A Concerned Son Writes In

Dear Mailbag

My parents have been trying to sell their house for about a year now. They have had some interest, but nothing very solid. For the first several months they listed the house with an agent, but after getting very few leads they tried the FSBO route. Now they have gone back to another agent and are beginning to get more and more frustrated. The house itself is very nice and located in a GREAT area. Do you have any suggestions to help get the house sold??

Thanks

Concerned Son

Dear Concerned:

Tryingto sell a house in a relatively flat market can be a difficult and frustrating experience.  As such, it is important to ask yourself(or your parents, in this case) if there are factors that are prohibiting a quick sale.  Some things to consider are:

1) Is the house overpriced comparable to other properties in the neighborhood?

2) Does the house show well?

3) What marketing strategies are being employed to generate interest in the home?

These are questions that should be asked to the realtor directly.  Additionally, it is important to point out that a house which is priced appropriately SHOULD sell in a reasonable period of time(read: 90 - 180 days).  However, it also depends on the caliber of realtor that is being used.

Some things to think about are as follows:

1) Are you using the most powerful realtor that you can?  I have found that using the top ranked local realtor can assist in generating sales interest.

2) Another possible avenue of exploration is to consider the 'Five Day' sale, as outlined in Bill Effros' book "How to Sell Your Home in 5 Days" by Workman Press.  This book outlines an interesting auction strategy for selling single family homes.  Be warned, though: the steps are very specific regarding making the sale and the process leading up to the sale.  I once tried to sell a house using this system for a colleague and he refused to follow the rules - and he failed.

There are many alternative approaches you can take to working on selling your home.  If it is priced competitively and shows well you should be seeing some activity.  Take time to consult with respected local professionals and see what tweaking can be done to help your parents selling performace.  Good luck!

The Bag