Why Did Your Home Listing Expire Unsold?!
Phyllis Lerner has written a great post about Expired Homes and the reasons they did not sell, and more important, how to get the house sold. Please drop by her blog and leave a comment. She will appreciate it.
When you've kept your home always show ready, left on time to accommodate showing appointments and anticipated an offer for months, it can be quite frustrating when your home listing expires without a sale, or possibly even an offer. It is tempting to blame your marketing, your listing agent, a bad local market, improper pricing, or other factors. It could be any one of these or a combination of such. Let's look at your situation as a straight-forward analytical formula:
Supply & Price
Time on Market = _________________________________
Demand, Product Quality & Marketing
- If the supply of homes for sale increases without a corresponding increase in demand, the time your home stays on the market will increase.
- If you increase the price, the time it stays on the market will increase. If you decrease the price, the time on market will decrease.
- If the quality of your home (appearance, staging, cleanliness, paint, maintenance, extras, upgrades) increases, the time it stays on the market will decrease.
- If the quality of the marketing increases, the time on market will decrease.
These statements are generalizations, but the ratios are such that increasing anything on top of this formula (Supply & Price) should increase time on market, while increasing anything on the bottom of the formula (Product Quality & Marketing) should decrease time on market. The bad news is that you cannot control supply and demand. You, or your listing broker, can control marketing, but it cannot overcome a supply overage, or negatives in product quality, or to high of an asking price. The good news is that you have some control over product quality and total pricing control.
Take action today and let us help you control the process. Contact me now at 914.438.7556 or email me and we'll:
- Provide a Comprehensive Market Supply & Demand Analysis.
- Provide a Comparative Market Analysis to allow you to view your home's condition, features and price in relation to the competition.
- Provide an analysis of previous marketing and recommendations for future marketing and media tailored to your needs.
Our Business is Helping You Sell Your Home
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Let us help you take control!SELL FASTER & FOR MORE MONEY BY LEARNING A BUYER'S MIND SET
HOW BUYERS PERCEIVE YOUR HOME FOR SALESEE WHAT MARKETING METHODS & TECHNOLOGIES WE USE TO SELL YOUR HOME
Phyllis Lerner, Realtor
Broker / Owner
http://westchester-real-estate.us
914-438-7556Voted 2010/2011 FIVE STAR Real Estate Agent by Westchester Magazine
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