Happy New Year! While activity slowed down the last 2 weeks of 2019, my phone started ringing on December 26 and showing activity resumed immediately. If the last week of 2019 is an indication of what we have to look forward to in 2020, this could be a stellar year for home sales, and we could come out of a buyer’s market.
It always amazes me that this market can change overnight. While homes lingered on the market for 6 months or longer the latter half of 2019, I have already seen some of these homes go under contract this year. Many sellers chose to change Realtors after their homes did not sell, and I wanted to point out that sometimes, it is the market that needs to change, not the Realtor.
The two key factors that Realtors can assist with, and hopefully lead you towards a sale, are Price and Presentation. If your home does not have any showings, ask your agent to check with other agents with listings in the neighborhood-if their listings do not have showings, then it is a market issue. If other listings have showings, then you and your Realtor need to re-evaluate the price or presentation.
It is important to understand that the real estate market is fickle, so both the Seller and their Realtor need to constantly monitor the market and gauge the response from the public once they have settled on a price. What may have started as a reasonable list price could change as other seller’s lower their prices in reaction to the market. A price reduction does not always mean that a house was over-priced to begin with, but it could be that the market (or buyers) did not respond to that price.
The Presentation of a property incorporates the photos, staging, and the way a home is marketed. Presentation is everything that a Realtor does to bring buyers in to see your home. If the home is presented and marketed well, but buyers still aren’t making an offer, it is time to evaluate the price again. There is a saying in the industry, “Every home will send in any market at the right price.”
If the market is not accepting a price that you agree with or are willing to sell your home, it may not be the right time to sell your home, so talk to your Realtor about your options.
January is a month for paying property taxes, HOA dues, and making New Year’s Resolutions. At Energy Realty, our resolutions for 2020 are as follows:
Share some of your New Year’s Resolutions on our Facebook or Instagram Page. If buying or selling a house is one of your resolutions, we hope to help you reach that goal.
Writer – Sherry Campbell