Why isn’t my house SELLING??
The first reason could be that it is not in line with the current market conditions. Okay, that is the nice way of putting it; let’s face it – it could be over priced. When a home is over priced a few things happen; REALTORS® may reject the inflated price and may not show it because they think the seller isn’t motivated. With so much information in hand, consumers have the means to compare your home to other properties on-line and disregard it or they may not even see it because it is outside of their preset search criteria or price range.
Secondly, another reason may be that it is not being exposed to the market effectively or enough. Simply put, if potential buyers are not seeing it or its not getting the exposure it needs to draw a buyer out of the weeds, it may have a very slim chance of selling.
Reason number 3 could be that there may be structural defects or too much esthetic work is required. A lot of buyers are unsure of the cost and work involved to correct any structural defects in a home and may not have the budget for a complete overhaul. This could result in an extended stay on the market. There certainly is a significantly smaller group of buyers that are comfortable purchasing a home with structural issues or in need of a full renovation.
Whether you’re buying or selling we will face these three factors head on. We know that the highest probability of a sale takes place in the first 2-4 weeks and a REALTOR® will work with you to show you the value of your home based on comparable properties most recently sold. Once you understand the market value of your home, there a few different pricing strategies to bring them to market.
With a ridiculously high number of buyers starting their search on-line it is important to get your home exposed to the market effectively. Your REALTOR® should have a comprehensive marketing strategy to do just that. They should work with professional stagers and photographers to showcase the great features of your home and get it looking 10/10 both on-line and in person.
We are not jacks-of-all-trades, but we do work closely with experts in the city who can inspect the property and talk you through exactly what it may need. They’re really great at explaining the cause and extend of the issue and will provide an honest opinion.
If your home isn’t selling ask yourself, is it over priced, is it being exposed to the market or is there something structurally/esthetically wrong with it? If you say yes to any of these, you may need a consultation for a second opinion.
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