Secrets That Sell Homes

So you want to sell a home in a buyers market? OK. Then I'm going to share a few things with you that YOU, as a seller NEED to hear. I'm not going to pull any punches... I'm going to tell you what many Jacksonville REALTORS? won't.

The first thing you should know as a seller is that Jacksonville has more homes for sale than buyers looking to buy a home. That's BAD news for sellers. Good news for buyers.

Why are there so many homes for sale? Because all the "investors" that bought homes 2 - 3 years ago are all trying to sell their homes now. New home builders (who are NOT emotionally attached to their homes) will do ANYTHING to sell their inventory too. New home builders can even sell a home for a loss and write it off against last years profits. You and ME can't do that can we?

The fact is: just like the stock market and EVERYTHING else - the law of supply & demand kick in when there's an excess of a commodity... PRICES DROP. There. I said it. If you own a home in Jacksonville or nearby areas, then chances are that it's worth less today than it was a year ago. You (and myself) join home owners across the country in areas such as Las Vegas, Orange County, CA, Pheonix, AZ, etc. in finding out that our home is worth LESS today than yesterday so don't feel too bad... you're not alone.

People that HAVE to sell for whatever reason are lowering their prices every month to try and get that one buyer. People who just want to sell because they want to "move up" or something have homes that just sit on the market for 6 months and expire because they think their home is worth more than their REALTOR? told them it was worth.

My advice: If you don't HAVE to sell now... then don't. If you HAVE to sell, then you HAVE to do these things:

1. Listen to your REALTOR?. If I thought I could sell your home for $400,000 then I would TELL YOU that I could because I would make more money. If I lay out all the facts regarding the "market value" of your home, please don't tell us that your home is worth more. It's not. If you don't believe me, then spend $300 and get a Certified Home Appraisal. If the appraisal comes back HIGHER than MY recommended sale price... I'll reimburse you the cost of the appraisal on the spot if you list your home with me and set the price BELOW the appraised value.

2. When you look at a "Comparitive Market Anaylsis" (CMA) to determine the "recomended selling price" of your home DON"T CHOOSE TO LIST ON THE HIGH SIDE! If you do, then you'll be chasing all the other homes in the area as THEY lower THEIR prices to try and sell. It's better to let THEM chase YOU. You want to "test the market?" Are you kidding me? If you want to test the market - stick a "For Sale By Owner" sign in the front yard and test it. I don't mind. Really.

3. It's YOUR home and you can sell it (or try to sell it) for any amount you choose. But don't get mad at US/ME if we get up and leave if you aren't realistic about the selling price. I won' t waste my time, my money, or my co-workers time trying to sell something I KNOW won't sell. I don't want to waste YOUR time either. Either price it to sell... or stay where you are for another year or two.

4. I'm amazed every week when I walk into a home that needs new carpet or painting or cleaning or some yard work, etc. and the home owner thinks that the home will command a "normal" selling price. It won't. If you smoke in your home, if you have smelly animals in your home, if your home is painted purple, green or neon yellow, you' re going to have to LOWER your asking price in order to sell.

Things That Drive Me Crazy as a Jacksonville REALTOR?

Homes in BAD condition. I mean come on, think about it. Don't YOU want your next home to be nice and clean with no holes in the walls? Maybe a little grass in the yard? If your home isn't the best looking (curb appeal) on the block AND THE BEST VALUE, it's not going to sell to anyone. Spend some money and get your home in shape to sell! Watch some HGTV shows to learn how! Channel 21 :) If you don't want to fix up your home, price it to sell it to someone who has the money to do it.

Case in point: I personally ran across a home that had been on the market for 6 months and didn' t sell. After looking at the home, I determined that it needed about $20,000 worth of repairs. The home was listed at $163,000 and I offered the seller $120,000. I figured that after MY expenses of repairs ($20,000) and closing costs ($ 5,000) and then re-selling the home (another $7, 000 or so) I could list the home at $173,000, hope for an offer of about $168,000 and make a profit of a few thousand dollars (after taxes). As an investor, I could only afford to pay $120K for this home and make any money when I re-sold it. After careful consideration ( of about 15 seconds) the seller decided to spend the $20K themselves and list at $173K. Better for them! If your home is in bad condition expect LOW OFFERS - if you even get any at all.

Sellers using the internet to determine a home value. There are new web sites popping up all over the place where anyone can enter their address and up pops a magic formula that tells them their home is worth X amount of dollars. WRONG! The internet doesn't factor in the condition of the home, the location of the home, did the neighbors home sell at that price because they were bankrupt or did they sell it to a family member? NEVER, never, never use the internet to arrive at a selling price for your home. It may be way high... or way low.

If you need new carpet - get new carpet BEFORE you list. Buyers don't care if you offer a $3, 000 "carpet allowance." That just means they'll have to go through the hassle of replacing the carpet themselves.

What's with the "Motivated Seller!" I see everywhere on the MLS sheets? Is there a "non- motivated seller" category that I missed somewhere? If your Jacksonville REALTOR? has to put THAT statement on a description sheet, then YOU need to reduce your asking price... because apparently you're not REALLY motivated enough to sell are you? You're just "testing the market" aren't you? Shame on you.

Offering a "bonus" to a selling agent. I see a lot of sellers so desperate to sell that they offer THOUSANDS of EXTRA dollars to any agent who finds a buyer for their property. Put yourself in the BUYERS shoes: If I show you a home, do YOU really care if I get a bonus if YOU buy a home? No? As a seller wouldn't it make better sense to reduce the asking price of your home to attract more buyers than offering a bonus to selling agent?

News Flash: MANY new home builders are currently offering a 5 or more to sell their inventory. (I know this because my wife and two good friends work for local new home builders.)

Ten Showings and no offers? If your home has had 10 showings and no offers - LOWER the price! The BUYERS are telling you, "We think this home costs too much for the asking price. As a matter of fact, I don't even want to make an offer because I don't want to offend the seller." And the " buyer suspect" will just walk out the door. Oh, like YOU have never gone into a home before and heard the sale price and thought, "Whew... that's WAY too much for this place, let's get out of here!" Of course you have.

Listed for 30 days and no showings? Statistics say that you should have between 7 and 10 showings within 30 days in a slow market ( yes, that's what we are in here in Jacksonville, Florida!). If you have had less than 4 or 5 showings in your 1st month - LOWER your price (if you want to sell that is) because your listing isn't generating enough interest.

If you HAVE to sell your home, please understand that it's our dream & goal to be able to list your home and have an offer on it within 30 days. None of the agents I know say " I have this great listing! I've spent $700 of my own money on marketing this home and it's had 2 showings in the last 90 days! I can't wait to spend MORE time trying to sell it and maybe it will even expire and all my work would have been for nothing!"

We work very hard to arrive at the figures we present to home sellers, but in the end... the PUBLIC determines the value of your home - not us and not you.

Ultimately, it's up to YOU as the home owner to get your home in shape to sell. It's up to ME, as a REALTOR? in Jacksonville to MARKET your home. If you don't mow the grass, put a fresh coat of paint on where it needs it, then all the marketing in the world won't help you find a buyer for your home in Jacksonville.

If you want a no nonsense REALTOR? who knows what to do to prepare a home to sell and how to market a home, then call me, Steve Burnett, at (904) 553- 6433. I'll tell it like it is. I never charge more than 4.75 co-op on the selling side and 1.75% for my side).

Remember - no matter who you choose to sell your home, it's up to YOU to make it sellable!

http://www.JacksonvilleHomeInfo.net http://www.SecretsThatSellHomes.com

Steve Burnett is CEO of Internet Concepts Unlimited Inc. and has been marketing online since 1998. Since retiring from Civil Service Steve has entered the real estate market as a REALTOR in Jacksonville, Florida