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Seller should find out first and foremost how their asking price compares with other homes on the market. This is usually the main reason a house does not sell. Did you have showings and receive offers? This is an indicator of whether or not the marketing that your agent was doing was effective. How many other homes in the area sold over the last 6 months? What prices did they go for? Was your home easy to show, ie. available most of the time? Does your house show it's best or is it cluttered and messy? Was the home advertised in as many spots as possible and was it targeted to the right audience? Were the photos used in the ads top quality and plentiful? Hope this helps
In the current seller's market there is definitely an issue with a listing expiring after 6 months on the market! Most socal communities are averaging 70-100 Days on Market (DOM) for a home to sell. This number is skewed by short sales which generally take longer to sell. If the home has not sold in 6 months it is likely significantly overpriced or may have some serious issues. If you know the home well, you will be able to provide more detailed advice. Good luck.
I would use a small collection of information in summary report form to convey the likely reason(s) the home has not sold:
What does the feedback indicate? Condition issues? Price? A general statement supported by actual comments from agents and buyers will convey the issues that your seller doesn't necessarily accept from you ("You are just saying the price is too high because you want to earn a commission.")
Tell them the "state of the market" and what the future is likely to hold. I prepare a grid that shows activity over the listing period at the home's price point and current stats. The grid shows how many properties are active, pending, and sold - and then I calculate the absorption rate. If there is 6 months of inventory, the market is in "equilibrium" (roughly balanced with buyers/sellers). If there is less than 6 months, the market favors the seller; if there is more than 6 months, the market favors the buyer.
Prepare a "Going Forward" plan. Something has to change: price, paint, staging, cleanup --- whatever. The last thing a seller wants is more of the same thing they experienced in the first six months (low interest from buyers, no offers, low offers...whatever it was.) Put the feedback and stats together in your plan - it shows you can synthesize information and turn into an action plan.
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