Have you ever wondered why some homes in London Ontario sell quicker than others? For more money? Even in this great real estate market that London Ontario is experiencing, some homes are still languishing on the market.
Below are how homes in London Ontario and area are trying to be market and sold and what is working better.
1% of houses are sold from Open Houses. This is only applicable if thorough marketing to prospective buyers and advance planning has been done. Not put out the open house sign at 1:00 PM on Sunday for a 2-4 Open House! Otherwise, the only people who go to open houses are looky-loos, nosy neighbours or tire-kickers.
4% of houses are sold through advertising in the newspaper or real estate publications.
6% of homes are found by buyers themselves or the seller finding buyers themselves, such as a neighbour, relative or someone at work.. In most of these cases, one party or the other hire a Realtor to handle the paperwork.
89% of homes are sold through the Multiple Listing Service when listed with a real estate brokerage – providing proper terms and/or an accurate market price is offered. Yet a lot of homes listed, even in a seller’s market will not sell, actually in September 2016, (a seller’s market), 31% did not sell!! Those properties that are sold through MLS, are sold by Realtors who market your home outstandingly well.!
Remember, some just list homes, we sell homes in London!
How many Realtors actually sell real estate?? According to CREA (Canadian Association of Realtors), 7% of Realtors do 93% of the total real estate business nationwide! As an example, if you had 100 homes for sale, 7 agents would sell 93 homes and 93 agents would divide the sale of only 7 homes among themselves!
In today’s real estate market, it is the Realtor who makes the difference if your home sells or not!
The size of a real estate company or its name has very little to do with the sale of your home or any other property. Yes, there are some companies, which sell hundreds of homes, but they also have hundreds of agents. The average of sold homes per agent is usually very low.
Do you think a home buyer cares what company name is on the sign? The colour of it, the ego picture on it?