you get the highest price.
  • Assist with obtaining offers and help you in negotiating the best deal as smoothly as possible.
  • Help you find your next home and answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.

Recent Home Sales

What are homes selling for on your street? Use HomeRadar.com to find out what neighborhood homes are selling for, free of charge, or choose a more detailed analysis of the value of your home.

Getting the Highest Price for Your Home

Curb appeal is key and could make a difference whether people stop and take a flyer, or drive right by. Here are a few tips to increase the curb appeal of your home. Staging your home is important. Many buyers will stay in your home longer if it's staged appropriately. I have compiled some ideas to present your home in the most effective manner.

Closing Costs to Expect:

  • Title insurance fees depend on the sales price of the home.
  • Broker's commission is a full-service fee and will cost anywhere between 5% to 7%.
  • Local property transfer tax, county transfer tax, state transfer tax, and state capital gains tax are the charges that you'll pay for the privilege of selling your home. Credit to the buyer of unpaid real estate taxes for the prior or current year are variable and depend on when you close and when your taxes are due.
  • FHA fees and costs are all fees are now negotiable between an FHA buyer and seller.
  • Home inspections fees are in some circumstances paid for by the seller and include pest, radon and other inspections.
  • Miscellaneous fees can accrue from correcting problems noticed during the home inspection.

Find out how much your closing costs could be.

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Lavina Samtani