Why did your property not Sell? - Two important Factors

Have you been trying to sell your property with no luck? You are not alone every month there are about 300 listings in the Kamloops area that come off the market without selling. Here are two important factors that suprisingly get over looked or ignored.

First, price is a huge factor on whether or not you get an offer from a potential buyer because buyers always want to see value in what they are buying. When you are trying to determine the right price for your house the best way for you to know that number is by knowing what comparable houses have sold for recently. You should never really take an appraisers evaluation or even real estate agents valuations to heart unless particular comparable houses back it up. The market is dynamic so you should get updates on those houses to see where the market is going. The market can change after just one sale or even before a sale happens. These market changes occur for a number of reasons but they can be monitored to a certain extent with inside industry information. Real Estate agents earn their pay by converting as many potential buyers into actual buyers and by limiting unnecessary risks. As a general rule of thumb, in the real estate business poor real estate agents perform 5%‐15% worse than a good real estate expert.

 Secondly, when a buyer is trying to buy something outside of their disposable income it becomes a huge decision for them, a life changing event. Whenever I deal with a buyer I always sit them down and ask them about their particular needs and wants. I use this time with them to educate them about the market conditions just so they know what to expect before we even start going to view houses. The information they give me and information I provide them greatly increases the speed and likelihood they will make an offer on a house I show them because I am going to do a very good job of identifying their needs. I will just show them properties that meet their needs then I will gain a commitment from them. If I don’t go over their needs then it is likely I will be running around town with them looking at so many properties everyone’s head will start to hurt, and a top quality sale will be hard to come by. Buyers are free agents they have no commitments– they can be in the market one week and out of the market the next so it is important to get them to commit sooner rather than later and address their needs to help insure every sale is a win/win situation, for both the seller and the buyer.

If you are thinking about selling in the Kamloops area contact me for a no obligation real estate consultation.  I want you to make the most amount of money for your property.

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