Mr/Mrs. Seller, concerned that you're not getting many showings?  Few phone calls from your agent with market updates?  Few sales being reported in your local paper?  Maybe it's because were in the "Summer Doldrums"?  

First, exactly what are the Summer Doldrums? 

Google's first 10 searches related to the stock market - that stock brokers are human and go on vacation, to the beach, etc. and are not around to talk their customers into buying and selling stocks, so it's the doldrums until Labor Day when everyone gets back to work. 

Bing's first 10 searches were much different:  # 10 was related to the stock market but 1-9 had a variety of results from bird watching to fishing to summer camps. 

So, lets first turn to the dictionary:Definition : "doldrums" 1.  A state of inactivity or stagnation, as in business or art:  August is a time of doldrums for many enterprises.  2. The doldrums, a belt of calms and light baffling winds north of the equator. 3.  A dull, listless, depressed mood; low spirits.

What?  No mention of Real Estate being in the Summer Doldrums?

Maybe everybody else is busy making deals happen, but not here along the Connecticut Shoreline - at least not as active as we would like. 

Sellers in particular are wondering what is happening?  Why no showings?  Why no offers?  Why are buyers not able to sell their home to buy my home?  Why are banks rejecting appraisals? 

Here's my answer to one of my frustrated sellers: 

Mr/Mrs. Seller, let's look at the key factors that determine how fast your home will sell: 

1. Real Estate Business Cycle

a.  We are currently in a "buyers" market; also, July and August are typically the slowest times of the year for home sales - so that's why things are slow. 

b. We're still in a difficult economy with few companies hiring, high unemployment and people who want to move but can't sell their homes.  I just received a call today from a local agent who has three buyers with homes to sell before they can buy - asking me for cooperation with a public open house to get activity. 

2. Location/neighborhood

We all know that location is important.  When there are many choices on the market (high inventory), buyers can pick properties that are closer to major highways for a shorter commute or properties with more acreage for privacy. In other words, properties that meet their needs with less compromise that in a more active "balanced" market. 

3. Condition

Buyers are usually looking for properties that are "ready to move in".  They have seen granite countertops - so that's what they want;  they've seen crown molding - so that's what they want;  they've seen a well staged home, so that's what they expect In short, you've got to put your best foot forward - get staging advise, remove clutter, "neutralize" rooms with bright colors; keep the house "clean as a whistle"  

4. Marketing

Have you reviewed the written marketing plan that I presented when we first met?    

I try to go beyond the "typical" things that all agents do;  for example: provide a floor plan (I use apex sketch - www.apexwin.com ); pay for a stager to give a consultation; use a feedback program to get results on showings (I use www.feedbackcentral.com)   We are doing very extensive marketing - this is key to selling your home.  Our 30+ item marketing plan with Internet exposure, web site, enhanced Realtor.com etc. 

5. Financing

This is another difficult area at the present time.  At one major brokerage company, they told me that about half of their contracts are falling apart because of financing problems - in one situation, the appraisal was done by the buyer but the bank doing the financing did not accept the appraisal - and often the appraisals are coming in below the selling prices due to lack of sales to do an accurate comparative analysis.  

6. Price

Again, buyers are all looking for a deal.  With prices about 10 to 15% lower than a year ago in many areas, use facts available from many sources (your local MLS board as a starter), and recent comparable sales to keep your sellers current with the market and adjust their selling price as appropriate.  Better yet, price it BELOW competition at the beginning and you'll get it sold to the next wave of buyers looking in that price range (easier said than done - but critical to get an offer in the early period after the initial listing date).

So, Mr. & Mrs. Seller, just be patient, September is just around the corner!