Deciding to sell your home is not a decision that is made lightly. There is usually a reason and a plan for the future that has been created. A vision for the future you are wanting to create.
There is nothing more discouraging than having your listing expire. The process of getting your home ready for sale, the staging of your home and making time for showings and open houses and then you end up having nothing to show for it. That can be a real disappointment and discouraging those with expired listings to even try again.
The good news is there are real reasons why your home didn’t sell. The main reasons will almost always be Price, Presentation and Marketing. Understanding these reasons can help you do things differently when you relist your home.
- Condition – Most home buyers are able to see beyond slight imperfections, but it’s important to offer a clean, neat home free from chipping paint, clutter and debris. A home purchase for anyone, is a big investment. Having your house looking its absolute best along with staging attracts many buyers and will get offers.
- Photographs – Most of today’s buyers start their home search online. That is why the presentation of your home is so crucial. You get that one first impression. You want your listing to make a statement and stand apart from the rest of the competition. It is very important to showcase your home through social media first in order to attract the buyers to make an appointment and see your listing in person.
- Price – This is a very important component of selling a home. One of the worst things a seller can do is “test the waters” with an unrealistic price. Many times there will other properties on the market, your competition. Remember, your get that one first impression. Many buyers will write off the home because they view the price and you as unrealistic, which will deter most buyers from even looking at the property. After a listing has been on the market for a while, buyers then assume there is something wrong with the home and lose interest, which is one of the biggest reasons property listings expire. Nobody wants to overpay for a home, period.
- Poor Exposure – The marketing of your listing is another crucial step. Homes don’t sell themselves. Buyers and other agents need to know about your listing. Listing on the MLS is just one step. Social media marketing to a larger audience gets you more exposure and a better chance for potential buyers to see your listing. This in addition to making showings easy by using a lockbox and holding grand open houses. These methods should all be used to get your home the maximum exposure and get it sold.
- Wrong Agent – Who you choose to work with is yet another very important decision. Not all agents are alike. Hiring a Realtor® who really knows the market, takes the time to get to know you and what you are really wanting is the first important choice you will make. The Realtor® needs to be extremely active with the listing, the marketing and getting your home seen by as many potential buyers as possible. You don’t want an agent who is simply waiting for offers to land in their inbox. That is being of no service to you.
When you read through these few steps, they truly make sense. There is not one reason a property or home shouldn’t sell, ever. Using these parameters along with choosing the right Realtor® who you trust and will work hard for you will guarantee success in the next steps of your journey!