Posted by: Roby Robertson | June 5, 2008

Lake Norman Real Estate: Sellers, You May Not be Alone

Hey Lake Norman Sellers, Where do you fit in?

I was checking some statistics today after going on a listing appointment this morning. Here are some interesting numbers.

From June 1, 2007 to June 5th 2008:

  • 1254 Homes were sold in Lake Norman Area 13 (includes all homes)
  • 227 Waterfront Homes were sold in Lake Norman Area 13
  • 218 Waterfront Homes became expired Listings in Area 13
  • 711 Homes became expired Listings in Area 13 (include all homes)

From June 1, 2006 to June 5th 2007:

  • 1716 Homes were sold in Lake Norman Area 13 (includes all homes)
  • 404 Waterfront Homes were sold in Lake Norman Area 13
  • 103 Waterfront Homes became expired Listings in Area 13
  • 218 Homes became expired Listings in Area 13 (include all homes)

As you can see from the statistics, sold homes are down and expired listings are up.  I realize this is very frustrating to all participants.

What made me think about this was my appointment this morning.  The home I am getting ready to market is a referral.  This older couple was recommended to me by their daughter after I sold their home.  Interestingly it made me think about all these expired listings. Did the seller pick an agent from a book, a website or a friends recommendation.  I guess, while I am glad to get repeat business, I wonder if people are taking to time to visit with multiple agents.  I know I have had to go up against others.  Sometimes I was asked to represent the seller and sometimes I wasn’t.  Each situation is different. 

I do know that when I go on an appointment, I concentrate on being a good listener.  My time to speak will come after I understand the sellers and let them tell me about the home etc.  Agents that walk in and first thing out of the box try to justify price and/or commissions just don’t get it. (in my humble opinion). 

The next question I asked myself was I wondered if the expired listing was a result of bad pricing, bad luck or a home that just does not appeal to very many.  My guess is that quite a few times it is pricing.  There is a listing in the neighborhood, I am soon to market a home, that has a  listing that in my opinion is way overpriced.  Ironically it has a conditional contract on it but the listing agent is appealing for agents to continue to show the property.  My guess is that it is not a solid offer.  To tell you truth, due to the recent solds, I fear the appraisal won’t meet the price.  After all this has become more of an issue recently.  I have tried very hard to come up with comps to justify that price but I can’t do it.  If the home sells and appraises, then I stand corrected.  However my comps come up quite a bit less.  My clients and I have analyized the numbers and are going to sit an wait just a little while to see what happens.  They are not in a hurry and I want to do the right thing.

Anyway, my point is that my guess is that sellers are dictating price based on net proceeds instead of actual statistics.  My philosphy is that my sellers join with me to form a team and we must be on the same page.  I also blog about my sellers homes this and other blogsites.  I ask my sellers to tell the world about the home and area.  I believe it helps bring a human element to things especially for those from out of town.

If your in the expired boat of just don’t know a lot of people in the area, let me show what I do so you have something to compare to.

Also, be sure to check out the right side of my blog.  I give you ways to see all the listings, all the time around Lake Norman. I am also open to setting up new ones.

 As always if you ever need real estate assistance please contact your Lake Norman Area Agent at 704 451 7051.

What would my Home Sell For?


Be The First To See Lake Norman Hot New Listings.

Roby Robertson

 

Saving My Clients Thousands

Broker/Owner

 

Real Living In Style
Davidson NC

 

roby.robertson@realliving.com
www.LakeNormanRealLiving.com

 

Ph: 704 451 7051
Fax: 704 892 9766

Committed to Saving My Clients Thousands When Buying and Selling Real Estate


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