Suppose you had the only residential listing in town. Would it would "sell itself"? Some realty agents seem to think so. That is not how it works.
As of the week of this post, the home at 100 N. 5th Street in Beaver Creek MN was literally the ONLY house for sale listed for the entire town, according to Realtor.com as well as Homes.com. Even the "nearby homes for sale" feature on these sites did not have any other Beaver Creek properties.
This 3 bedroom home had been on the market for more than one and one-half months at press time. If the law of supply and demand truly applied to real estate, this home would have been long gone.
What makes this even more interesting is that the advertising copy is very well written, and includes a lot of positive and helpful information about the property. Recent upgrades are profiled and the spacious elements of the home are featured.
There was a 14 photo spread with the majority being flattering interior photos (as of press time). It is possible that not having updated the exterior photos is a slight negative. There was still some snow on the ground on them even though the temperature for the current week was in the mid-60's. It is possible that the interior photos revealing that the sellers appear to be devoted to their religion could be preventing potential buyers from inquiring, but the majority of potential buyers would be making changes to decorations and art work anyway.
Another selling point should be that it is the only residence in town for sale. That should indicate a motivated seller. This is different than being on a block lined with "For Sale" signs and a massive exodus from a community.
Why hasn't this house sold? Why is this one now the only one in town on the market?
It is because, even with the favorable copy describing the home, potential buyers also need to be sold on the surroundings. And, in this instance, they are not.
The population of Beaver Creek is less than 1,000 people. There are no "true" towns with residences which border it.
Chances are, with this home having been on the market for close to two months, that everybody else in town knows it is for sale, and no one local has stepped up to buy it. This translate into needing to bring in a buyer from another community.
However, there is NOTHING in the advertisement profile of this property which gives anyone one or more reasons to consider Beaver Creek. This is why this house hasn't sold - and why it will not "sell itself".
It seems that Beaver Creek is right there at an exit from I-90, while being less than a 30 minute drive from much larger Sioux City SD. Thus, a family could be, say, 20 minutes away from employment, shopping, and the amenities of a bigger town.
In addition, there are reasons that people that live in Beaver Creek live there and enjoy the community (since none of them are looking to move!).
A few well chosen words about WHY potential buyers should consider Beaver Creek would go a long way toward getting this house sold. Perhaps to a buyer who is looking in Sioux Falls and would consider the "right" home a few minutes away.
It is not "just" the house. It is, often times, the reason to live there, that can make a difference. This house won't sell itself until there are specific reasons to consider it.
Places in Time III
1 day ago