Puzzled why your home didn't sell? Open Letter

4935 Cold Harbor Drive

Birmingham, AL 35223

July 24, 2017

 

John and Sue Schmidt

8000 Greystone Way

Birmingham, AL 35242

 

John and Sue, are you puzzled why your home didn’t sell?  I showed your home on April 20, 2017, I think I can help you with the why.

There are five main reasons why homes don’t sell, but you’re not trying to sell a normal home you’re selling a luxury home.

Condition – Buyers don’t want to have to rehab their new home, particularly if they’re moving from out-of-town, my buyers were from out of state so this was especially true.  They don’t know contractors or want to oversee construction after a move. It’s crucial to have your home up-to-date with quality workmanship.  My buyers felt the kitchen was dark with the natural wood cabinets and the dark granite countertops; todays buyers want a bright open kitchen, you might consider painting your cabinets.  They had a similar issue in the master bath but loved the large master bedroom.

Awareness – There are far more sellers than buyers in the Birmingham luxury market, so it’s key that you make any potential buyers and their agents aware of your home…that means dynamic marketing. A sign in the front yard rarely gets the job done. You must assume your buyer isn’t currently looking for a home, and that means getting your home on their radar. The best way to do this is through photography, (professional photography which yours is) video, conventional and social media. Your Zillow listing must have a 2-minute video, this will get your listing to the top of Zillow’s listings for your neighborhood which means more views.  Then you need a “walk and talk video” that will give interested buyers a hazel free look inside your home. Video Tour at: www.Grinkmeyer.comMy out of state buyers and the buyers I’m currently working with scour Zillow and decide what they want to see, then I suggest additional homes that I’ve seen that fit their needs, so getting agents into your home and getting copies of videos of your home to the right agents is paramount.  Encourage your new agent to hold an Agent Open House and get the primary agents in your area into your home.

Price – The asking price for your home must be in line with what other homes in your area have sold for. The best way to determine that is to compare your per square foot asking price with recently-sold comparable homes.

Your home is priced at $178.91 per square foot, while your competition in Greystone are selling for $166.00 to $170.00 per square foot.  You’re going to have to be competitive with those homes in Greystone to find a buyer, that would put your home in the $825,000 to $835,000 range. You also need to size-up the competition, that means you or your agent go to the other homes on the market and determine how your home compares. If you were selling catchup you'd sample the competition.

Location – Buyers want to match their new home with their lifestyle – including work, place of worship and even doctors. Your home is desirable location being in Greystone but what my buyers remembered most about your home was your big game hunting trophies through-out the house.   When we spoke of the homes we had seen over the two days that’s how your home was remembered, the big-game hunters house. When you sell your home you'll pack those trophies up and move them; pack them up now and allow your home speak for itself.

Salesmanship – You’re selling a product, it just happens to be your home. First you must get showings; there are fewer than twenty-four agents that have sold 90% of the homes in your price range in Greystone over the past six years.  You’re going to have to put a “walk and talk video” of your home and property in their hands so that they are familiar with your home.  There are features and benefits that must be pointed out to a potential buyer and that can’t be achieved with a buyer’s agent and a buyer roaming your property without someone selling your home.  This is what we had to do last April when we came to your home. You had a combination key box at your door, I had to call your agent to get the combination from your door step. 

I conduct all showings on my listings, I’ll act as my client’s salesman, I’ll know the property.  If I’m successful selling your property I’ll collect between $40,000 to $20,000 for my efforts. You deserve more than a listing in the MLS and a sigh in your front yard.

I believe lack of awareness, price, and lack of a salesman presenting your property are the primary reasons your home didn’t sell.  I’d like to have the opportunity to explore your thoughts on the sale of your property and determine if I can help you sell your home.   

I don’t want to just list your home; I want to market and sell it. You have an excellent product that needs dynamic marketing to sell. I’ll spend my money marketing your home if we determine I can help you. I won’t put a lock box on door and invite in unfamiliar agents, expecting them to sell your home; I’ll conduct all showings.  You’re going to need a salesman to sell your home.  There are 38 homes in your price range in your market area, based on the past six-year sales history 13 of them will sell in the next 365 days.

This is my business plan in a nutshell: market only luxury homes, take on only high-quality listings and capture both seller and buyer representation, yielding larger commissions.

John and Sue, do us both a favor, look at my website www.Grinkmeyer.com and download the Best of US Homes Birmingham Luxury Home Report at www.Grinkmeyer.com/ebook.  Then, if you’re interested in listing, marketing and selling your home with me, give me a call at (205) 919-6006, and we’ll talk strategy.

 

Thanks for your consideration,

 

 

Kerry J. Grinkmeyer

205 919 6006