Podcast - 01/12/24

🏡 Facing disappointment because your house didn't sell? It happens, but there's a path forward! 🤔

In our latest podcast, we dive deep into what to consider if your house didn't sell. 🎙️ From access limitations to curb appeal and pricing strategies, we've got you covered with valuable insights to get your home back on the market successfully. 🏠🌟

And of course, don't forget to check out our fantastic "House of the Week"! This colonial beauty in Taneytown is a must-see, with 3 bedrooms, a finished basement, and stunning farm views. 🌄🏡

Tune in now for expert advice and the latest real estate scoop! 📈👍 #RealEstateTips #HouseHunting #HomeSelling

Tom Whalen:

I'm Tom.

Jay Day:

I'm Jay.

Tom Whalen:

of Jay Day and the Day Home Team at LPT Realty with our weekly real estate podcast. What are we going with today, Jay?

Jay Day:

Today? I thought it was pretty important to talk about. We talked about how a lot of people sort of gave up, took their homes off the market. A lot of our clients didn't. We got homes sold over the holidays. So this podcast is for those who had their house on the market and didn't sell, and things that they really need to consider.

Tom Whalen:

Frustrated with another agent. Is that what we're talking about?

Jay Day:

Yes.

Tom Whalen:

Okay. I understand.

Jay Day:

Or I would say frustrated that their home didn't sell. Period.

Tom Whalen:

Okay, their home didn't sell.

Jay Day:

So they let their listing expire or they canceled it, the home didn't sell. Of course, you're going to feel frustrated, you're going to be disappointed, possibly angry, all these different emotions that are there. So sometimes it's tied to, as you mentioned, it could be the agent. It could be the lack of marketing, it could be the lack of conversation. One of the things that when I talk to people that have their house expire is what was their showing activity like? Did they have a lot of requests for showings? Did they make it available? And for people that are like, well, I had a bunch of requests, but it was never convenient. Well, that's a,

Tom Whalen:

Yeah, I understand.

Jay Day:

And I get it. We still are in a world where a fair amount of people are working from home and they're like, well, I need to have 24 hour notice, or I can't do this. I can't do that. Again, once you make your home unavailable, it becomes a challenge to sell it. If we can't get, the more eyes we have on the home, the more feet through the door, the more opportunity to get it sold. So one is you need to be as flexible as possible and allow your house to be shown. Don't make it difficult. You want to make it easy. When you make it difficult, that will delay things and create problems.

Tom Whalen:

As a lay person, it seems difficult to have your house be shown. I don't know how I could handle somebody coming through there with me living there.

Jay Day:

Yeah, I mean, it's definitely not easy. What we do is we tell people, we give 'em a little pointer of, for the bathroom, you have to go out and get a couple little bins, and every morning you put your stuff in there, your toothbrush, the stuff you leave out on the counter.

Tom Whalen:

It has to look like maybe a hotel when you leave.

Jay Day:

Yes.

Tom Whalen:

Okay. I understand.

Jay Day:

Yes.

Tom Whalen:

Not the way I'm leaving it. Definitely not.

Jay Day:

Yeah. And we tell people, same thing. If you're working from home and you had stuff going on, just have a laundry basket, a little laundry basket. You get a notification, someone wants to show it in 20 minutes, toss all the crap in the laundry basket, put it in your car, and head out and bring your laundry basket back in and put your stuff back to where it was.

Tom Whalen:

That's the way to do it, Jay. My first thing was, oh, stick it all in a closet, but ain't going to work, is it?

Jay Day:

No. You just, like I said, have a box, a laundry bin, something.

Tom Whalen:

People want to see the closet space. That's important.

Jay Day:

Oh yeah. The other thing is, did your house stand out? Was there anything that was done that stood out in a negative way? I had one recently where they had a very bold color and their house was on the market for a period of time. And I was like, as soon as you walked in the house, the first room had this really bold color. And I said, this is definitely leaving a lasting impression on people. And at one point that color was very popular. Now it is not. And people, I don't know how to say this in a nice way, people, people tend to want to do less. So I would say, and again, this is probably not the nicest thing to say, but

Tom Whalen:

That's okay.

Jay Day:

Overall, the world has become a lazier place. Would you agree with that? Absolutely. So if someone thinks that they're going to have to paint versus someone that doesn't have to paint, you're going to have better odds dealing with something for people that don't have to do any of the work. So there's some of these things that pop up and like, well, I would highly recommend painting this because this is going to appeal to 20% of the population and we're leaving out 80. I don't want to leave out 80. I want to appeal to as close to a hundred percent as possible, if that makes sense.

Tom Whalen:

Understand.

Jay Day:

And the same thing I tell people. I'm like, walk into your house, pull into your driveway and forget that it's yours. Take the personal side out of it. And what do you see? What catches your eye, is there, oh yeah, I knew about this. The downspouts been messed up and I needed to reconnect it. There's been this door that was broke, so I took the door off the hinges. Whatever it is, those things are things that can be a problem. And you have to look at it from, it's the same thing if you go to look at a car. When you go to look at a car, a car is much smaller than your house. What do you do? You walk around the outside, you look for any dent, you look for any dings. You go inside the car, you look, does it smell good? Does it have crumbs on places? What does it look like? And you have to look at your house the same way because everybody looks at their car. As most people, if you go to get rid of your car, what do you do? You take it to get detailed washed. You do all these different things. You want to get as much as possible, but you don't want, it always blows my mind because a lot of people just don't want to do that with their house. And I'm like, so your car, you're going to sell for $30,000. Your house, you're going to sell for 500,000. You're willing to do this for the car, but you're not willing to do it for the bigger property. Yes, it may cost a little more money, but think about it like you think about when you're selling your car. That's the most simple way I can try to explain it to people. Look at it from that perspective. Now, the other part is your pricing. Did you price your home at a number that you just picked because you thought that's what you wanted? That's what you needed? If they would pay that, I would move. Wasn't based on any real data, if anything, and I won't get into political stuff, but it's always funny to sort of throw some things in there. The big thing now is what is science? What is scientific? What is not? What is real? What is not real? What is real news? What is fake news? So did you price your house because you wanted to? Or is there true data that you can look at and see that the homes around your homes like yours sold for this amount of money? Or when you look at that, did they sell for 400,000 and you're trying to get 475? It's time to get real and look at real numbers and not live in a fantasy land of where we have been during the covid times. And again, that's my pretty direct way of saying, now is not the time to play around and throw spaghetti at the wall and see if it sticks. You know what I mean?

Tom Whalen:

Well, somebody would put their house on market Jay and say, hey, if somebody pays that, I'll move.

Jay Day:

Yeah, it's,

Tom Whalen:

They're doing that.

Jay Day:

Oh my God, Tom, over the years, there's times too that I go in and I meet with people. I'm like, how did you come up with a price? And they're like, oh, I told the agent I wanted to sell it for X. And I was like, okay. So did the agent give you any comparables, anything that can justify X? No. They just told me, they asked what I wanted to sell it for, and that's what they wrote on the paperwork. And I'm like, okay, that's not how this works. I would love to sell it for as much as possible, because again, I like to remind people that we get paid a percentage and that percentages of the sale price, the higher the sale price, the more money we make, the higher the sale price, the more money our client, the seller makes. So we all want to sell it for as much as possible, but we have to be realistic in what that number is. So those are some of my pointers. Again, if you gave up, don't be afraid. The market is not trash. The market is not crap. The interest rates aren't the reason why your house didn't sell. If you want a fresh look at it, a different approach, you can go to our website dayhometeam.com. You can get an estimate of what your house is worth there, and then we can schedule a consultation. Or you can even just do the request to get an idea of what it's worth without meeting with us. Or you can call us at (866) 702-9038, press the prompt for seller. It'll connect you with one of our listing specialists, and we'll be happy to chat with you about why we think it didn't sell, what we could do differently, and how we could get you to where you want to be, assuming it is that you really do want to sell and to make your move.

Tom Whalen:

Sounds good.

Jay Day:

Alright, you ready for the house of the week? Let's go. So we're going to go up to Carroll County, 81 Trevanion Road in Taneytown, Maryland. This one's listed for 385,000. It is a detached colonial with three bedrooms, two full baths, also has a finished basement. The kitchen is updated. There's granite countertops. There is a large yard, a large deck. There is an oversized two car garage, a master suite with a soaking jetted tub. And the neat thing, no HOA. And you have beautiful farm views. And from what we're told, spectacular sunsets. You can see from this property all for under 400,000, not too far away. Right out 194, 81 Trevanion Road is our house of the week.

Tom Whalen:

I'm Tom.

Tom Whalen:

I'm Jay.

Jay Day:

of Jay and the day home team at LPT Realty Weekly Real Estate Podcast. Jay, you're the best. Thank you for listening and tell your friends all about it.

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