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Monday, February 29, 2016

Home Seller Tips: Using the right bait for the right target....

I advised someone a couple of days ago to keep the bait in the water and some one may bite.  In this case he was not selling a house, car or any high priced items.

My response was not "bait" specific.  

I am not a fisherman.  Never have been.

I remember a fishing trip I went on when I was about ten years old.  It wasn't really much of a trip...just a short ride with my Uncle Harold to the Ocklawaha River in north central Florida.

On this particular trip I remember eyeing this huge catfish.  OK, huge for me is not the same as when Donald Trump uses it. #Trump2016

The water was shallow and the fish was probably only about 10 feet away from me.  I kept tossing my bait over to the fish.   It even bounced off its head a few times yet was still ignored.

I kept my bait in the water near it until time to go home.  Not sure but I likely passed up other fish while concentrating on the "big one."

So my "keep the bait in the water" advice is not correct.

How does this relate to real estate?  Glad you asked!

Not long ago I had a buyer make an offer on a house in the Viera, Florida area.  The MLS listing said it all... Seller says bring all offers!

Now that first sentence said it all...it was the bait!

But, an offer of about 95% of the "bring all offer price" was rejected.

Obviously the proclamation to bring all offers was not the right bait.  The seller was only interested in the big catfish.

If you are selling your home the most efficient process is to use the right bait for your goal.

If your goal is moving the house quickly, the bait of choice is reasonable price for location, condition and competition.

If your goal is getting the most money for property, regardless of time on the market (danger, Will Robinson),  be patient and make sure the marketing approach isn't "bring all offers."   

The key point...match your bait to the target.


Image courtesy of Vlado at FreeDigitalPhotos.net

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