The ranks of frustrated Kitchener Waterloo home sellers has grown considerably in 2012. Up to the end of October, 2230 sellers failed in efforts to successfully market their home on the Kitchener Waterloo MLS. This represents an increase of 18% over the same period in 2011. To put things in perspective, the last time there were this many residential properties going unsold was 1996. In 2002, there were just 1084 "expired" listings(an expired listing is RealtorSpeak for the end of a contract with the seller).
So what gives? Simply put, sellers expectations got ahead of market value. There are many and varied reasons why sellers choose the wrong asking price for their home. In some cases, their agent hasn't done their homework and/or properly communicated the current market value of the home with the seller. Just because the neighbour got top dollar for their home doesn't mean every home on the street is worth that amount. In other cases, the asking price is based on need and not market value. The seller is buying another home and needs X amount of dollars to make that happen. Sometimes, there is considerable deferred maintenance and the asking price fails to reflect that. And the list goes on...
So what next? Some frustrated sellers change their plans and stay put. Others try again. If you are in the latter group, feel free to contact me. I've developed a Marketability Checklist that ensures your home will sell in any market. You also have the option to take advantage of Century 21 Home Realty's Guaranteed Sale Program. I'll be happy to sit down and consult with you. Together, we'll craft and execute a plan to achieve success in marketing your home and avoid being one of Kitchener Waterloo's frustrated home sellers.
Century 21 Home Realty Inc. Brokerage
"Delivering results since 1989"