“Time is of the Essence” is not just a clever phrase. In real estate, it is the action term that sellers need to understand threads through every aspect of the sale of their property from the signing of the listing agreement to the closing. So; why is it that “34% of seller’s make it difficult for their realtor® to schedule showings or open houses?”
Hopefully I can help the situation.
Sellers, as soon as you sign your listing agreement your “home” is submitted into MLS and is available for buyers and realtors® to see. Your “home” is no longer referred to as a “home” in the world of real estate. It’s now considered a new product. Ouch! It may hurt a bit, but face it.
Now here is where your mindset has to change if you are part of the 34%. If you’ve ever sold a car you probably got it detailed, removed gosh knows what from the trunk and got it into buying condition. You also did everything possible to get everyone out there to know that you had a car to sell. You did everything to make it as convenient as possible to accommodate showing that car. Why? So you could get the money which would allow you to buy another car.
Excuse me, but that was just a car that you put all that effort in to. We are not talking about a car here. We are talking about your largest single investment. Think of it as a business and therefore your product must now compete with similar products presently for sale. Hopefully you’re getting it!
Right: Selling your home is a competition.
Here’s what we know:
- As soon as a new listing appears in MLS the largest pool of available buyers will check it out within the 3 weeks – after 3 weeks new buyers trickle in and the showings are less frequent
- Properties that are priced to sell – will be seen immediately
- Properties that are convenient for the buyer to preview, will be seen immediately
- Sellers who are realistic about the negotiating process will sell their property in a timely manner
…and so on!
If they can’t get into it when it’s convenient to them – they can’t buy it! Today’s consumer expects to be responded to instantaneously due to texting, emails, etc.
In fact; their patience for waiting on the internet is less than the blink of an eye.
People will visit a Web site less often, if it is slower than a close competitor by more than a quarter of one second!
So, what does that tell you about today’s buyer. If they cannot get into your property when it’s convenient for them they will immediately lose interest.
When you make it difficult for your realtor® to schedule appointments or open houses you will potentially lose the best buyer for your property.
Oh yes, you may sell your property… eventually. However, will it be to the best buyer? And, yes, by “best” I mean the buyer with the best offer for YOU!
The more convenient you make it for your realtor® to get as many buyers as possible to visit your property, the greater the opportunity the best buyer will show up and you can move onto your next home!
Next week it’s about Seller’s Mistake #3: Cluttered Space
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