It is always a disappointment when a home stays on the market for a long time with no buyers in sight. It is an even greater frustration when your listing expires after giving it several months. What went wrong? Why were requests for showings few? What could you have done to attract potential buyers? Is the market really slow, or is just your house?
One piece of advice to sellers: Don't wait for your listing to expire before asking the above questions. Don't be a passive seller. Review your marketing strategy with your Realtor® after 30 days (or less) and resolve to address any issues immediately.
Some points for discussion in your review should include the following:.
Is your home priced right? Sometimes, it all boils down to pricing it right. Realtors® who are looking for properties to show to their clients know when your listing is overpriced. This is BIG! It is one of the main reasons to skip showing your home, and instead show the next home in the neighborhood.
Make sure your Realtor® regularly updates you on the market behavior in your area, to see where home values are going. If your home has been on the market for 3-4 weeks, and there are no buyers in the horizon, do not discount the possibility that pricing could be the culprit. Be flexible with pricing, and accept that an adjustment to the asking price may be the single most important (sometimes painful) decision you will make to successfully sell your home.
Is your home always available for showing? There is less interest to show your home when you want 24-hour advanced notice, or when you only want to show on certain days and limited times. Know that Realtors® have to map out an itinerary for their clients on a scheduled day, and when you make it difficult for them to fit your house into their schedule, they will most likely skip your home. As much as possible, be flexible with showing times.
Does your Realtor® hold open homes? A hard-working Realtor® will insist on doing open homes whenever possible in order to show in potential buyers and Realtors® alike. When advertised adequately, assuming there is nothing else that deters from wanting to see your home, your Realtor® should expect to welcome plenty visitors to your open homes.
Is your home spruced up and "show-ready?" There are many ways to make your home more appealing to potential buyers. Simple things like making beds, getting the dirty plates in the dishwasher before you leave for work, spraying some air freshener, or putting a centerpiece or flowers on the coffee table, all help make the showing experience an enjoyable one for buyers. Curb appeal is also something to conside,r as this is the first and most important view that your visitor will see. Make sure it's inviting enough to go inside.
Can you do minor repairs? If your bathroom door is squeaky, or there is a hole on the wall, or maybe a minor leak in the faucet - fix it! It doesn't cost much to get minor repairs done, and your home will present well to visitors.
Is your home priced right? Oh, did I mention that already?
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