What? Your home has been on the market for 6 months? 12 months? 2 years!? Surprisingly I have heard this a lot and there are usually reasons behind it. Sure, anyone can under price a home and it will sell but that’s not what most sellers want to do. You certainly don’t want to give away your home for nothing and many homeowners may be so close to their mortgage value that they can’t afford to. Have you been through multiple real estate agents, each one promising to sell your home and then after months, you fire them or let the contract expire and set out to find another one? It may not be the agent… It may be you or your house.
I’m not saying it’s not the agent because there are plenty of agents out there that will say anything to get the listing, including agreeing to price the house too high just to appease the seller. But if the home doesn’t sell it only makes the agent look bad and the agent has now wasted their time as well.
I don’t mess around. If you really want to sell, I’ll tell you the facts. The truth. The way we need to market in order to get the property sold. Do you want it to sell or do you want to sit on the market for months?
A listing has to stay off the market for 3 months in order to be relisted without record of the previous listing. If a home is pulled and relisted the next week, the records will show this. If a listing shows on and off for months or years, buyers and their agents will see this and it may be a big deterrent. If the property has been listed for months or longer, wait the three months if you can before we re-list. If you can’t wait, there are some serious steps to take in the mean time. If you can wait, then we will go from there. Either way – here’s what’s needs to happen.
If you can’t wait the three months:
- We’ll take a good look at what the issue may have been. Research existing comparable properties and see if pricing was the issue. Read more: Dangerous Pitfalls to Overpricing Your Home
- Talk to past buyers agents. If we can contact previous showings we will ask them what they felt was wrong with the listing and what could be improved. Take a consensus and determine the best way to rectify the problems.
- Find out what buyers ARE buying in the neighborhood and why they are buying. Bigger? Lower Price? More Amenities? Updated or Upgrades?
- Find out how low the seller can really go.
If you can wait the three months:
- Re-evaluate the market at that time. Find out how quickly similar homes have sold and how to price for the specific market and to the right buyers: Read more: What millennials want in a home
- Price lower than the closest competition and emphasize the features.
- Negotiate higher commission for a buyer’s agent if possible. This will make some buyer’s agents more likely to push the sale of your home.
- Correct issues that make your home less attractive than your closest competition. This means you may need to put some money into the home in order to get the money out of it. Updated kitchen? New appliances? New flooring or carpeting? New paint? Professional staging?
- Related: Could These Things Be Decreasing Your Home’s Value?
- Do all these things BEFORE listing. Have the home really ready and prepared before launching the listing.
It really comes down to two things: price and presentation. If you have one without the other, no matter of sprucing up will work and if you don’t spruce it up, you’ll have to go far too low in order to sell.
If you’re serious about selling, give me a call. I don’t mess around. I get to the point, I’m honest and I don’t just agree to get the listing. I am good at my job and can help you negotiate your terms and your price with a little tweaking here and there. Let’s do this!