Why is My House Not Selling?
Is your house not selling? Don’t be discouraged. The reason it didn’t sell may have nothing to do with your home or the market. In reality, your home may have been one of the more desirable properties for sale. If your listing has expired and you still want results, before you put your home back on the market, take a step back and review your situation.
#1 – TEAMWORK
Your home is a major financial investment, and your relationship with your Realtor should be a full partnership where your needs and wishes are heard. You should receive detailed and dependable feedback on the progress of your sale. This will help you understand why your house is not selling. Your agent has a responsibility to source this feedback from the agents who have shown your home, and to communicate this to you so together you can make the right decisions about what to do next. How well did this occur the last time you had your home up for sale?
#2 – PRICING
The “right” price depends on market conditions, competition and the condition of your home. Pricing it too high is as dangerous as pricing it too low. If your home doesn’t compare favorably with others in the price range you’ve set, prospects or agents won’t take you seriously.
To help you establish a realistic selling price for your home, ask your agent to provide you with an up-to-date competitive market analysis (CMA) to give you:
- a review of comparable homes recently sold or currently for sale
- an idea of how long other homes have been listed, in order to calculate an average time in which a home can sell in today’s market
- a review of homes whose listings have expired, to understand what issues are at play
#3 – CONDITION OF YOUR HOME
Is your house someone else’s idea of a dream home? When buyers enter are they inspired? Do they think, “I love this house!” Remember, the decision to buy a home is based on emotion, not logic.
A house in move-in condition invites a sale. You need to consider:
- Fixing all the little squeaks and cracks
- Keeping it clean for all showings
- Making it uncluttered
- Brightening it up
- What your home shows like from the street concentrating on outside curb appeal
Plus – consider taking care of major items such as having your home painted. Offering an allowance to your prospective buyers so they can have painting completed is not the same as having it done for them. Now, as they’re trying to imagine what that new paint job will look like, they may also be discounting the price even further because of the less than perfect look of those walls.
#4 – Marketing
One of the first steps in your marketing plan involves finding an agent who will best represent you. When interviewing agents, test and compare their knowledge and ask each to demonstrate how they will market your home to buyers. Compare also how much money each spends on advertising the homes s/he lists, in what media (newspaper, magazine, etc.) and the effectiveness of one medium over the other. Remember, it’s not just how much they spend, but how they spend it.
House not selling? Say goodbye to any real estate agents using old, traditional methods to sell your home because they don’t work in today’s market.
In today’s marketplace, agents who use new and innovative non-traditional marketing approaches are the ones who are getting more homes sold fast and for top dollar.
In summary, with over $500 Millions Dollars in real estate sales, over 2500 real
estate transactions completed and over 25 years of real estate sales experience, Chris Hayes Team is a great choice when you’re ready to hire a Real Estate Professional to list and SELL your home, utilizing our proven strategies.
Reach out to Chris Hayes Team – Your Shreveport Bossier Real Estate Resource. 318 207-7653.