4 Reasons Your Home Isn't Selling

What's happening? Why isn't it sold?

One of the vital facotrs was somehow "off." Even in a market with plenty of inventory, a home will sell in a reasonable amount of time if the follwing four factors are done correctly.

  1. Price
  2. Presentation
  3. Marketing
  4. Negotiation and Follow-Through

 

1. Price - Today's home buyers are feeling the squeeze of higher prices AND higher mortgage rates. Even slightly overpriced homes are getting overlooked. Once your listing starts to go stale, it's hard to regain momentum. I call this chasing the market.

 

What you can do now: Analyze the latest sales in your area to make sure you're hitting the right number that buyer's expect to see. That includes taking a hard look at real-time buyer behavior and any feedback you get from open houses or showings. Pricing at, or even slightly below, current market value is a winning play because it drives more buyers to your listing - and that amps up the competition for your house. 

 

2. Presentation - Making your home look more desireable than others for sale in the same price range requires effort, but it will pay off. If you can't or won't make the effort to make sure your house presents better than others in its price range, you will have to make an adjustment to the price.

 

What you can do now: You only get one shot at a first impression. Hop in the car and go drive by competing homes that are currently for sale. Then look at your house with a critical eye. Be honest with yourself and ask the question, "How does my house stack up to the competition?"

 

3. Marketing - Position your house to be seen by the greatest number of buyers. Provide enticing photographs and descriptions that show buyers they really must see this house.

 

If your house isn't selling, there's a chance it isn't getting the visibility it deserves. The best marketing companies are using highly targeted digital marketing, social media strategies, custom video content,cusomtized websites and more to get listings in front of the right buyers and the right time.

 

What you can do now: You have to do more than just put your home online and hope it sells. With the right pricing, staging, and marketing, your house will sell in a reasonable amount of time.

 

4. Negotiation and Follow-Through - These stages come after you've received an offer and are critical to going from offer to closing. This is the stage where more and more transactions are falling apart. Why?

 

In today's market, sellers who aren't open to negotiate on things like closing costs, inspection repairs, or other concessions are often left behind. 

 

What you can do now: Be willing to meet buyers where they are. There are more homes on the market which means buyers have options. If the goal is to get the deal done there are creative ways you can help them get across the finish line. 

 

Same house. Different strategy. Completely different results.

You don't have to continue to go through a disappointing experience. Once these factors are in place, you'll be on your way to a successful sale.