Has your home been on the market for months?
Has your listing agreement expired?
In today’s competitive market, about 90 days is the typical DOM (Days On the Market) with Orange County properties. However, if you haven’t received a serious offer within the first 30 days of full scale marketing of your property, you need to reassess the marketing program.
Time is money.
Each month your home passes without being sold is opportunity lost and costly. If that right buyer who was willing to pay the right price came and left a month ago for one reason or another, that buyer may not come back. The prospective buyers you end up getting could be hard core investors or jaded buyers looking for the next lowest priced bank owned property. Every extra day your home goes unsold, it’s extra day’s work for you keeping up the property for the sale. In a declining market, you also face the risk of constantly chasing the declining price.
It is important to break the cycle of decline.
There are three broad areas that need to be monitored.
Price & Market Conditions
Often the overriding obstacle is the price of the home. At the start of the process, I will recommend a realistic price that will result in a quick sale with the highest net at the close of escrow. However, during the marketing of your property – new homes could come into the market or the market could decline. This works against you, especially if they are bank owned property or short sales, from banks or pressured to get rid of their properties fast. That’s why neighborhoods with a lot of bank owned properties and short sales are slow to recover and homes there are slower to sell. If this happens, it’s vital to adjust your price to remain competitive with competing offerings in your market. Thus it is incumbent on you to keep abreast of the changing market conditions.
Sometimes, something about the property could be scaring away or turning off the buyers. If there is a significant change in the property since beginning the marketing process that could effect the value of your property, we need to adjust the price and possibly the marketing program as well. And it can’t be stressed enough that for any new prospective, the first impression is critical. Therefore, it is important to review the property condition and add more polish to your property within budget. Too you have to review the process to make sure you are doing everything to effectively market your property from announcing to the world that your home is for sale, creating the online Best Virtual Home Tour, putting the sign and fliers on the yard, and holding regular open-houses.
Marketing Strategy Tweaks
I will review your marketing and propose a new marketing strategy. You can expect me to deploy every tools I have at my disposal. I have one of the strongest programs to sell properties quickly for the highest proceeds at closing.
Remember, time is money. Therefore, it is important to break the cycle of decline.
Call me at (714) 932-3277 or email me by clicking below.
I will evaluate your situation and propose a marketing solution that will fit your needs and meet your goals.