Scott Carter's blog

A Startling Home Pricing Statistic

I am a fan of statistics.  The numbers tend to take the questions out of problems and lead me towards a correct and high probability of success.  There are a lot of statistics in real estate.  Many of which are useful.  Items such as average days on the market, list price/sales price ratio, how many months of inventory there are at any given time and price per square foot can tell us and the public how much a home should be listed for, how long it will be on the market and what it should sell for.

I was recently asked by a home seller who had their home listed “Why didn’t my home sell”?  I decided to look at the withdrawn and expired listed properties for the last 12 months in their market.  What I found was startling. 

3 Stories From a REALTOR®

These stories are all true – Just the names have been changed, to protect the innocent……

#1 - The Basement:  I was showing this home that was vacant and had no electric.  It was during a sunny day.  We were going through the first floor and I opened the basement door.  All I could see was a large number of small red reflections from the ambient light on the first floor.  Not sure what I was looking at, I asked my clients not to go down to the basement and I went back to my car and retrieved my flashlight (good Real Estate Agents are always prepared, or so I tell myself). 

I am a REALTOR® and I Need Your Help

Let’s pretend I am your Realtor® and I am representing you in the sale of your home.  My prime directive is to get you the highest possible price at the best terms. 

My job description includes marketing your home with the best possible sources.  I will work to negotiate the best results on pricing, terms and inspection requests.  I am also charged with managing the process from before your home goes on the market to the closing.  I will have successfully completed my job if I have met and hopefully exceeded your expectations.

This is where I need your help.  I don’t complete my job in a vacuum. 

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