My Real Estate, Life Around Columbus and Updating My Early 1900's Home

Thursday, November 30, 2006

Answering "I've Got Mail?"

I have thought about it... "seller psychology coming in to this season" (see I've Got Mail?). And while I do not pretend to know what all Seller's are thinking, I can tell you from past and current experience what might be running through their heads.
In the next few weeks, you should start to see listings on the MLS start to expire or be withdrawn. These will be the Sellers who do not want to brave the harsh winter months on the market. Who wants to move during the winter? If they do not have to sell and are currently living in the home, they do not want to collect the "days on market (DOM)" and deal with showing the home during bad weather and the holidays. Most likely they will re list in the Spring when new buyers will be looking and their listing will look fresh.
I have had conversations with potential sellers and advised them not to list this late in the year and wait until March. What I would advise them to do, is take this time to make the repairs and updates they will need to perfect the home for when it does come onto the market. If they must list/sell the home, like I have said conservatively priced and be the best home in your price range. A home will sell quickly if it is priced right and exceptional. I have been interviewed by sellers to list their homes and have been told, "this is the price I need to get to sell my home", unfortunately, that's not the way it works. No-one or nothing but the current market dictates the price of your home.
And then you have the Sellers that have homes that are currently on the market and will leave them on the market for the winter. They want showing and offers. Any offer! They may not accept it, but they want nothing more than interest and hope. The best thing the agent can do is get feedback and opinion of price from the showings and try to adjust. If there were to lower the price at all during the winter, now is the time to do it, be proactive rather than reactive, you do not want to lower the price in the slowest month (January).

William Robbins
Gledhill Robbins & Talis Group
of HER Realtors

All information is believed to be accurate but not guaranteed.
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