Four Reasons Your Home Did NOT Sell

And, what to do next

You listed your home and it did not sell. You may be wondering what to do next. You may also feel frustrated or you may have had mixed emotions when buyers came to view your home.

You may even have lots of questions. Do I relist the home with the same broker? Do I try to sell it myself? Do I pull it off the market and wait for a better selling season?

You are probably getting lots of calls from agents and brokers asking you to list with them. Where were they when your home was on the market? Why didn't they show my house? They are all very good questions. First, agents have a responsibility to show their listings before others. Second, the buyers that the agents were working with at the time could have been in a different price point or may not have been ready to buy at that time.

So, what do you do now? Before you do anything else, you have to think about why your home may not have sold. There may have been one or more good reasons.

There are 4 basic reasons why a home doesn't sell initially.

1. Accessibility

How easy was it for agents to show your home? Was there a lockbox? Your home needs to be ready to show --- when the buyer wants to see it --- and at their convenience. It is still a buyer's market and if they cannot see your home they will move on to the next one.

You should make it as easy to show as possible (within reason, of course). The simple truth is --- The easier it is to show your home, the faster it will sell.

2. Condition

You only have one chance to make a first impression. From the minute a buyer pulls up in front of your home, impressions are being formed. If the outside of your home is neat, clean and manicured, the feeling a buyer gets is that the seller has maintained the house --- making them feel at ease.

Fixing that squeaky door, marked-up walls, dated carpet are all examples of things we may tolerate when we live in the home. But, these small improvements go along way when you market your home for sale.

I have said before, make sure you view your home through "Buyers EYES" before you list it. Make it clean, make it neutral and it will sell.

3. Price

We call pricing, positioning.

Often, seller's say to an agent, "let's put it on the market for "x", we can always reduce it later." I want to help you understand how that may become a detriment to your sale. The most important time in a listing is the first few weeks on the market --- when most of your first showings take place.

A market analysis or CMA, allows you, the seller, to understand the current local marketplace AND be a part of the decision making process. It allows you to look at where your home is positioned in relation to your competition. You don't want to leave the impression that the home is over priced or have buyers create a misperception that you are unreasonable.

Positioning your home correctly, can make a difference between a quick sale and one that is always catching up with the market. Remember, statistics have shown a home that sells faster means a higher price for you.

4. Marketing

This category is often overlooked. Seller's assume it is as simple as an ad in the paper or throw a picture on the internet. NOT SO!

A good marketing plan BRANDS your home in a way that showcases it's unique features. It is strategic and when put in writing by your agent --- can be reviewed and discussed up front. Goals should be assigned and you should understand how your home will be positioned in the marketplace. Each home will need a blend of newspaper, direct mail, internet, social networking and more. And, as important is marketing FACE-TO-FACE with other brokers in the form of broker tours or Home PREVIEWS. How much of each will depend on your price point and your goals as a seller.

And, don't forget --- over 40% of the calls an agency receives is from the SIGN. So, it behooves you to put this marketing tool front and center in your lawn and in your marketing plan.


Copyright - Pamela Stetson 2012, www.PamelaStetson.com

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Celia Riggio August 24, 2012 at 04:32 PM
Great post. The impact that these 4 simple points can have on a property sale is amazing. When a well priced property is marketed correctly, it moves!


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