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Story Archives: Many reasons for 'never sold' properties
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|Many reasons for 'never sold' properties|
This week will conclude my series of columns on why a property does not sell.
Over the years I have seen properties stay on the market for months or even years and never sell. If you look deeper into the property you can usually find the reason it became a 'never sold' property.
The first thing a seller will usually do is fire his realtor and often that is like firing the coach because the quarterback fumbled the ball. It may feel like the solution but it often does not solve the problem.
It usually only helps if the realtor is out of his or her area of expertise and is trying to sell a property that is beyond the scope of their experience or skill. As I have said before the real estate market is divided into three areas of expertise: residential, commercial and recreational or timberland. To be successful, a realtor needs to have a data base of potential buyers, have access to the property appropriate internet sites and have a level of experience in marketing and negotiating a sale of like properties.
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Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at email@example.com.