How closely are you monitoring your client’s satisfaction gauge? After 100 days of marketing, should a seller have the right to “fire” you? I am an active member of Trulia’s Voices, which is Trulia’s discussion forum where buyers, sellers, agents or other real estate professionals can exchange ideas, questions and answers on a multitude of topics. The image you see above is an alert that is emailed to me each time someone posts a question in the home seller category in NJ.
Last week, a Home Seller in Gloucester County NJ expressed public dissatifictaion with his or her Realtor/agent. The poster, named 4ofus, wanted to know who was or the top selling agent in Gloucester County since his/her 3 year old home was on the market for 100 days and has yet to sell.
After 100 days of marketing, is it fair of a seller to ask for another agent? Is it justified to “lose” your exclusive listing agreement simply because a property has not sold after 100 days of marketing?
17 asnwers later, 4ofus received advice primarily from agents who did not side with the seller but rather reminded the seller of outside factors that can and often do affect a property’s marketability.
Here are the top 5 variables that can and often affect’s a property’s marketability.
1. Price: A seller’s agent will prepare a market analysis of a home’s approximate value but ultimately a seller sets the price. Price is the most important part of a marketing plan. If a property is not priced correctly, it is likely to remain on the market for lack of buyer’s interests. If buyers do not see the value in a home, they will not buy said home, especially in markets where there is plenty of inventory.
2. Location: Is the property located in a desirable section of town? School District? Walking distance to public transportion or excluded from other neighbors (It all depends on what is desirable for buyers in that area). Busy Street versus on busy street. Corner lot versus non-corner lot.
3. Condition: Is the house clutter free? Freshly painted with neutral tones? Free of an overbearing personality or overbearing furniture? Updated versus not updated.
4. Accessibility: 24 hours notice versus vacant with real estate lockbox; or key at the real estate office versus key on site in a lockbox. Open to short notice appointments versus some notice or even canceling apointments when notice is not given.
5. Presentation of information (advertising)-property description, pictures or lack there of, exposure of listing details albiet on-line and off-line.
The top 4 are all controled by the seller.
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