Real Estate Staging / Home Staging Blog

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Professor Realtor... Can You Teach Me SOLD?

We all know that even though the market is "bad" homes are still selling. Of course you don't have to be a genius to know that they are not selling at the rate they used to... but they are selling.

So if you have clients trying to sell their properties yet asking the question, "Why isn't my home selling?," The answer. to what they think is a profound question, is actually quite simple... but a bit multifaceted. Let's face it; what they need to be taught is that the sale of a home in today's market really is just dependant on a few basic principals that must be mastered and advantageously applied.

The first lesson, teaching a seller that hiring the right listing AGENT, is the trickiest. Picking and working with a savvy and strategic Agent who is both skillful with a variety of marketing tactics and who is also adept in working through a myriad of sales issues, that can stop a sale once a buyer makes an offer, is crucial. A wise and learned Realtor, who has a proven track record and that demonstrates they have mastered both the marketing side and the sales side of real estate, will sell a property and is worth every penny they are paid.

The second lesson, sellers must pass the class on, is PRICE. Above all else they need to understand that asking price of a home today can not be dependant on what the price would/could have been in the "good old days". The price of a home must be appropriate for today's market... AND, because there are so many other homes in the market, it also needs to be aggressively competitive. Home buyers want and will spend the least to buy the most they can. Sellers, who hold out for more, will end up getting a detention... that is, MORE time on market.

The next lesson to cover is on CONDITION. The educated know that the better the condition a seller's home is in, the more attractive it is to buyers, who do not want to spend their money repairing and making simple updates once they take possession.  So while teachint sellers that hiring a home inspector, who focus more on structural and mechanical conditional issues, you may want to expand your seller's knowledge and share with them the advantage of working with a home stager. Stagers will help sellers address and tackle the numerous smaller maintenance details and repair concerns that influence potential buyer's perception of condition.

The fourth lesson is a multifacited lesson on PRESENTATION.  Presentation issues, which takes place both on-line and on-tour, is a class even some Realtors could sit in on... Better photos capture and tell a better sales story. Gone are the days when a Realtor could take poor quality digital snapshots and loaded them into an MLS system. Today's buyers, who lives are busy and hectic as a seller's, use the Internet to prescreen properties. In addition to having quality photos, sellers must learn the importance that their property must look great when being toured by a buyer. Master Realtors know that experienced home stager will guide and direct your sellers to set and present their homes so they can be easily toured and distinguished from your possessions in it.

The fifth and final factor is not so much a lesson, but more about participation. A seller must be and stay INVOLVED. Sellers need to know the importance that they raise their hands to fully share concerns, needs and objectives right from the start and continue until the property is sold. They must also realize that while candid honesty is key, it must also be two way street. Sellers, who stay informed, watch the market conditions, objectively listen to the feedback after showings and positively act on key information will find their home sold.

So that's it... those are my my basic lessons that influence the sale of a home in this buyer's market... which can be a tough class to pass. How sellers choose to work with and apply the knowledge gained in these lessons will ultimately result in a pass (sold) or fail grade in home selling.  It's our job to make sure they know.

Teach It Sold...
Me

Comment balloon 16 commentsCraig Schiller • June 02 2008 08:03AM

Comments

Many forget what are the stat's be above the rest of the pack it all depends on everything to sale something packaging and presence. Dallas homes for sale, Call 972-699-9111 Lynn 911 Dallas Top Real Estate Agent Team, Dallas homes for sale, Dallas home foreclosures for sale, Dallas apartments for rent, Dallas condos for rent, Dallas apartment rentals, http://www.lynn911.com , http://www.homes-for-sale-dallas.com,

Posted by Lynn911.com ~ Dallas Real Estate Agent Top Team (Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com ) over 12 years ago

Craig,

Great post and right on point. Homes are selling and if you have the right elements in place, there are buyers in the market and they CAN get loans. I like how you put getting the right agent up top - even though there are tons of REAs in the market, there are few truly good ones. Hiring the right person makes a ton of difference.

Thanks, Thomas

Posted by Home Staging (Showhomes) over 12 years ago

An excellent article on the key issues sellers face today. WHile they are simple in theory, they are often not so simple to put into practice for various reasons. The folks who graduate from this school will reap the benefits of a sold home, rather than having to go through remedial training.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.) over 12 years ago

This is a great post.  I think the photos (online presentation) is really important. I was having this conversation with a seller of mine.

Posted by Chuck Carstensen, Minnesota Real Estate Expert (RE/MAX Results) over 12 years ago

Craig - Glad to hear from you!!!  The teacher in me loves this post!

Posted by Maureen Maureen over 12 years ago

Yep -- ALL of those factors, if addressed properly, can contribute to a quick and even profitable sale!

Posted by Tori Lynn Wallitsch (Prudential Ambassador / Ross Designs, LLC) over 12 years ago

You have written a very true tutorial on the importance of presentation.  If the property is presented properly by the right Realtor it will sell quickly.  Thank you again Craig!  

Posted by Cathy Lee, ASP, IAHSP, RESA Danville, CA (CL Design Services Home Staging) over 12 years ago

Craig,

You can't just be a little better than everything in your price range, you have to be a lot better.

Posted by Susan Peters, The Better it Looks the Better it Sells (Dove Realty Inc.) over 12 years ago

Well put.  The factors that influence a sale most in a slow market are Location and Amenities and are out of the seller's control, but can be compensated for in price.  Buyers are pickier than ever.   Then if you can't get to the first curb appeal drive by (on the internet), well then the curb appeal actual drive by won't ever happen.  Then when they come inside it better be consistent with the other drive by's (internet and actual) and meet the expectations presented from the beginning.  A chore for sure, doable with the right combination of circumstances and a Stager, Realtor and Seller that understand the importance of each element.  TEAMWORK

Posted by Terrylynn Fisher, HAFA Certified, EcoBroker, CRS, CSP Realtor, Etc. (Dudum Real Estate Group - BuyStageSell.com) over 12 years ago

Hello Craig!  Today's real estate market is soooooooo different than the one last year.  Your points were well-written.  The REAs must be on top of the game with marketing...the pricing must be apples to apples and competitive....the presentation and up-to-dateness seems to be pivotal for the sale!  If the property does not show well on the Internet....the buyer pool immediately shrinks in quantum numbers.  I hope that sellers read these important points you highlighted....Good Job!  Regards-Kathleen G

Posted by Kathleen Garvey, Denver's Neighborhood Expert - Listings & Sales (HomeSmart Cherry Creek - Denver) over 12 years ago

Craig - nicely presented. Those are all points I have been emphasizing with my prospects. Especially involvement.

Posted by Mike Saunders (Lanier Partners) over 12 years ago

This is what the sellers need to hear (often, more than once) Times are a changin'

Posted by Karen Dembsky, Atlanta Home Staging (Peachtree Home Staging LLC, Home Staging in Atlanta, GA) over 12 years ago

Craig...you have once again hit the proverbial nail on the proverbial head!  I just used the quote from the old oldsmobile commercial..." It's not your Dad's oldsmobile "...today's Real Estate " Is not your Dad's Real Estate ".  Well done my friend!  Miss you!

Cheers!

Posted by Gina McNew, Host of Diva in the House - The Voice of Real Estate Staging Radio (diva la difference interiors) over 12 years ago

While I'm late to the party, I have to let you know that your work and your commitment to the industry are very much appreciated. Thanks Craig, for going the extra mile.

Posted by Yvonne Root, Home Stager - Northern Arizona (rooms b.y. root) over 12 years ago

Hi Craig,

  Price, Price, Price, Is that why my special property didn't sell? BTW, Did you get my message the other day?

Posted by Judy Greenberg, Coldwell Banker - Buffalo Grove - Long Grove Homes (Coldwell Banker Long Grove) over 12 years ago

Very well put. Seems so simple yet many make it difficult!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) over 12 years ago

Participate