Picture this! You have to sell your house. You do your due diligence. You hire a real estate agent after interviewing several. You do the repairs and updating the realtor recommended. You put your house on the market. Six months later, the house has not sold and you are stuck wondering why. The real estate agent has disappeared from existence and you are getting all these phone calls from other real estate agents telling you how they can do what the first one could not when your house fails to sell. You prefer to research out what happened and find the lessons learned from the experience before moving forward.
in order to help you in your research, here are some frequent questions to consider when your house fails to sell. First and foremost, you as a seller need to realize that you didn’t do anything wrong. You really didn’t fail at anything. You house simply didn’t sell and there are some usual suspects for the reason why. These questions go over the possible reasons and allows you to more clearly see what you need to do next.
When done looking over the questions below, check here for next steps.
Why didn’t I just try to sell it myself? – When your house fails to sell, you are probably regretting your choice to hire a real estate agent. Why didn’t you just listen to your gut and sell it yourself? You could have saved the commission. I can certainly understand why you would be considering this question when reviewing what happen. However, it is in your best interest to continue to work with an agent. There have been plenty of studies done showing that For Sale By Owners tend to be more stressed out, make less money and take longer to sell the home. Just think about the amount of stress you would have to undertake if you had not had the agent handling things behind the scenes for you. The stress level would have been much higher. Most agents can work with you in reviewing the history of the first sale attempt to figure out a different approach for a more higher likelihood of selling. If you would like us to do it, you can fill out the form here for more information.
Was the house staged by a professional? – Selling your home is like selling anything else in life. You have to have a good presentation to increase the likelihood that you will make the sale. On this page, you can see how doing some simple preparation work on how you house looks can greatly increase the number of showings you get, which in turn increases the number of offers you will most likely receive. Even if you don’t hire a professional stager, there are certain things you can do yourself to make sure the home stays presentable. You should keep the house clean (clean it like your mother was coming over to visit) and make sure all the clutter is picked up before showings. As far as furniture, make sure each room is using the space as wisely as possible so buyers can see how the room can be utilized. It is also a good idea to remove any non-decorative personal photos or mementos as buyers tend to have a difficult time looking through the personal items to see the home’s potential.
Did the house get the right repairs and/or updates? – Face it, your home is not perfect. You have lived in it for the last few years so wear and tear will take place, even if you maintain the house very well. Age will show itself. You need to be sure that the you do the right repairs that will make the biggest impact on buyer’s opinions on the property. I recommend you have an inspection done on the property to ensure that you catch all the repairs needed to be done, both external and hidden repairs. Updating should take place (if budget allows) in the kitchen and bathrooms. You should also devote some resources and time to making sure the curb appeal is where it needs to be. Finally, a fresh coat of paint and new (or repaired) floors will always bring new life to a home.
Were the online pictures good enough? – The old adage that pictures are worth a thousand words applies very well to selling your home. If your first attempt at selling your house including some photos taken by your agent on his smart phone, it is a good idea to rethink this decision. There are plenty of professional photographers who will come out to your property and take some outstanding photos for under $200 (it depends on square footage so it might be more). These photos put your house in the best light for buyers looking at your home online. Considering most buyers will being their search for a home online, you cannot take a chance by putting less than perfect photos online. It might seem like a lot to pay someone to do this for you, but just bite the bullet and pay the money.
Was the home sale advertised timely and widely enough? – For many agents, placing the home on the MLS and praying it sells is about far as you get with marketing your home for sale. You can do so much more for getting the word out about your home. The Internet and social media is always a foolproof way to build some excitement for a home (especially if your photos are top-notch). Your agent can also focus on getting the word out to other agents through the reverse prospecting tool on the MLS. This tool lets your listing agent know which buyer agents have clients that have been sent the property in an email. The agent should reach out to each of these buyer’s agents to let them know why the home they are selling is great! The agent can do this via email or phone. It should happen daily as more buyers are added to the system on a regular basis. Finally, you can always host an open house for the property. It is a very low probability that you will sell the house at an open house, but you might get some neighbors coming to the house to see it and your agent should make sure these neighbors know that this gives them a great opportunity to pick their neighbors.
Was the sales price correct on the property? – Finally, the last question to consider as you contemplate why your house didn’t sell is the list price. How much did you want to get for you home? If you did all the other things needed to sell your house, then most likely you priced yourself out of the market. A good general rule of thumb is that if you get no showings in the first week, or no offers after 14 days, you probably priced yourself out of the market and the market is rejecting the listing. I can’t stress enough how important it is to get the list price correct if you wish to sell your house quickly and efficiently.