There is no reason, at least not in the current market, that a house in good condition and in a desirable area shouldn’t sell. Homebuyers are clamoring for these homes. However, there are several common reasons that homes don’t sell and one of these may just be the solution to your problem.
Here are the 3 reasons why your house isn’t selling:
The most common reason a home sits on the market is because it’s overpriced. Asking too much for the home could be a result of you ignoring your real estate agent’s pricing advice, an error on the part of your real estate agent, or because the market corrected and your agent didn’t notice.
Regardless of the reason why, you’ll need to drop your price, as soon as possible, to renew interest in it and get it sold. In a nutshell, homes sell for what buyers are willing to pay, not what sellers hope to get.
The only way to know what a buyer is willing to pay for a home like yours is to check the sale prices (not the asking price of active listings) of homes similar to yours. If it’s less than what you’re currently asking, I urge you to drop the price. The price reduction may just be the key to getting more buyers through the front door and, thus, to the home selling.
We’ve noticed that the homes that sell the fastest are priced right and they’re in good condition. What do I mean by “good” condition?
The outside has curb appeal – the exterior reflects pride of ownership. The trim is painted, the stucco is in good condition and the landscaping is tidy. Inside, the paint is fresh, the carpets are clean and the house is neat and decluttered. The buyer has the impression that he or she can move right in and not have to work to make the home livable.
Your real estate agent’s primary job is to market your home & hire a professional photographer. If it’s priced right and in good condition, the next biggest reason it’s not selling is because you have an agent who is failing at the marketing game.
Get together with your agent and find out what is being done to market your home. If the only marketing that’s been done is a sign in the front yard and an MLS listing then consider finding another agent. It’s a lesson many homeowners learn the hard way: Never hire an agent that doesn’t offer a powerful marketing plan.
It’s the essence of what you’re paying for and you should demand the service you deserve. If you follow numbers one and two above, and you are convinced your agent is doing a stellar job, ask yourself if you’re flexible enough in showing the home.
We know that the worst part of selling your home is having to keep it in model-home condition despite life continuing to happen. Like kids, pets, guests and all of that. But Buyers work too, and often the only time they have to look at homes is in the evening or on weekends. Accommodating last-minute requests to see the home earns bonus points and gets you even closer to selling the home.
Even in the hottest sellers’ markets there are slow periods, so if you’ve done all you can to ensure that your home is competitive, relax and give it more time.
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