Why Hasn't My House Sold?

If your home was on the market for awhile and did not sell, try not to get discouraged.  There are several things to consider and sometimes it has nothing to do with your home or the market.  The first step is to make sure you make a commitment to do whatever it takes to get your home sold.  After you've done that, there are four things to consider.  Usually a problem with one of these will explain why your home did not sell.  They are:

1. Teamwork
2. Pricing
3. Condition of your home
4. Marketing

1. Teamwork-Your relationship with your Realtor should be a full partnership where your needs are being heard and communication is a priority.  You should receive prompt feedback after showings occur so you have an idea of what the market thinks of your home.  You should also hear from your Realtor regularly even if there are no showings so you can assess the current market and figure out why your home is not selling.
2. Pricing- The "right" price is determined by market conditions, the condition of your home and the competition.  You definitely want your home to compare favorably.  Your agent should have compiled a competitive market analysis showing recent sales in your neighborhood, homes currently for sale and those currently under contract.  You'll also want to review the days on market so you'll know what's typical and you can determine whether or not you're off the mark.  An important point to keep in mind is that what you paid for your current home has no bearing on its current value.  Market value is determined by what a buyer is willing to pay and a seller is willing to accept.
3. Condition of Your Home- Buyers buy based more on emotion than logic so you want to make sure when they see your home, they fall in love.  Some important things to consider are:

•     Maintenance- make sure you fix anything that needs fixing and that you've touched up the paint.
•    Cleanliness- a clean home makes buyers feel like they could live there.  If the home is dirty, they have to envision cleaning up your mess in order to feel comfortable there.
•    Clutter- make sure you take all nick-nacs off of the shelves and remove any extra furniture, pictures and decorations.  Buyers need to envision themselves living in your home and if your personal items are overwhelming, it makes this impossible.  Less furniture also makes the rooms look larger.
•    Curb Appeal- make sure you landscape and keep the yard mowed.  You don't want to turn a buyer off the minute they pull up in front of your home.

4.  Marketing- When interviewing agents, make sure you ask them what kind of marketing they intend to do for you.  Ask them the effectiveness of what they're doing and get rid of any agents that are not using the most modern technology.  The old, "traditional" methods don't work anymore!  The agents using the newest, most innovative technology are the ones getting their clients' homes sold the quickest and for the most money. 

 

Remember: The more your home stands out from the competition and the neater and less cluttered it is, the more exited a buyer will be about it.  This amounts to more money in your pocket and a quicker sale!  For more tips and answers to any of your questions about marketing your home, contact The Boyle Team anytime.