My Home Didn’t Sell! Now What?
Your Home Didn’t Sell?
Are you a homeowner stuck with a property that hasn’t sold? Maybe your listing expired, or you withdrew it from the market because the lack of progress so disheartened you. Or perhaps you tried to sell your home on your own with no results.
If that’s you, you’re in the right place! Read this guide to learn…
The top five reasons a home doesn’t sell
Action steps to overcome each of these issues
Reason #1: Bad Timing
If your home didn’t sell after several months on the market, timing could’ve been a factor. Housing markets are typically seasonal and if you mis-time the market (like selling during the holidays) you may miss the most buyers.
If demand doesn’t meet supply, it is a buyer’s market. In a buyer’s market, homes can sell for less money and to sit on the market for a longer period of time before receiving an offer.
Now What?
In most cases, buyers can be motivated to act with a combination of improvements, incentives, and pricing. If you suspect timing played a role in your inability to sell, consult with a knowledgeable real estate agent. We can estimate how long a home like yours should take to sell given current market conditions.
Reason #2: Inefective Marketing
Did your home get a steady stream of showings when it was on the market? If not, you may need to try a new promotional strategy.
Take a look at your listing description and photos. A clear description and high-quality photos are crucial. You NEED professional photos to draw buyers in. Show off your house!
Now What?
If you suspect ineffective marketing, consider turning to a skilled professional with a proven approach. We employ the latest technologies to seed the marketplace, optimize for search engine placement, and position your home for the best possible impression right out of the gate.
Forget just listing and hoping Zillow does the work, we go to great lengths to get as many buyers into our clients’ homes as possible.
Reason #3: Poor Impression
If your property received a lot of foot traffic but no offers, you may need to examine the impression you made on buyers who visited your property.
Start with your home’s structure and systems. Are there any “red flags” that could’ve scared away buyers, such as large cracks in the foundation or water stains on the ceiling? What about neglected maintenance and repairs? Finally, was your home properly prepped to maximize its appeal? A clean and decluttered space helps buyers more easily picture themselves living in your home.
Now What?
As part of our listing process, we review the home with the owner to make suggestions for listing prep to get the home looking its best. This often includes staging, small repairs, painting, a decluttering. We can help you determine the appropriate budget and effort required to get your home sold.
Reason #4: Priced Too High
It’s possible your home’s original asking price was set using sales data from before a market shift. There are many factors that go into properly pricing a home and if they are not reviewed correctly, you get a price that deters buyers.
Many homeowners are reluctant to drop their listing price. But the reality is, buyers may not seriously consider your property if they think your home is overpriced. Over-pricing a home often leads to it sitting on the market, leading buyers to question what is wrong with the home.
Now What?
If you didn’t sell at the price you want, you can either drop the price or update your home to reach that price. And repairs, upgrades, and staging can increase the perceived value of your home, which may be enough to bring a buyer to the table at your original list price.
However, if you need to sell quickly, or you’ve already exhausted those options, a price reduction may be necessary to get your home the attention it needs. We can help you determine a realistic asking price given today’s market conditions.
Reason #5: You Hired the Wrong Agent
(Or No Agent At All)
If you suspect that your previous real estate agent didn’t do enough—or used the wrong approach—to sell your home, you’re not alone. Many sellers whose listings languish until they expire or are withdrawn feel this way.
Or, perhaps you chose not to hire a listing agent at all and have been trying to sell your home yourself. That can be an equally frustrating experience—and research shows it can actually cost you time and money in the long run.
Now What?
If either of those scenarios sounds familiar, we should talk. By now, you owe yourself more than the status quo when it comes to your real estate representation.
Our multi-step Property Marketing Plan can help you sell your home for the most money possible. Our goal is to meet your home sale goals as stress-free as possible. You’re moving for a reason, lets make it happen!
Get Moving
Let’s talk. We can help you figure out why your home didn’t sell and how to revise your sales strategy and set your home up for success.
The housing market has experienced a shift and the waters may be choppier than usual for a while. But there’s still plenty of opportunity in the current market: You just need a guide who knows where to look and how to find it.
