A recent question from a client was valid "Why do some properties just sit there and others sell quickly?" This question was brought to light when my neighbors listed their house (disclaimer: they did not list with me but someone they already had a relationship with - fair enough). A For Sale Sign was in the yard and it was on MLS on Monday. It had a "sale pending" sign by Wednesday! Another home in our neighborhood - equally as nice - has been on the market four months. Why?

Here are some common explanations for the disparity in sales....

1 Pricing! You may feel you know what your home is worth, or what you want to net from a sale, but if the comparatives in the neighborhood don't support it your home will sit. If your home is overpriced, even if you receive an offer, it may not close if it cannot appraise for that value (unless you are lucky enough to get a cash sale!). If a home for sale hasn't had activity (ie listing appointments) in a couple of weeks - it is possibly overpriced

2. Condition. Today's buyers want something they can move into right now. They don't necessarily want a "carpet allowance", have to buy appliances right away or make repairs. I have told clients that it is a beauty pageant when it comes to selling a home - the homes that look great, are painted contemporary neutral colors, are well maintained and have some updates sell quicker - if pricing is right. (exception: I had a client who could not afford to update, paint and fix their home. It was priced accordingly and sold within a week)

3. Location. Homes may be in the same neighborhood but one may have less traffic, or no power lines behind it, or be too close to a busy road. Again pricing it right can make adjustments for this.

4. Extraneous Factors. I showed a home last week that the clients liked, until they walked into the backyard and the neighborhood dogs began going berserk. All of the sudden the nice backyard became less nice. Other things that can affect the length a home is on the market is flexibility in showing the home. If an agent calls for a listing appointment and is turned down, they will continue to show OTHER properties to their clients. While they will probably come back to that listing - it is possible their clients will have found another home. This happened as I was helping a client find a rental.

5. Internet exposure. I have seen some HORRENDOUS photos of homes on the internet. While it isn't your Realtor's job to clean your house, I see no point of putting photos of a sink full of dishes or a bedroom with clothes on the bed and an ironing board up! (although I was impressed that people still iron). Almost 90% of homebuyers go to the internet FIRST. If the home seller, didn't take enough time to clean their house for it to be shown on the internet, the assumption is they probably don't take care of their house. It doesn't stop there - a home needs to be shown on as many social networking, technological ways as possible. Today's home buyers are saavy and want more.

So that is the long answer to a short question. I'd love share with you how I market homes and take all of these points into consideration. Not ready to sell? See my previous blog and hey refer me to a friend who is!