Check yourself before you wreck yourself indeed! OH NO!!…. It’s been 2 weeks and my home has not sold, traffic to open houses has been slow, and private showing requests are not flying at me left, right and centre! My home must not be desirable, or my agent is incompetent and I now give myself permission to freak out!!
STOP!
As always, we are here to press upon you a checklist to go over before you officially have permission to freak out, or go all diva at your REALTOR (FYI - Going diva towards your agent is never a good idea, trust me, they want your home sold too!)
First and foremost, and we’ve already said this but we can’t stress enough about how the market has changed. Sorry to keep on repeating this but it’s true, and sometimes people don’t fully understand until they are in it. It’s not real until your home, which you are convinced is worth $1,000,000, sits on the market without even a ‘low ball offer’ after weeks!!
So this leads into our 5 step process to avoid ‘overreacting’:
2. Are you at the pricing your REALTOR suggested?
Again, if you feel your place is worth $50, $100, $150 thousand more than what your REALTOR is suggesting, in most cases your REALTOR will be more in tune with the market. Trust us, we want your unit to be worth as much as possible too! If this is the case, we suggest a common approach of trying the higher rate (in which you feel your home is worth) for a set period of time, then if unsuccessful, reducing to our suggested pricing model.
3. It’s only a few weeks and it’s also NORMAL!
A property being on the market for a month or two is totally normal in today’s market. It’s nothing to fear, it’s more reality. People were forced to move fast in the past, now it’s just back to a regular pace. So hurry up and wait as they say. As of writing this,we just found two of our clients a condo which had city, water and mountain unobstructed views, was a great price/sq.ft, a great area, a great size and guess what….. It had been on the market for 60 days! Yet they could not be happier!
4. Have you discussed how you’re property will be marketed?
If you have had a conversation with your REALTOR and they’ve advised you they are promoting your property via social media, open houses, MLS, website exposure and all the other avenues etc. etc. If you’re not reaching all avenues, make sure to ask your realtor (or switch if they’re not competent). Then sit comfortable knowing your home is being exposed through all the different channels available.
5. Are you working WITH your REALTOR?
If you’ve said ‘No’ to Open Houses or reduced availability for showings/opens, you’re home is not physically able to be reached by potential buyers. This isn’t to say it’s unsellable, however, it will drastically slow the process down.
So when your next thinking about losing your marbles (a british saying), check over the above list first. 99% of the time, by answering these questions you can put yourself at ease, and/or start to locate the problem and discuss it with your REALTOR.
Hopefully this has helped settle some nerves. We write about real life experiences and questions we receiver from viewers/readers/listeners. So, as always, feel free to send in your questions and we’ll do a piece for you in your real estate journey!
That’s it from us for this week! Remember to subscribe to our podcast The Vancouver Real Estate Audio Experience , and please, leave us a review and follow us on social media at https://www.instagram.com/realbenjaminrobinson/ and https://www.instagram.com/iamjaymcinnes/ .
Until next week!
STOP!
As always, we are here to press upon you a checklist to go over before you officially have permission to freak out, or go all diva at your REALTOR (FYI - Going diva towards your agent is never a good idea, trust me, they want your home sold too!)
First and foremost, and we’ve already said this but we can’t stress enough about how the market has changed. Sorry to keep on repeating this but it’s true, and sometimes people don’t fully understand until they are in it. It’s not real until your home, which you are convinced is worth $1,000,000, sits on the market without even a ‘low ball offer’ after weeks!!
So this leads into our 5 step process to avoid ‘overreacting’:
- 1. Ask yourself if you’re expecting your results based on previous years market activity?
2. Are you at the pricing your REALTOR suggested?
Again, if you feel your place is worth $50, $100, $150 thousand more than what your REALTOR is suggesting, in most cases your REALTOR will be more in tune with the market. Trust us, we want your unit to be worth as much as possible too! If this is the case, we suggest a common approach of trying the higher rate (in which you feel your home is worth) for a set period of time, then if unsuccessful, reducing to our suggested pricing model.
3. It’s only a few weeks and it’s also NORMAL!
A property being on the market for a month or two is totally normal in today’s market. It’s nothing to fear, it’s more reality. People were forced to move fast in the past, now it’s just back to a regular pace. So hurry up and wait as they say. As of writing this,we just found two of our clients a condo which had city, water and mountain unobstructed views, was a great price/sq.ft, a great area, a great size and guess what….. It had been on the market for 60 days! Yet they could not be happier!
4. Have you discussed how you’re property will be marketed?
If you have had a conversation with your REALTOR and they’ve advised you they are promoting your property via social media, open houses, MLS, website exposure and all the other avenues etc. etc. If you’re not reaching all avenues, make sure to ask your realtor (or switch if they’re not competent). Then sit comfortable knowing your home is being exposed through all the different channels available.
5. Are you working WITH your REALTOR?
If you’ve said ‘No’ to Open Houses or reduced availability for showings/opens, you’re home is not physically able to be reached by potential buyers. This isn’t to say it’s unsellable, however, it will drastically slow the process down.
So when your next thinking about losing your marbles (a british saying), check over the above list first. 99% of the time, by answering these questions you can put yourself at ease, and/or start to locate the problem and discuss it with your REALTOR.
Hopefully this has helped settle some nerves. We write about real life experiences and questions we receiver from viewers/readers/listeners. So, as always, feel free to send in your questions and we’ll do a piece for you in your real estate journey!
That’s it from us for this week! Remember to subscribe to our podcast The Vancouver Real Estate Audio Experience , and please, leave us a review and follow us on social media at https://www.instagram.com/realbenjaminrobinson/ and https://www.instagram.com/iamjaymcinnes/ .
Until next week!
Mcinnes Marketing
Jay Mcinnes
Jay Mcinnes
T: 604.771.4606
jay@mcinnesmarketing.com
Ben Robinson
T: 604.353.8523
ben@mcinnesmarketing.com