Why Didn’t My House Sell? Top 5 ReasonsWritten on November 21, 2010 by Kelley Skar in Industry Matters
So you were listed on the market for 90+ days and your house did not sell. Are you sitting back and asking, “Why didn’t my house sell?” What are you blaming as a seller when you are on the market for that long with a ton of showings and no offers? Are you looking at the REALTOR® that had your house listed for sale? Are you looking at the market and blaming the “slow down”? Are you looking at the condition of your home? Did you list your home at a “fair market value”?
Incredibly valid questions! I have compiled a list of the Top 5 Reasons your House did not sell and some advice for you, Mr. and Mrs. Home seller, to get the sale that you need and desire. Here you go, my list…at the bottom of this post is a video blog I did on the same topic just this past Friday!1. Price – The price of your home is going to be the most important piece of the marketing pie. If the potential buyer does not see value for their hard-earned dollar you are NOT going to have any showings. If you are lucky to get showings, you may have priced yourself right out of the market and as a result you will not have any offers. Make sure that your Agent has done their homework and is on top of the market in your neighborhood. You could have the most beautiful home on the block, but it ALWAYS come down to PRICE!
2. Condition – If your carpets need to be replaced, if you have holes in your walls, if your lawn is never cut or your walk never shoveled, if your home has been heavily smoked in, if you have never replaced the switch plates, these could be issues in selling your home! On the flip side, if you have done a renovation and have OVER Renovated for the area, this is also going to be a major issue when selling the home. Make sure the reno matches what other renovated homes have in the area, you could wind up losing big if you don’t do your homework.
3. Location – This is one of the most important considerations when selling a home or buying a home. If your house is backing onto a major roadway you obviously cannot move the house, but what you can do is price the home accordingly. If you are buying a home consider carefully the location as it doesn’t matter when you sell, whether that is 5 or 20 years, the location will have a direct impact whenever you make that decision.
4. Marketing – Marketing is important, it is more than just a fancy feature sheet and putting your home on Realtor.ca, it is about getting the word out to the public that YOUR house is NOW for sale! Be sure to search out the right REALTOR® that is going to take the time to market your home properly. This in my mind is going to include professional photography, video, internet marketing just to name a few.
5. The REALTOR® – You need to have a good relationship with your REALTOR®, it needs to be open, honest with a ton of communication. You need to be as educated about the market as your Agent is, it doesn’t matter whether you are selling or buying, you will need to make an educated decision and your REALTOR® should be your guide and teacher. All I am saying here is choose wisely…
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