Your home has been on the market for many days and it is just not selling.
Let's start with a few possible reasons:
- Hard to show (tenants or owners who restrict showing appointments)
- Dirty or in need of repairs
- Dated, could use upgrading
- Functional obsolescence - 5 bedrooms with only 1 bath for example.
- No curb appeal - lack of landscaping, etc.
- Messy or cluttered
- Insufficient or ineffective marketing
- Priced too high
The bottom line is that for whatever reason your price is too high. The market has rejected what you are offering at that price. Now the other items on the list may be bringing down the price, but none the less you are priced too high.
So what can you do? You can lower your price or increase the market value of your home. You can also do a combination of the two.
Increase the market value:
- Paint and carpet are relatively inexpensive and will help to raise the value. If you do not replace the carpet, steam clean it.
- Clean the windows.
- Clean the exterior - cut the grass, pull weeds, pressure wash driveways, trim the hedges, plant some flowers.
- Make all minor repairs.
- De-clutter and stage the home to make it show at its best.
- Improve the marketing of your home.
In a changing market the real estate agent who charges the lowest fee, may not be the cheapest. You need a professional who does superior marketing. Find out who is selling homes in the neighborhood. Notice I said selling, not listing. The agent with the most signs may be successful at getting listings, but not at selling the homes.
There are agents who do a great job of marketing themselves or offer extremely low commissions to get listings, but may not move the homes. In a changing market you need to be on top of the game to be successful. If the agent is working with lower commissions (marketing fees). How will they pay for the increased marketing required to succeed? Where will they cut the corners?
If you need open heart surgery do you look for the cheapest or the best? Do you call a plumber or a surgeon? Ok no nasty e-mails please. I know selling homes is not heart surgery, but in most cases it is even more expensive.
If you are looking to buy or sell a home on Oahu, I would be honored to be interviewed for the job.
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RP,
A clean home is a home that sells! That`s our motto...