Why Is My Home Not Selling?
If you have had your home on the market for several months, you may start to wonder why it just isn't moving. How can you encourage buyers to look at your house and introduce new "zest" into the sale?
The first thing to do is to get together with your REALTOR and discuss showing activity and feedback received from buyers and showing agents. Is it the CONDITION of the home? Is it the PRICE? Has it been EASY TO SHOW on short notice? It's a numbers game - the more showings you get, the faster it will sell, if it is priced right.
CONDITION - Does your home look the very best it can? With many options to choose from, buyers prefer to buy "move-in-ready" homes that have great curb appeal, freshly painted and with no deferred maintenance issues.
PRICE - Forget about what your neighbors sold their home three years ago. The market is constantly shifting, and you must price accordingly. Price is not determined by what you owe on the house , what you need to net, what you think it's worth, not even what your agent believes it is worth. Price is set by what a willing buyer and a willing seller can agree upon.
In a buyer's market, motivated sellers must price aggressively if they wish to sell in a reasonable amount of time. Your REALTOR can advise you of the available competition, the absorption rate (balance between supply and demand) of the neighborhood and the appropriate pricing strategy.
AVAILABILITY - Buyers are looking at a lot more homes before they make a decision. Sometimes they are looking at homes with an agent and they may see your home (which they may not have noticed in the MLS just because they input slightly different parameters!) and wish to see it on short notice. The more flexible you are for showings, the more exposure your home will have to active buyers, and the higher likelihood of selling faster. If you are not quite ready for a showing, ask the requesting agent to defer the showing half an hour so you can get the home in showing condition (never show a home if it is not in showing condition!).
Getting your home sold is a joint effort between you and your REALTOR. It is important for your listing agent to market your property aggressively, but you must do your part to ensure that buyers see a home that is as appealing and accessible as it can be.
NEED THE RIGHT ADVICE TO SELL YOUR HOME? Call The Alan Donald Real Estate Team on 843-900-0155 to get started. We get it done!
Please contact us if you have any questions or comments.