Real estate practitioners are thinking outside the box to get properties sold. I've seen this tactic all over the United States and after talking to the barkers holding these sandwich boards it still isn't the silver bullet they hoped for.
Here's my story. I was on my way out Saturday morning and not unlike other weekend days you see “open house" signs, but this one caught my eye because the signs were placed maybe a hundred yards apart from each other. Following the “cookie trail" I found a lady holding a three by five sandwich board reading “OPEN HOUSE" in big bold blue letters. I politely introduced myself and asked if her gimmick was working and she politely responded that it's truly a hit and miss idea. What she had done was form a team; one to put out thirty five open house signs and take them down after the event, one to hold the sandwich board and bark for the duration of the open house and another to sit the open house. If they were successful in landing a contract they all agreed to split the commission.
Well, like everyone else in the real estate field and it doesn't matter if you're a hired real estate professional or a FSBO, it has not been an easy year. Ask any real estate practitioner and they will tell you, price price price is what'll move the property. If it's not priced right, expect it to sit. That's the biggest mistake a seller can make in conjunction with not marketing it correctly.
Forget what the market did a year ago; it was a completely different market then. You need to look at today and look at today's market conditions. Houses today have not appreciated as high or as quickly as those last year. In fact some of those houses purchased last year were over-priced and will cause the current owner problems if they try to re-sell them to soon. Talking of which, that's a big factor seen in today's market!
If you take anything away from this article, take this:
- No idea is stupid; it just may work for you,
- Pricing a house to sell is crucial in today's market,
- Creating a comprehensive marketing plan has to incorporate 1 and 2
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