CE instructor Kim Daugherty
IAR Convention Speaker Kim Daugherty used humor and a gift for storytelling to spread the serious message that if REALTORS want to succeed they need to adapt to the current housing market, not expect it to adapt to them.
In his session, “Help!!! My Listings Aren’t Selling,” Daugherty said REALTORS must be open-minded about new strategies and business models. They need to establish themselves as the “expert” for their clients and act as their doctor might – telling them what they need to know about the market, not just what they want to hear.
Here are six truths about the marketplace that Daugherty thinks every home seller needs to know:
1. Buyers buy after shopping around and they will be comparing your property to others currently on the market.
2. Sellers control the pricing and saleability of their homes but buyers control the VALUE. A property is worth what the market will pay.
3. If a property sits on the market for more than a few weeks it gets shop worn (like a stale donut.) Price it right in the beginning while it is fresh and buyer interest is at its peak.
4. Most properties must be sold three times — to real estate agents with buyers, to the buyers themselves and then to the lenders who will loan the money.
5. What it means if there are no showings — agents don’t see your offering as worthy of showing to their buyers or buyers aren’t interested enough to look. If there are no offers, buyers don’t see enough value to even negotiate or try to buy.
6. Overpriced properties actually help well-priced properties sell.
