Many homeowners approach LJG's Rick Pretsfelder after their listed property failed to sell after being on the market for a considerable amount of time. They’re frustrated and unsure why their home failed to sell in the time period they felt was appropriate. While every property and situation is different, Rick feels that the reasons a property stays on the market longer than expected comes down to 4 factors:

Price

Leslie J. Garfield Real Estate produces a quarterly report with information on a number of sales, average price per sale, and average price per square foot for all townhouse transaction in each neighborhood in NYC. This is the ideal resource for homeowners to get a precise breakdown of what’s happening in their neighborhood. Every property owner should have this information so they’re aware of ongoing trends in their area, as well as how it’ll impact how much their home should be placed on the market for.

The Wrong Agent Was Hired For Your Property

Townhouses are a unique asset that requires an agent that specializes in marketing and selling this type of home. The average agent isn’t aware of what goes into selling a townhouse - zoning, taxes, SROs, landmark status, etc. Hiring someone that has prior experience in this type of transaction will increase the likelihood your home is sold.

Poor Quality Photos

Did you know 92% of homebuyers use the internet in their home search? Studies have shown that good photography helps sell a home faster and for more money. First impressions count, and if buyers aren’t impressed by what they see on their computer/smartphone, it’s highly unlikely they’ll be inclined to see your property in person.

Inadequate Marketing

Marketing a property is much more than just listing it on Streeteasy. In today’s competitive real estate market, you need to cast as wide of a net as possible to reach prospective buyers. This means digital advertising, print and digital mailings, video photography, social media posts, and international presence to attract foreign buyers. Many agents fail to use all the resources available to them to property market a listing.

Contact Rick Pretsfelder regarding all things related to the Upper West.