If your home just came off the market and hasn’t sold, don’t be discouraged. The reason it didn’t sell may have nothing to do with your house. Your home may have been one of the most desirable properties for sale. If your listing has expired and you still want to sell, please take a moment to review your situation.
Selling your home can be very inconvenient, but commit to doing whatever it takes to sell your home next time. With the right agent and your cooperation, your house will sell.
Why wasn’t your house sold? Honestly evaluate your ad history. Your house probably did not sell for one of the four most common reasons:
1. Availability – Is it easy to show your house? Your home should be easily accessible, if you don’t have a safe, consider installing one. Be flexible and allow showing hours that are convenient for buyers and their agents. Do not follow the buyer and his agent around the house; go for a walk, or at least go outside. The showing agent receives compensation only after his home is sold; is motivated to receive payment. Buyers need the freedom to voice objections and only then can your agent resolve the issues raised. Allow the buyer and your agent the “freedom” to discuss your home, without worrying about hurting their feelings.
2. Make a good first impression – Make the Buyer fall in love with your house. Typically, a buyer’s decision to buy a home is based on emotion, not logic. A move-in ready home invites sale. Consider: repairing all obvious defects that a buyer will discover during their first ten to fifteen minute visit. Keep it clean for all presentations, tidy up, light up (open the curtains, turn on the lights). Enhance curb appeal. Most buyers decide in 2 minutes whether or not they like a house. Talk to your agent about taking care of other repairs and improvements, such as paint, flooring, etc. Because a buyer sees only your inflated idea of the cost of the improvement, offering an assignment to your prospective buyers isn’t always as desirable as getting the job done. A house that makes a good first impression sells for the best price because it outshines the competition.
3. Price – The right price depends on current market conditions, competition, location, and the condition of your home. If your home does not compare favorably with others in the same price range, buyers and their agents will not seriously consider your home. Ask your real estate agent to provide you with a current market analysis (a summary of comparable homes: recently sold, for sale, in lieu, and expired).
4. Marketing: The first step in your marketing plan is to find an agent that will best represent you. When you interview agents, ask each one to demonstrate how they marketed other similar homes and discuss a specific marketing plan tailored to your home. Compare, too, how much money does each spend on marketing? Ask them how they advertise (newspaper, internet, call pickup hotline, etc.). Your listing agent not only needs to spend money, but they also need to spend it effectively. Not all agents are “created equal.” To sell your home for the best price in any market, you must have an agent who uses an innovative marketing approach. Eliminate any real estate agents who use traditional methods to sell your home because they don’t work in today’s market!
THE BUYERS ARE THERE… AND WITH THE RIGHT AGENT, THEY WILL COME IN BIG. Before you put your home back on the market, remember:
1. Honest communication is vital between you and your agent.
2. Price your home based on market conditions, competition, and the condition of your home.
3. Make sure your house is in perfect condition; some agents offer assistance in preparing your home for sale.
4. Have an innovative marketing plan firmly in place.