It’s easy to get frustrated when your home is listed and you are getting little activity with increasing days on the market. Other homes are selling yours is not.
I was talking with a client last week, getting our game plan together on listing their home. She was torn between listing price and not wanting to accrue days on the market. In response to her questions I explained to her…
The three reasons a home won’t sell
The condition of a home 100% affects the price and marketability. I suggest to anyone thinking of selling, start early with prepping your home. Meet with a Realtor and get advice on how to improve your condition in order to get the most bang for you buck. Buyers are easily influenced by first impressions. Have your home looking the best that you can when it’s time to hit the market.
If you are listing FSBO, you are in for a big task. If you are listed with a Realtor, they SHOULD be doing this for you. (FYI: word of mouth and social media are still great marketing things to do as a homeowner even if you’re listed with a Realtor). My brokerage and myself market extensively for our clients. The major online search engines, social media, CRM platforms etc. Without marketing, people are not seeing your home. Correct and ample marketing is crucial to getting your home sold.
Last but not least, it comes down to price. You must price your home according to your market conditions.
The housing market is like any other market where there is supply and demand. When I am pricing a home I use comparable properties to theoretically determine the sale price of the property I’m assessing. I use those comps (comparable properties) to see what a buyer was willing to pay for a specific home in a given market. The subject property (your home) is compared to the comps, and the comp sale price is adjust accordingly based on the differences between the homes and the value of those differences So that theoretically, in the same market, your home would sell for the same price as the comp property +/- value of the differences.
If your home is in good condition, your marketing is sufficient and you are priced correctly, you will have activity on your home.
If you have questions about listing your home, I’d love to talk with you! Contact me here.