It’s been 30 days and you’ve only had a few folks come through your home. Your agent has been very silent and you are starting to see more houses in your neighborhood hit the market. So, why is your home not selling? Well, here are the top four reasons why your house is NOT selling.
• Price - Many times I’ve walked into listing presentation with sellers who already have settled on a sales price even before the first Realtor has walked in the door. Having an open mind about pricing is important for a quick and stress-free experience.
• Realtor - Speaking of price did your Realtor suggest a price range with supporting comparable homes or did they just tell you what you wanted to hear to win your business? Picking a local experienced agent that is confident enough to explain not just their pricing recommendations but also a strategy to sell your home is critical to your success. Here’s a quick blog I wrote about picking the right Realtor (Click HERE)
• Availability -I always tell home sellers know that if buyer’s agents can’t show your home then I cannot sell it. When working with buyers I normally show four to five homes per day. I always call in advance to schedule appointments and to make sure the homes are available. Most times either the Realtor or the homeowners gets back to me to confirm appointments. But sometimes I don’t hear back or I don’t get a response until I’m already on the road with my buyers. Many times my buyer client will just skip a showing all together rather then backtracking or add to their already full schedule.
• Presentation – Ensuring your house is presentable at all times is the biggest headache for most sellers especially those with young children. However, I can tell you that buyers often make up their minds about buying a home within a few minutes of walking in the door. So, having dirty laundry out or a sink full of dirty dishes is not overly helpful.
• Misc. – So, you’ve done all the above why did the house down the block sell faster then yours? Well, here is why it did not sell faster:
o Home sales have little to do with the name on the sign on the front lawn. Nobody buys a house because they like the picture on the sign or the name of the brokerage.
o Realtor bonuses don’t work. I’ve seen sellers offer additional compensation to the buyer’s agent if they bring a buyer. Save your money most Realtors are not going to be motivated by this additional bonus.
o Gimmicks don’t sell homes! Watch out for nonsense gimmicks to try and drum up foot traffic.
o Newspaper advertisement is dead, dead, dead! Nobody looks through the local rag or Realtor magazine to search for homes when they can go online and see all available homes within a few clicks.
So, what’s the bottom-line, you say? Start by hiring the right Realtor not the one that just tells you what you want to hear (interview at least three Realtors). Be open-minded to suggestions and don’t panic! Your Realtor should supply you with regular reports about your current market conditions including online visits and buyer feedback. Use this information to help you better market your home.
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