So the 180 days have come and gone and your house did not sell and the contract with your agent has now expired. Now what? You still want to sell, but don't know what went wrong. You might need to take a deep breath and look at the situation from another perspective. It has been determined in the industry that one or more of the following key areas are to blame when homes don't sell.
Here are 4 important points to consider when determining why your home did not sell:
Partnership with your Realtor
The listing of your home with a Realtor should involve open communication between the both of you so that your desires are heard and where you obtain regular communication on the progress. How well did that transpire during the course of your listing? And how did you respond to that communication?
Pricing
Many variables dictate the right price for your home. If you priced too high, the other homes buyers are looking at in your price range will be superior to yours and will certainly make yours less desireable. Remember that buyers who are out there looking will have had the benefit of seeing several homes when yours becomes listed and they decide to come see yours. They will instantly recognize whether there is value to the home in relation to how it compares to the others. Simple as that.
Condition
In today's market, the sale of your home is much like a 'beauty contest.' You simply have to show head and shoulders above the rest of the homes on the market in your price range. (Again, another reason to be in the right price range.) The decision on which home to buy, though many don't realize it, is more emotion than common sense. People buy a home based on the way they feel when they come in, so you want to make sure your home is clean and comfortable with no offending smells or sounds. And those offending sounds could be the squeaks and creaks of floors and doors that you could have easily fixed. Seriously consider replacing carpet and doing the painting beforehand, rather than offering an allowance. Buyers often have trouble imagining the new paint color or new carpet and will further discount the price while they are looking at the stained carpet and chipped paint.
Marketing
When talking to your Realtor about listing your home, find out what kind of marketing they will be doing for you and where they spend their marketing dollars. You will want to team up with the agent who has a powerful plan that will get your home exposed to the broadest audience of buyers possible.
Don't be discouraged. Your home will sell at the right time at the right price to the right person. Buyers are out there looking all the time.
Remember the above topics next go-around when you are ready to re-list with a competent agent like myself!
I have a useful tool to help you learn about past sales in your neighborhood called a Market Snapshot. Sign up for the Free Market Snapshot here. Or if you like, call me for a personalized market evaluation at 502-435-5524.
You can search for homes in the Louisville KY area for free at my search site. If you have any questions about buying real estate in Louisville, KY, or about homes for sale in Oldham County, as well as the surrounding areas, feel free to contact me at 502-435-5524.
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