To be Clear: There are two Reasons your Property isn't Selling
Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
To be Clear: There are two Reasons your Property isn't Selling
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Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
3yThere are always two reasons????!!! I respect this tough topic being taken on and the input given - but geez - real estate isn't that simple. Price is a deterent for buyers who don't have the guts/intelligence to counter it and make the deal seamless to show the seller that a lower price but a cleaner deal is the best. I do know that when the price is wrong, it can sure belabor the process yet I see too many realtors telling sellers that the need to lower the price when the real issue is valuation - what is it worth? Leaving money on the table is a sin...
And, a realtor's performance isn't measured by tasks but by how well the property represents the targeted market and buyer. Any idiot can put a sign in the yard, have nice photos taken, and put it on Zillow. What a real estate professional can do is get on the phone and sell it with or without all of that. Don't blame the realtor...guess who hired them.
Just my opinion. No need to respond/reference me/argue points...again, just my take as an investor, broker, and developer. Happy holidays...
5 Replies
- Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes3y
There are always two reasons????!!! I respect this tough topic being taken on and the input given - but geez - real estate isn't that simple. Price is a deterent for buyers who don't have the guts/intelligence to counter it and make the deal seamless to show the seller that a lower price but a cleaner deal is the best. I do know that when the price is wrong, it can sure belabor the process yet I see too many realtors telling sellers that the need to lower the price when the real issue is valuation - what is it worth? Leaving money on the table is a sin...
And, a realtor's performance isn't measured by tasks but by how well the property represents the targeted market and buyer. Any idiot can put a sign in the yard, have nice photos taken, and put it on Zillow. What a real estate professional can do is get on the phone and sell it with or without all of that. Don't blame the realtor...guess who hired them.
Just my opinion. No need to respond/reference me/argue points...again, just my take as an investor, broker, and developer. Happy holidays...
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes3y
@Patricia Steiner
I think the original post is because there have been ALOT of posts in BP recently with people asking “why is my property not selling”
And many of these are homes overpriced and pics that are awful. I saw one that needed work and they literally took a picture like standing on the tub looking down in the bathroom with the toilet open and it was not clean it had something in it….
7e investments53 Reviews Quote from @Chris Seveney:
@Patricia Steiner
I think the original post is because there have been ALOT of posts in BP recently with people asking “why is my property not selling”
And many of these are homes overpriced and pics that are awful. I saw one that needed work and they literally took a picture like standing on the tub looking down in the bathroom with the toilet open and it was not clean it had something in it….
Post that photo here. Lol
If you included the address, there might be some investors make an offer on it. :-)
- Lender · rate.bid · Member since 2022 · 324 posts · 62 votes3y
@Rick Albert:
Hello All,
I'm seeing posts asking why their property hasn't sold or rented. There are ALWAYS two reasons why a property hasn't moved.
1. The first is the price. You are priced high and need to lower it. You can't make the argument that it is because of the floor plan, busy street, etc. because for the right price someone would buy it.
2. The agent listing isn't performing. It's not always about price, but how your property is presented and who is seeing it. Are there professional photos? Is your Realtor asking for feedback from the showings? Is it posted in the MLS and syndicated to the popular websites like Zillow? There are many more questions to ask. Sometimes good and expansive exposure is all the property needs.
I thought I would share this thought.Fortunately or unfortunately, you are actually going to encounter more of these instances of stagnant inventory. The effects of the multiple rate hikes by the feds have been or is starting to kick in. Rates have almost doubled in the last few months so cost of funds is significantly higher for many prospective buyers . With limited access to credit, unsold inventories will increase and so will the average days to sell in some if not most markets (but that is just the start).
- Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes3y
Quote from @Frank Greg:
@Rick Albert:
Hello All,
I'm seeing posts asking why their property hasn't sold or rented. There are ALWAYS two reasons why a property hasn't moved.
1. The first is the price. You are priced high and need to lower it. You can't make the argument that it is because of the floor plan, busy street, etc. because for the right price someone would buy it.
2. The agent listing isn't performing. It's not always about price, but how your property is presented and who is seeing it. Are there professional photos? Is your Realtor asking for feedback from the showings? Is it posted in the MLS and syndicated to the popular websites like Zillow? There are many more questions to ask. Sometimes good and expansive exposure is all the property needs.
I thought I would share this thought.Fortunately or unfortunately, you are actually going to encounter more of these instances of stagnant inventory. The effects of the multiple rate hikes by the feds have been or is starting to kick in. Rates have almost doubled in the last few months so cost of funds is significantly higher for many prospective buyers . With limited access to credit, unsold inventories will increase and so will the average days to sell in some if not most markets (but that is just the start).
This will happen is many markets. But with the right price the property will move. There are also 2/1 buy downs and ARMs to consider.
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