Many people want to know what the secret is to getting the most out of their real estate and to appeal most consumers looking for real estate today. This report will guide you through doing many of
10 Reasons Why Your Home Probably Didnt Sell
This “FREE” report outlines 10 reasons why I believe you may have had trouble selling your home, while it was listed with another real estate company. These suggestions reflect what I see as to why many homes listed do not sell during the listing period. Please note that these reasons are only one REALTORS® conclusions and do not direct any accusations or suggest purposeful wrongdoing by any other real estate company and/or their agents.
#1YOUR PROPERTY WAS PRICED TOO HIGH!
Like it or not, price is generally the main culprit when it comes to why homes do not sell. Yes, the property might be in a poor location or have other negative factors impacting the value, but the bottom line is that somewhere out there, at “some” price, there is a buyer willing to purchase that property. If the price is attractive enough, or priced below market value, there is always a buyer willing to purchase it. Making certain your real estate is priced at market value is important, if you’re serious about selling.
#2YOUR PROPERTY WAS NOT LISTED ON THE MULTIPLE LISTING SERVICE (MLS®)
If you opted to try selling your home on your own (FSBO), or to exclusively list your property with one REALTOR®, then your home may not have been exposed to enough buyers. It’s imperative that your property be in the correct position on the MLS® to gain the maximum exposure to REALTORS® selling property in your area.
#3LACK OF STAGING
Did your REALTOR® help stage the home or make suggestions as to enhance the marketability? If not, this could be one of the downfalls of not finding a buyer for your property. Remember that you can do all of the staging in the world, but if your property is priced too high, staging will not sell it. One of the ways that you can determine if staging is a factor is by judging the number of showings you had. A lot of showings and no offers could indicate that staging might help.
Many times, as a real estate professional, I have noticed properties listed that have had few, if any, photos or virtual tours featured on the listing. Ask yourself if this may have played a role in the marketing exposure of your home.
#5LACK OF FACTS
Sometimes a commonly overlooked aspect of marketing a home is a lack of relevant information. Facts about improvements made to the property can be a good marketing tool in building value in the minds of potential buyers. Are there any improvements being made to the community...new development, amenities, transportation improvements, etc?
#6LACK OF OPEN HOUSES
Many REALTORS® do not like to hold open houses, as they assume that people not working with a real estate associate aren’t qualified or that it is just ‘nosy neighbors’ that check out open houses. I believe it is important to expose your property to as many people as possible (other REALTORS® and the general public). Open houses are excellent ways to get people inside your dwelling and then get them interested in the property! And if it is a neighbor checking it out, if they live in and love your neighborhood, they most likely know people, such as friends or family members, who have expressed interest in moving to their neighborhood.
#7WORKING WITH THE NEIGHBORS
Who has a vested interest in the sale of your home besides you... your neighbors! That’s not too say that your neighbors will be glad to see you leave, only that they will have a concerned interest as to who might move in. Usually if your neighbors know someone interested in your neighborhood and can help sell your property, they will! This is generally a winning scenario for everyone involved.
#8NO INTERNET PRESENCE
Unfortunately, many REALTORS® still haven’t invested in establishing an online presence. Many buyers are starting their home search online and relying upon it to find their next home. If your property is not properly positioned and presented on the Internet, today’s tech savvy buyers likely won’t even see it.
One of the main functions of your REALTOR® in listing your property is to a make certain the listing is exposed to the other REALTORS® in your community. Networking with other REALTORS® and participating in REALTOR® caravans or REALTOR® open houses is a positive marketing tool.
#10DRAMATIC CHANGE IN MARKET CONDITIONS
Unfortunately, you can use the services of any REALTOR® and have your home positioned well based on the market conditions when you first enter the marketplace, but a sudden shift in market conditions, or major world events, can cause your home not to sell. Examples of this include a sudden unexpected increase in interest rates, the recent worldwide economic crises, a terrorist attack that causes uncertainty in the financial markets, war, etc.
Don’t be discouraged if your home did not sell the first go around. Make sure your property is priced correctly; follow these suggestions, have a positive outlook and I’m certain your property will sell.
Sometimes a fresh new sign, a new marketing plan and a change of perspective can be a good thing for everyone involved. If you think you might be ready for a new plan and some fresh ideas, I would love to visit with you.
Lindsey Smith has obsessed over better ways to build, grow and operate businesses for the last 15 years. After running a successful real estate team and consulting company, Lindsey joined CIR REALTY i....
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