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My Home Isn't Selling

Suppose you have been trying to sell your home for months. You haven’t had even a nibble from a prospective buyer. What should you do?

Contact us to request a strategy meeting. We can bring you information about current sales activity in your neighborhood, as well as any feedback from agents who have shown the property to prospective buyers. What was the consensus about your list price? Were there any negative comments about the décor of your home? There may be something about your décor that buyers don’t like. Strong colors and busy wallpaper patterns can make a home difficult to sell.

Did agents mention that your home was hard to show? Agents need to be able to show your home easily and on short notice. If you have set up a complicated showing procedure, modify this to make it easier for agents to show and sell your home. If other listings in your area have lock boxes, you should too.

What are the current market conditions? Is your home the only one of its kind on the market not selling or is the market just very slow? How long is it taking similar properties to sell? Find out how many similar listings to yours have sold since your home was listed for sale. What are the asking prices? How did the properties differ from yours in terms of condition and amenities? Why does your agent think competing listings sold and your home didn’t? Are you being impatient or does your marketing plan need to be modified?

In most cases, the reason homes don’t sell is because they are priced too high for the market. Sellers often wonder why buyers don’t make offers on overpriced listings. Motivated buyers usually don’t have time to waste and a high price signals that the sellers may be unrealistic.

In a buyer’s market where there is plenty of inventory, buyers gravitate to the listings with the most competitive prices. If prices are flat or falling, buyers usually won’t make offers on overpriced listings for fear they might overpay in a declining market.

We should analyze your entire marketing program, including the list price, and set a new strategy. If your price is too high for the market, reduce the price enough to have an impact.

You may have to improve the condition of your property AND make a price reduction. If so, make cosmetic improvements before reducing the price. After the home is fixed up, reducing the price should generate more response.

It’s often difficult to get agents back to look at a home that has been on the market for awhile. A cosmetic facelift combined with a price reduction ought to generate new interest in your home.

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