What To Do When Your Home Isn’t Selling

By
Real Estate Agent with Prudential New Jersey Properties

Placing a home on the market can be a very frustrating experience for residents expecting a fast sale, only to find  themselves waiting for an offer six months later. It is all too familiar in this market today. Most of the US has a slow market. her in northern NJ homes are selling but slower than before. Less homes are selling and sellers are looking for ways to change that.

 Before you pull out your hair consider the basics:

  • Inaccurate Pricing-A house priced at market value piques the interest of real estate professionals and buyers, while overpricing chases them away. Even if the seller adjusts the price later, it's difficult to recapture people's interest. Home sellers should depend on factual reference points, such as an appraisal and comparable, such as Comparable Market Analysis, to help estimate market value. Real estate professionals can prepare comparables by examining similar properties that recently sold in your neighborhood, which is the best way to arrive at a realistic asking price.  Consider pricing ahead of the curve. (see previously posted blog called Pricing ahead of the Curve)

 

  • Insufficient Exposure-If you are having trouble selling your home without assistance, you may want to consider using a real estate professional. As reported in a National Association of Realtors study, buyers were most likely to learn about the home they purchased through a REALTOR®. Sales professionals develop comprehensive marketing strategies to sell a home, such as open houses, yard signs, multiple listing services, newspaper ads, the Internet and brochures to give a property maximum exposure. Exposure is very important.

 

  • Home Appearance-Buyers see an average of seven homes in a single day. Sellers can't rely on buyers to use their imagination; they need to capture it.  Real estate professional have experience in rearranging furniture and eliminating clutter to help homes appear more spacious, bright, and cheerful.  Little home improvements like a freshly painted door or well-kept lawn always appeal to potential buyers.

 

  • Terms of Sale-Even if the home is accurately priced, and the buyer is delighted with what he or she sees, if the buyer can't live with the terms of the sale, he or she may walk away. What sort of terms or conditions have you placed on the sale? Evaluate how this may be affecting a potential sale.

  • Less than desirable neighborhood-While you can't control how surrounding properties look, home sellers should become proactive in the upkeep in their communities.  Joining your town's local beautification organization can help eliminate eyesores and boost property value in your neighborhood.

Be different and stay ahead of the market. Be unique in your approach to spark interest of the buyers. What makes your home different or better than another? This is not the time to cut commission when you need to sell and you want the buyers. Remember you get what you pay for.

 

No Matter where your home is for sale I can help you by matching you with an excellent Realtor that WILL work hard to market and sell your home. Call me today so you cna get on the road to selling your home with success.

(973) 252-4044 ext.328.    www.LauraJecker.com

Comments (6)

Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Laura,

Great information and very informative. We all should learn from each other experiences.

Oct 15, 2007 02:31 AM
Paul Silver
Tiverton, RI
Rhode Island full service real estate firm

Good information Laura... pricing is important, as is how the place looks... These days, some sellers are unrealistic about pricing the house to market...

Let's hope they read your blog!

Thanks... 

Oct 15, 2007 02:43 AM
Maria Couto
RE/MAX Premier - Berkeley Heights, NJ
Realtor with "Results That "MOVE" You'
Good information for the seller. How about the listing agent? I've run out of ideas, other than giving the house away. Realtors show, desirable location, below market price, condition OK. Market in my area is extremely slow. Stats in September show only 3 homes closed. What to do? What to do?
Oct 15, 2007 03:14 AM
Laura Jecker
Prudential New Jersey Properties - Vernon, NJ
Thank you Anthony. It is up to us to educate and make a difference in markets like this. Watch for my post for What a listing agent can do to make a difference in this market.
Oct 15, 2007 07:00 AM
Laura Jecker
Prudential New Jersey Properties - Vernon, NJ

Paul,

I think it is up to each agent to treat their client with respect and show them what is selling and what is expiring. When the seller is really ready to sell the prices will align within the market.

Oct 15, 2007 07:02 AM
Laura Jecker
Prudential New Jersey Properties - Vernon, NJ

Maria,

 I understand your frustration we all feel it at some time or another. I will be posting a blog what an agent can do to make a difference in this market. Feel free to add your suggestions as well.

Oct 15, 2007 07:03 AM