Selling a home is not an easy task at best, but it can become very frustrating when the home has been on the market for some time and no offer is forthcoming. Sellers start asking, 'What's wrong?'

First, they need to recognize the facts.
Here in Las Vegas for example, statistics from the Greater Las Vegas Board of Realtors show that in 2006 fewer than half of the MLS listed single family homes sold and closed! The percentage is even lower for condos and townhouses. A percentage this low tells sellers and their agents that they need to do more than the basic 'put it in MLS and see what happens' in order to be successful.

The smart home seller realizes that buyers today look at several homes before making a decision. In Las Vegas, those choices are not only among resale homes, but also among many, many new home models added to the mix. How can sellers be more competitive? Step one is to sit down with their real estate professional and rethink the marketing plan. As much as sellers don't like it, the first area of discussion is almost always the price. Reviewing the price can be difficult, but it is the single most critical element in the new plan. Update comparable sales in the area to see if you're competitive. (You can do this yourself on the Internet.) Forget the asking price of other listings. Look at the CLOSED sales for price and terms. Your home must be priced to meet the market or the other factors might not make a difference. Next, consider some of those other factors. What about terms? Can you contribute toward some buyer costs if the sales price is right? Can you carry back a second trust deed? Can you move quickly? Is your home in top condition? Is it presented in the best possible way? Are you offering a Home Warranty? By this time, your home may have been seen by several real estate agents through previewing and showings. They have given feedback to your agent, based on either their own expertise or comments made by their buyers. This is a time to be open and flexible to ideas and suggestions made by your agent. Help your agent help you and soon you will be among those with a SOLD sign in front of your house.

For more information please contact me at susanmorrow@homesvegas.com