In the Wake Forest NC Real Estate market, both commercial AND residential inventory and sales 
are fluid! Fluid as in moving like a rushing river and changing course! What may have been considered a reasonable price point a few months ago for a property has most likely changed.
I can promise that no Realtor® will argue the point that if you want to sell your home you must price it properly. But, even well priced homes will, at times, linger on the market for a little longer and there may be certain factors that play into that.
- If you are in an area where you have strong competition chances are the other Realtors® and sellers are just as savvy and priced their properties properly. With that, not every home, regardless of price, is going to be the perfect "fit" for every buyer.
- Maybe you are in an area where you are comparing RED apples to RED apples. If that is the case have you considered staging your property? Staging your home might be that one little touch that sets you apart from the rest of the competition.
- Is anything else moving in your neighborhood? That brings me to really the point of this post.
You and your Realtor® must continually re-evaluate your local real estate market. Review your local market competition on a regular basis - depending on your area you may consider doing this every two weeks. See what has sold in your neighborhood or perhaps what properties may have gone under contract. More importantly, have any of the properties adjusted their price and possibly added financial incentives to buyers such as paid closing costs, agent bonuses, warranties, etc.
And one important reminder, don't rely on information from your neighbors. Especially those that also have their homes on the market. Trust that your Realtor® will give you the most up to date information and accurate information. They have a vested interest in your home selling, too!
If your home is currently on the market and you do NOT have this open and continual communication with your Realtor® you may want to reconsider your expectations and if you and your Realtor® are a good fit. NO Realtor® should ever scoff at having to "check in" with you or be too busy to provide you with the information you need to get your home sold!
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Welcome to Wake Forest NC!
Live, Love, Work and Play...
And the Surrounding Towns and Cities of Youngsville, Franklinton, Creedmoor, Raleigh, Oxford, Louisburg, Knightdale, Wendell, Garner, Cary, Apex & Holly Springs
Leesa Finley the "Wake Forest NC House Chick"
Circa Properties
919-649-6128
To Search for Homes for Sale in Wake Forest NC please visit
www.LeesaFinley.com
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Leesa,
Re-evaluating is a must!
From the first meeting with a prospective Seller I tell them that if we aren't seeing activity within 3 weeks we will need to re-evaluate our strategy and the asking price. After that first 3 weeks we re-evaluate every 2-3 weeks. I see many agents just waiting for the Seller to call them to ask about the current market. I feel strongly that this is the wrong approach -- tell them the truth from the beginning and keep them updated regularly so there are as few surprises as possible. They'll appreciate it and you won't start dreading their calls!
I completely agree Leesa, things are indeed fluid, what happens when a short sale or bank owned pops up or a competing active is reduced - things just shifted and sellers need to know that!!!
Constant evaluation and re-evaluation aren't optional in my opinion :) Great info for current and future home sellers
Leesa, My clients and I are on the same page, most of the time when we are not I know it's time for a long heart to heart about reality.
Great recommendations Leesa. I recently subscribed to listingbook.com and I am finding that it keeps my sellers up to date practically on a daily basis. They are notified anytime a home in their area is reduced, or goes pending. It's a wonderful tool, plus they can go in and look around the mls to their heart's content. It's great for buyers too because they can change their search criteria as much and as often as they want.
Leesa - The market is always changing and sellers need to know where the home stands. I showed a very over priced home this evening and I'm wondering if the listing agent or seller even knows.
Thanks for stopping by Jeana - I have seen way too many properties listed and then just forgotten. The market moved on without them!
Sounds like a fantastic time-frame you have set up, Tish, for following up and re-evaluating the status of your current listings! YAY!
Thanks Diane! It is so sad to see so many homes on the market that were listed just to get listed and then forgotten!
They can be difficult talks, Steve, but we most definitely have to have them from time to time.
I have heard great things about listingbook.com Barb - unfortunately, it is not available for my local MLS. :(
It's tough, michelle, there are quite a few here as well that are overpriced and they have been on the market quite a while. I see their competition adjusting but not them - poor communication.