Nothing is worse than listing your Beckley WV home for sale or Southern WV home for sale and not getting it sold. The average days a home is for sale on the Beckley WV Real Estate market is 141 days for all of 2014 and 149 for homes sold over the last 60 days. I have sold homes in as little 1 day on the market while others take longer. The last thing you want your home to become is the “one no one wants to buy.” Once potential buyers get it in their head no one wants your home, it leads to the perception that there is something wrong with your home, making it even harder to sell.
So how long is too long in the Beckley WV real estate market today? Well, my goal is to sell your home in 90 days or less. In fact most of the homes I list do just that. Does it mean everyone sells that fast? Absolutely not. But what it does mean is that if a home I list does not sell in 90 days, there is something we need to look at like issues with the home, or more commonly the price is too high for the area/features/issues. It’s not an exact science, but there are some helpful indicators. In a slow market, a sales period of six months to one year isn’t unusual. In a hot market at the right price any home should sell in 90 days or less. The best thing to do is look at recent sales reports of similar homes nearby to determine a comparable selling time. If your Beckley WV Home for sale is exceeding the comparable selling time of other homes in your area, then it is time to look at my 10 Suggestions for Getting Your Slow Moving Home Sold.
It does not matter what you paid for your house, it does not matter what you think it is worth, when it comes to selling your Beckley WV home, it only matters what someone else is willing to pay.
10 Suggestions for Getting Your Slow Moving Home Sold
1. Get an honest opinion of your home from yourself. How? By videotaping it and watching the play back. What do you see? Does it look different than what you see each day? Are there repairs needed? Is it clean? Is all clutter removed? Is it staged? And most importantly, if you were shopping for a home, would you buy your own home the way it is now? For the price you have it listed at today? Staged, clean, up to date homes sell faster than those that are not. Get it up to par and get back in the game.
2. Price Check on My Street. Just like a store, your home is your product and it is for sale. If the price is too high, then no one is going to buy it, no matter how great you think it is priced. In fact I will share a little secret with you that all the people that list with me hear, “It does not matter what you paid for your house, it does not matter what you think it is worth, when it comes to selling your Beckley WV home, it only matters what someone else is willing to pay”. You can decide whether or not you list your home but you cannot dictate what the market will value it for and how much it will ultimately sell for in today’s market.
Your realtor should prepare a Comparative Market Analysis or CMA is it is often called before you list your home. You should both agree on a reasonable price to list your home for based on this comparison, adjusting for various features and factors as appropriate. Now some realtors will try to buy the listing by suggesting a price for listing they think you want to hear, this is called “buying the listing” in the industry. If you want to weed these realtors out, ask them to show you a report of their average listing price to sales price ratio, if it is below 93% then find another realtor, because they are listing homes too high and having to discount them to get them sold. If the price is right, the Sales Price to Listing Price ratio should be 95% or more.
3. Leave The House During Showings. Nothing kills the mood in real estate like a seller hanging around during a showing. This makes the buyer less likely to open up about your home and share their true feelings. They are there to look at your home and try to imagine themselves living there. If they can see it, they just might buy it. Unless you plan to live with them after they buy it, you are not part of what they need to imagine, so get out, do some shopping, go to lunch, or the movies. The less you are there during showings the more likely your home will be sold.
4. Get The Feedback And Adjust – One of the things I do is call every agent that shows your home immediately after the showing to get their feedback. Then I pass it on to you with no filtering. If they say it needs updating, or if they say it needs repairs, I am going to discuss with you what we can do to get these issues resolved. Buyer feedback is an important step in the process and if you are not getting any from your current Beckley WV Realtor, then pick up the phone and ask them why.
5. Depersonalize Your Home. If your home is too much you, then it is probably no one else’s meaning they will not want to buy it. Feedback listed above is part of this process. Buyers should be saying what they dislike and like about your home. One of the things buyers do is try to image what they would decorate your home like if they were to buy it. If your home is not depersonalized, be it paint, flooring, pictures, or knick knacks, then pack them away, paint those walls, and replace that flooring.
6. Exposure, Exposure, Exposure and more Exposure – Selling your home is about exposure. I am convinced there is someone who wants and needs your home. But if they never see it, then they will never buy it. One of my key differentiators is the level at which I market your home. Online, in social media, blogs, YouTube, email, flyers, etc, no one will market your home more than I will. Why? Exposure, they have to see it to buy it and I do not want to miss even one potential buyer. And I want your help too! Yes you need to be the biggest promoter and advocate of selling your home. How? I will provide you flyers, emails, and links for posting to Facebook, Twitter, Linked In etc. And I want you to share this information with everyone you know and anyone that will listen. Why? Because getting your Beckley WV Real Estate sold is about…You guessed it…Exposure.
7. Make it Special and Offer Incentives. If your home is not selling or worse not showing, then it is time to make it special by dropping the price and or offering incentives to potential buyers and real estate agents. If you offer an agent a bonus for selling your home guess what, they will try harder to move it. And don’t forget the buyers, offer them something just for coming to see your home like movie tickets, ski passes, or even just cookies and refreshment. Oh, and a sure fire way to get buyers more interested in your home is to offer allowances and home warranties. Anything that can entice them to sell it for realtors, come see it for those looking, and save the best for those that buy your home. Making your home special will put you above the rest. And if it is priced correctly, it will be sold quicker rather than later. Oh and put time limits on your offers. If they sell it by x date you will pay a $2,500 bonus to the buyer’s agent.
8. Don’t Be Your Own Worst Enemy and Sabotage the Sale – some sellers get offended by what they consider to be low-ball offers. Trust me, any offer is good, and an opportunity to get your home sold. If you reject offers, are stubborn and unwilling to negotiate, then you are your own worst enemy. Ask your realtor what they think of the offer, what you should do, and what you should counter at if you want to at all. Your realtor should be able to be your guiding force on this and you should trust their judgment. But at the same time they should have facts to back up their position, so do not be afraid to ask them why. You are paying them for their expertise and the time to ignore their advice is not when an offer is on the table. Alienating a potential buyer who has solid financing because you’re not willing to deal with them is a sure way to not get your home sold. Make sure your agent puts any offers on the MLS so other agents are aware and ask them to share it.
9. Is Your Agent Getting The Job Done – If you are not hearing from your agent each week, then it is time to call them. Ask them to update you weekly on activity, showings, and how they are marketing it. If there’s no change, discuss the problem with the firm’s broker.
If there is still no change in their efforts, then time to fire your agent and broker. Again a differentiator for me as an agent is that if you are not 100% satisfied with my work, I will cancel your contract. Why do I make this offer? If I was not confident in my ability to sell your home then I would want to enforce the contract. But I am confident and I have never had anyone cancel a contract before it was up simply because they know no one would work harder to get their home sold. I am 100% about your satisfaction and my job is to get your home sold. There is a reason that I one of the top agents in the Beckley WV real estate market year after year. I sell homes fast.
10. When Too Long, Relist – If your home is languishing on the market, then take it off, freshen it up, address any issues, and then relist it again. At least it will get it back to the top of the list and back in the attention of the agents and their buyers. Relisting is subject to MLS requirements and your agent should be able to inform you of the rules.
Finally, if you have followed all my advice above and your Beckley WV home is still not selling, then it may be time to take it off the market. Markets change and if you have the right product, at the right price, at the right time, then selling your Beckley WV home is easy. If not, then it may take a while to get it right.
Do you have a Beckley WV home for sale that is not selling? Then call me today and I will come out and discuss why it is not and give you sound advice as to what you need to do to get it moving. No obligation, nothing to sign, nothing to pay. Just sound honest advice from one of Beckley WV’s top realtors, Betty J. Moore.
About the author: Betty J. Moore is a regionally recognized leader in Beckley WV Real Estate and Southern WV Real Estate market. Betty can be reached via the contact page on this web site or via phone at 304-573-4970. Betty has helped people sell their homes quicker than any other real estate agent in the market through her extensive marketing and has helped hundreds of people throughout her career find their dream home in the Beckley and Southern West Virginia real estate market. Betty was voted the number one realtor in 2012 by the readers of the Register Herald in their “Reader’s Choice Poll”. I have a passion for Real Estate and love to use my Beckley WV market expertise to gain maximum exposure for your home!
I service Real Estate sales in the following markets: Beckley Real Estate for Sale, Homes for Sale Beckley, Homes For Sale Beckley WV, Glade Springs Real Estate, Glade Springs Homes for Sale, Flat Top Lake Homes For Sale, Flat Top Lake Real Estate, Princeton WV Real Estate, Homes For Sale Princeton WV, and homes for sale in southern WV.