4 Reasons Why Your Home May Not Have Sold
So you put your home on the market only to have 2 or 3 months go by and not one offer came in. Selling a home can be challenging and a little frustrating too…most of the time you just haven’t found the right ingredients to make the home sell.
Working with buyers has a buyer agent, I have found some common factors that we see time and time again. Below are list of the top 4 reasons why your home may not have sold.
You knew that one was coming, but it is true. If the home is priced right you will get showings and written offers. If the home is price above what the market is baring, buyers may be reluctant to pass your home up to the one down the street with the same characteristic has yours but for less. Some buyers may view the home and may not want to insult the seller by offering what may appear to be a low ball offer, so they may choose not to make one.
If the home is need of some TLC or some updating, then the home should be priced accordingly. We are not talking about having a fire sale here, but a realistic price. The market will speak to the Seller on how well the home is priced; they will have to be willing to listen. If the home is not receiving the traffic that it should then the price is something that really should be revaluated. And this should be done sooner that later.
Was the home available for showings most of the time in reasonable hours? I have seen to many times when a viewing appointment was attempted only to be shot down due to the Seller unwilling to show at the time for what ever reasons. Buyers and their Agents will get frustrated after a couple of attempts only to cross the home of their list and move on. I am not indicating to have a 24/7 open sign on, but have a lock box on the home and expect to be flexible on showing appointments. Yes it is a pain, but this will be over shortly.
A good marketing plan is important. The home defiantly needs to be found online and through several online channels like social media, popular real estate websites and online classified ads. If you are present on the web, the Buyers will seek you out and find the home.
The condition of the home is for sure important part of the equation, especially if you want top dollar for the home. Remember the first item on this list…Price. The home should be kept in showing conditions at all times, again this is a pain, but needs to be done.
If the condition of the home is below average, then this is not a problem, just be sure the price is below average. If the home condition is a 10+….the Seller will be awarded. The condition of the home will more likely dictate what the home is worth.
Another important factor to keep in mind is to be sure to have your Agent ask for feedback from the showings. I recommend doing this within 24 hours of the showing where the home is still fresh in the mind of the Buyer and their Buyer Agent. This can be enlightening and offer some good insights in how the home shows and if the home is priced right.
Get with your Real Estate Agent to help you with valuating your home…pricing it right from the start can make all the difference in the world.