How much are you willing to spend to sell your property?
Recently, a Hilton Head property pended after 900 days. It had also been previously listed for sale for for 500+ days previously with another agent, bringing it to a grand total of over 4 years on the real estate market. Sellers need to know that there only three reasons a property does not sell including condition, location and value. Because the condition and location were excellent, the only thing wrong was the value.
Are you willing to spend $200,000 dollars to sell your Hilton Head Property?
In this particular case, the seller’s carrying cost included insurance, taxes, regime fees, utilities and maintenance totaling over $25,000 per year. Sellers also need to factor in the loss use of money which we estimated at just 3% a year or $24,000 in this example. This seller spent over $200,000 in out of pocket expenses carrying this property for 4 years before it finally sold.
Do you think it is a marketing problem?
Switching agents won’t fix a pricing problem. First time sellers often switch realtors after the first year. The problem with this is that switching agencies often adds more time to in the marketing cycle as everything needs to be geared back up all over again. Unfortunately when a seller is not ready to accept the reality of the market, they often switch listing agents at the end of their listing term which is why we always love being the 3rd Realtor.
Do you want to own property for the long haul or sell it now?
The truth is not all sellers will win in this “long haul market” and many will end up carrying their property longer than they have to. If a seller really listens to their agent and take the time to learn the market a seller can save thousands of dollars and years of frustration. Give us a call at (843)842-0805 or shoot us an email and let us send to you our marketing program…designed to save you dollars and time.
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