When we list a property, the owner has given us permission to try to sell their property and put their faith in our ability to accomplish what they themselves could not do. Most of us will usually do the best we know how to sell the property. We list the property in the MLS, on our web site, advertise the property in newspapers, magazines and more. We pay for these marketing tools and at the end sometimes the property does not sell. When a property doesn't sell, the Questions I always ask myself are "Did I price the property right?", "Did I miss some outstanding problem when I walked through", "Are my advertisements working", etc.
Most of the time the answer is that I have done everything correctly. Then why didn't it sell? So what's the problem? The property not sell, could be for many reasons some of which are not things that we can control. Recently, after one such incident, I was sitting and watching TV. I noticed in less than hour there were multiple stories about the bad real estate market, housing prices falling, bank takeovers and the stock market being in trouble.
The media is filling the buyers and sellers minds with so much bad news that most are afraid to do anything. They're like a deer in the head lights of an oncoming car, frozen, unable to move. The sellers don't want to lower their prices because if they do and the market turns around they will kick themselves for selling to low. On the buyers side they are not sure the market has bottomed. They don't want to buy because they may get the property for less if they wait. OK, the media is a very big part of the problem, how do we solve it? We should have an answer, we are smart people and that's what property owner pays us for.
Bob
WHAT'S THE PROBLEM?
7 comments • Robert Calistri - The Auction Specialist • September 13 2008 03:26PMComments
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You can always contact the news stations and let them know that your market is not down and that houses are selling or whatever the reason be. Only a suggestion.
The media has an agenda (political). It wouldn't do any good.
Right and the average guy is getting killed.
Bob
We can blame the media but there are many factors at work when a particular house does not sell. For example, power lines are now becoming an issue in NJ. Many very beautiful homes were built near power lines, that is they are either visible from the property or when you drive down the street to the property. We just have to try to figure out what is going on for our listing and not worry about the media. Veronica
Hi Veronica,
You know what your right. However if ask sellers and buyers if they have any worries about buying or selling and you might get a surprised.
Bob
Bob there is one thing that we all can do to redirect the media to more positive stories. We can contact a reporter and help them define the story regarding real estate, turn the negative bad news into positive good news. Know the market conditions in your area and focus on a few good talking points. Reporters are always looking for good stories.
You may have hit on something, that may be an interesting answer. Re-channel them.
Bob