What do you do when your home didn’t sell?

priddis-mansion

If your home has just come off the market and hasn’t sold, don’t be discouraged. The reason it didn’t sell may have nothing to do with your home or the market. In reality, your home may have been one of the more desirable properties for sale. If your listing has expired and you still want results, before you put your home back on the market, take a step back and review your situation.

Here’s four important points to keep in mind for selling that home:

  • Teamwork: Your home is a major financial investment, and your relationship with your Realtor® should be a full partnership where your needs and wishes are heard, and you receive detailed and dependable feedback on the progress of your sale. Your agent has a responsibility to source this feedback from the agents who have shown your home, and to communicate this to you so together you can make the right decisions about what to do next. How well did this occur the last time you had your home up for sale?
  • Pricing: Did price work for or against you? The “right” price depends on market conditions, competition and the condition of your home. Pricing it too high is as dangerous as pricing it too low. If your home doesn’t compare favorably with others in the price range you’ve set, you won’t be taken seriously by prospects or agents.
  • Condition of Your Home: Is your house someone else’s idea of a dream home? When buyers enter are they inspired? Dothey think, “I love this house!” Remember, the decision to buy a home is based on emotion, not logic. A house in move-in condition invites a sale. Y
  • Marketing: One of the first steps in your marketing plan involves finding an agent who will best represent you. When interviewing agents, test and compare their knowledge and ask each to demonstrate how they will market your home to buyers. Also compare how much money each spends on advertising the homes s/he lists, in what media (newspaper, magazine, etc.) and the effectiveness of one medium over the other. Remember, it’s not just how much they spend, but how they spend it. To be competitive in today’s marketplace, agents who use new and innovative, non-traditional marketing approaches are the ones who are getting more homes sold fast and for top dollar.

BUYERS ARE OUT THERE…AND THEY WILL COME!

Before You Put Your Home Back on the Market remember:

  • Effective communication is vital between you and your agent.
  • Price your home according to market conditions, competition and the condition of your house.
  • Be sure your house is in showcase, buyer ready-condition.
  • Have an innovative marketing plan firmly set in place. Not intended to solicit property currently listed for sale.

If you have any questions about an expired listing, selling your home or the market in general, please feel free to contact us.

 

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