How to Know When: Four Signs

Just because a home hasn’t sold doesn’t mean that the Realtor is doing a bad job.

But, if your home is lingering on the market, it’s imperative to know why.

Here are four signs that the problem may not be your home, but your Realtor.

One. Mediocrity (or worse).

Fortunately, egregious Realtor ineptitude is usually easy to spot.

Examples include omitting or misstating key information about your home on the Multiple Listing Service (“MLS“) database or marketing materials; lack of familiarity with the contracts you’ve been asked to sign; and/or thinking a “Broker Tour” is when area real estate brokers give office tours (it’s when Realtors hold new listings open for the benefit of their colleagues — at least in the Twin Cities, each Tuesday from 11 a.m. to 1 p.m.).

Not as obvious, but just as harmful, is when your Realtor fails to showcase your home’s best¬†selling points — in which case, other Realtors and the public are likely to miss them, too.

Even in today’s Seller’s market, if a home isn’t shown off to maximum effect — online, inside, and from the curb — it’s likely to stay on the market longer, fetch a lower sales price . . . or both.

Two. Underperforming the competition.

Market time varies directly with price point (the higher the price, the longer the expected market time).

However, that doesn’t explain why the 4 Bedroom, 3 Bath Colonial down the block sold in three months, while yours has been on the market for five months (and counting).

If seemingly inferior homes are selling while yours sits, your Realtor should have a ready explanation.

Sometimes, a nearby home that appears less impressive on paper in fact has a remodeled kitchen, a superior floor plan, etc.

Or, your home may have one or more warts that, after years (decades?) living in it, you either take for granted or can’t see anymore.

Next:¬†“Firing Your Realtor” — Part 2

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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