Three Reasons Why Your House Hasn’t Sold
Selling your house can be a stressful time. Often times Sellers will expect calls and offers as soon as they put the “For Sale” sign out front, and they don’t come. If you’re reading this article you’re likely close to or apart of this very situation right now! A house that won’t sell can be a demoralizing and confusing time. Here are three reasons why your house hasn’t sold:
You’re not using an agent.
Sellers hire a Realtor to sell their home because a Realtor will maximize the Seller’s return on the sale of the house. Generally, a person who sells a property “For Sale By Owner” will make only 94% of what they would have made working with an agent including that agent’s commission. A Realtor offers their network and abilities to move your property and you should have one represent you in a sale.
You aren’t doing any marketing or advertising.
A good agent will spend several hundred if not over $1,000.00 on advertising a property through multiple mediums and marketing the property to reach prospective buyers. This also includes providing professional photography, a floor plan, and food and drink for Open Houses and Broker Tours. (A Realtor will pay for these expenses out of pocket.) These days, the internet affords smarter ways to pinpoint your best leads/prospective buyers. Find an agent who knows how to use these tools.
Your house is priced too high.
The market speaks for itself. It comes down to location, condition, and price. At the end of the day, if you have hired a competent agent and they have pumped money into marketing and advertising and the house still hasn’t sold it’s because the price isn’t right. You can’t change your house’s location. If you have the means and energy to make changes to your property, that is an alternative to dropping the price. Open Houses will provide opportunities for feedback. For example, if everyone is saying the kitchen needs to be redone, and you don’t want to drop the price then re-do the kitchen. Otherwise, reduce the price.
If you are looking to sell your house and would like a free consultation on how to move your property from “active” to sold, contact Michael here.