For example, given two exact duplicate properties (new construction, cookie cutter, same development, same price), one will always sell before the other - unless, of course, they sell on the same day. This is not really a mystery.
But then, sometimes two very similar homes on the same street will be listed for sale and one sells and the other sits. This is the mystery.
Why do buyers choose one property over another?
We may never know with 100% certainty the reason one property sells and while another sits, but I propose one (or more) of these may be the cause.
- Price. First and foremost, all properties will sell at a given price.The key to attracting a prospective buyer (and subsequent offers) is that simple.
- Condition. Related very closely to price, buyers usually want move in ready. Most buyers are not in the market for a home that requires significant updating or repair. Not surprisingly you can find updated and neglected on the same street.
- Accessibility. I have seen homes for sale in the same neighborhood and was able to show buyers property "A" while property "B" had restrictions on when we could gain access (24 hours notice, only after 5:00 p.m., agent must be present, no lock box.... the list is amazingly long why some sellers restrict access.).
- Ineffective market exposure. Each property is different so a "one size fits all" marketing plan may be ineffective. Choose a real estate agent who can (and will) personalize your marketing plan to where your buyers are coming from (fish where they are biting!).
Here is what you do...(1) price it right; (2) put it in its best possible condition within reason, of course; (3) make sure qualified prospective buyers can see it; (4) select an agent who will get your home in front of your pool of real potential buyers.