Let's change the meaning of YOLO from "you only live once" to "you only list once". When you decide to list your house for sale, list it like it is the first, last, and only time you are going to. Because, if you list it more than once...it's going to hurt you.

Selling your home begins in a hopeful manner.

When you decide to list your home for sale, you probably don't expect it to not sell the first time you list it for sale. Quite the opposite... Most people think their house will sell quickly. You hire a real estate agent. Pictures are taken. The house is entered into the multiple listing service. Open houses are scheduled for the first weekend. Ads are run.  Your home gets put on the Internet in more places than you can ever imagine, with just the click of a few buttons. How could it not sell?

Avoid withdrawing or expiring.

Alot of times, homes don't sell quickly. Or at all... If a house doesn't sell quickly, many homeowners start to get discouraged, even after just a few weeks. It gets worse if it starts stretching into months and months. Many homeowners start to wonder if their real estate agent isn't getting the job done, and they start considering either "withdrawing" their listing, or letting their contract with the real estate agent "expire", and plan on hiring a different agent. Some homeowners have total faith in their real estate agent. They want to stick with the agent they have hired. 

Big brother is watching.

Remember this from earlier? With just a few button clicks, your house gets distributed all over the Internet... In some ways, this is great. Your house is exposed to the entire market quickly and efficiently. In some ways it's bad, though... Not too long ago, it was pretty difficult to figure out if a home had been listed more than once, or for how long it was on the market. Real estate agents had access to the information, but consumers did not. Now, everybody and anybody can see:

  • If a house has been listed before.
  • How many times it has been listed.
  • How long it's been on the market.
  • And even more information...like if there's any pending foreclosure, for instance.

Basically put, more information is available than you would ever want made available. And you have no control over it. Nor does your real estate agent. All of this information is "scraped" and aggregated by real estate websites, like Zillow and Trulia. Back in the day, it was no big deal to withdraw your listing, or let it expire, and relist it. Few people would be aware of it, unless a real estate agent dug up the information and chose to share it with their client. Now, a buyer would almost have to deliberately avoid seeing this information.

So, what's the big deal?

Whether it's right, wrong, or somewhere in between, the number of times your home has been listed, and the length of time your house has been on the market, affect how buyers perceive your home and its value. This stinks, because you can have absolutely valid reasons why your home isn't selling quickly... Perhaps it's a supply and demand issue. (Too many houses available and too few buyers buying houses.) Or maybe you have a high-end home, and there just aren't many sales in the price range, so it takes quite some time to sell. Those sorts of reasons are valid. There's nothing you can do to affect that. And it's awful (for sellers at least), but the Internet and available information can cause buyers to sense that the house isn't selling because "something is wrong". Or buyers may feel like, "since the house has been on the market for so long, the owner has to be negotiable or desperate." There's plenty of other legitimate reasons a house may linger longer on the market... But way too often, the reason houses linger on the market is because homeowners list their home for way too much money. And, quite often, don't reduce their price to be in line with the market and actual value. That you can, and should control... Otherwise, you're causing buyers to dismiss, overlook, or undervalue your home...because the Internet.

So, here's what you do...


Control what you can control.

  • Make sure you hire a real estate agent who gives you an honest assessment of your home's value.
  • Do not hire an agent that simply says your home is worth the amount you want to hear. Or one who agrees to list your house for a higher price than they recommend, just to appease you and get your listing.
  • Price your home appropriately within the market. Price it to sell...not to linger. (This does not mean "give your house away". There's a fine line and balance. A good agent will help you find that perfect balance.)
  • If your home is not selling, assess whether the price is reasonable for the market. If it's, be patient.

GroupWatson understands the local market and will formulate a Marketing and Pricing Strategy to maximize a home's exposure to consumers, minimize the number of days on the market, and yield the most return on what is most people's largest investment, their home. 

Call or Email a GroupWatson Specialist today!

972-370-1775 today for more details of how we can help you list and SELL your the FIRST time!

*GROUPWATSON'S FEATURED LISTING OF THE WEEK*

11028 Coventry Lane

 

PROPERTY DETAILS
$550,000
LISTING INFORMATION
MLS: 13696654
Bedrooms: 5
Full Baths: 4
Partial Baths: 0
Sq ft: 4804
Lot Size: 0.270
Garage: 3
Heat Source: Central Air-Ele
Taxes: $0.00
PROPERTY DESCRIPTION

$5k Buyer Credit! Classically Designed Sotherby Home on an Oversized Corner Lot! 5 Bdrms, 4 Baths, 3 Car Gar, Game Rm w'Wet Bar & Media Rm. Welcoming 2 Story Entry w'Iron Door, Hand Scraped Hardwoods, Study w'French Drs & Frml Dining Highlighted with Curved Walls & a Crystal Chandelier. Lge Living Rm has Vaulted Ceilings, Cast Stone Gas Log FP & Surround Sound. Island Kitchen w'Built in Desk Area, Granite, Elegant Lighting, SS Appl's, Gas Cooktop & Dble Ovens. Master Suite w'Plantation Shutters, Tray Ceiling, Crown Molding, Granite Counters, Oversized Shower & Jetted Tub. Guest Suite Down. Media Rm Speakers, SCREEN & PROJECTOR STAY. Private Backyard w'BOB Fence, Lge Flagstone Patio & Pergola w'Ceiling Fans.

CONTACT INFORMATION
Scott and Tammy Watson
GroupWatson, Keller Williams
4862 State Hwy 121, Ste. 210
Lewisville 75056

Phone: 214-682-7002
Fax: 214-522-5519
http://www.groupwatson.com/
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