Seller Apathy = No Sale
I am working with a very high quality, well qualifed, referred buyer in the upper price range this week.
Upper meaning $699,000 to $1,150,000 asking prices.
Most of the homes I have researched for my clients do not have lockboxes and require appointments to see, which makes it difficult.
Many agents would not even bother to show a home without a lockbox because they equate that to the seller not caring if they sell.
As most of you know, I don’t like to show homes I haven’t seen because I have always believed that I should know at least a little more about the home I’m showing than my buyer does.
So, that means previewing ~ that fun process of traipsing in and out of homes before I show them when it’s 102 degrees.
I have driven by or previewed between 15-20 homes for this buyer and eliminated all but 7 homes for a variety of reasons.
Here’s what I’ve encountered to date with my efforts on behalf of this client:
- One seller was obviously irritated that I wanted to “preview” her home (“will you have your buyers with you?”). Her listing agent has obviously not explained the concept of agents previewing homes to her.
- That same seller again sounded irritated that I wanted to show her home today and demanded a precise time I would show up with my buyers. Precise times are impossible when her home is #5 in my showing sequence and the homes I am showing are all 4,500 sq. ft. or more. I have no way of knowing how long my buyer will linger in the homes ahead of hers and I will not rush them just to satisfy her demands for a precise time. (we finally compromised on a two hour “window” after I told her that we didn’t need to look at her home if it was too much trouble).
- Another listing agent took several days to get back to me to allow me to preview her $999,900 listing. Seems her seller was out of town, no lockbox, she didn’t have a key, and couldn’t reach her sellers.
- Yet another listing agent wanted to accompany me on the showing so she could “sell” the benefits of the home to my buyer. I think my savvy buyers can actually figure out for themselves if they like the home, then we can ask her to explain things later if we have questions.
- Another seller of a $1m+ home doesn’t have a sign or a lockbox. (“oh no, what if someone finds out our home is for sale?”).
Interestingly, a couple of listings agents actually know how to get their listings sold and are having their sellers open all of the window blinds, turn on the lights, and make their listings look attractive.
One is even going to move the boat out of the separate garage and wanted to play music and run a movie in the theater room. She probably would have baked fresh chocolate chip cookies if I hadn’t discouraged it! (P.S. ~ the seller is a real estate agent).
I am showing 7 very sharp homes today, most of which should meet my buyers’ criteria.
It will be interesting to see my buyers reactions.
Only 17 of the 2,975 YTD closed sales in Ada County went for more than $700,000.
That works out to .57% – considerably less than 1% of all YTD closed sales.
If you’re a seller, you’re not in the driver’s seat and you need to do everything you can to get your home sold.
That is, if you actually want to sell it.
July 23rd, 2009 Posted in Inside Real Estate
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