4 Simple Reasons Your Home Isn't Selling
1. NOT ENOUGH MARKETING
Gone are the days when an agent could simply put a sign in you front yard, place your listing on the internet, do one or two open houses and wait for a buyer.
Today's top performers launch an aggressive marketing plan that includes listing open houses for other real estate agents, newspaper ads, weekend open houses, listing flyers and placements in multiple websites.
Computers and the Internet also have changed the face of real estate. According to the National Association of Realtors, today more than one-third of all home buyers use the Internet for house hunting. The best real estate agents are computer-savvy. They have your listing in color on their laptops to show clients and communicate frequently via e-mail, a particular boon when working with out-of-town buyers.
2. BAD AGENT
Yep, they exist: Real estate agents who mislead, misfire and misbehave.
Their bad advice can cost you plenty of time and money.
Some real estate agents will allow you to overprice your home ("Here's what I can get for you, if you list with me!"), not market it properly, fail to screen for qualified buyers, be unresponsive to interest from other agents (if they sell their own listing they don't have to split the commission)and keep you totally in the dark throughout the process.
What's more, if your agent is rude, arrogant or otherwise difficult to work with, other agents may not want the hassle of showing any of their listings to prospective buyers.
Just because an agent is a top producer in your area does not guarantee that he/she has the respect of other agents in town.
3. NOT PRICED CORRECTLY
If your home is priced too high (even if you manage to find a buyer willing to pay your asking price) the bank may not appraise the property at that figure and the financing will fall apart.
You want to compete with what is available out there among homes similar to yours.
If your home remains on the market for too long, agents and buyers may begin to wonder if there are perhaps more serious reasons why it isn't selling and many times agents will stop showing it.
In setting a price, some sellers think $299,000, for example, will attract more attention because it is less than $300,000. Ditch the retail mentality. That is not how it works.
4. HOME'S CONDITION
Even the best old house needs a little makeover if it hopes to attract a qualified buyer.
The good news is most of the work will be cosmetic and relatively inexpensive: a new coat of paint, a few attractive window boxes, a thorough cleaning of floors and carpets. Voila! The place may look good enough to reconsider.
You might also want to remove things that are really taste specific or personal, such as family photos and little nick-nacks.
A good real estate agent can advise you on where your time and money are best spent.
And remember that potential buyers will keep on driving if poor curb appeal suggests the house may be in bad shape too. You want to make a good first impression.
Gone are the days when an agent could simply put a sign in you front yard, place your listing on the internet, do one or two open houses and wait for a buyer.
Today's top performers launch an aggressive marketing plan that includes listing open houses for other real estate agents, newspaper ads, weekend open houses, listing flyers and placements in multiple websites.
Computers and the Internet also have changed the face of real estate. According to the National Association of Realtors, today more than one-third of all home buyers use the Internet for house hunting. The best real estate agents are computer-savvy. They have your listing in color on their laptops to show clients and communicate frequently via e-mail, a particular boon when working with out-of-town buyers.
2. BAD AGENT
Yep, they exist: Real estate agents who mislead, misfire and misbehave.
Their bad advice can cost you plenty of time and money.
Some real estate agents will allow you to overprice your home ("Here's what I can get for you, if you list with me!"), not market it properly, fail to screen for qualified buyers, be unresponsive to interest from other agents (if they sell their own listing they don't have to split the commission)and keep you totally in the dark throughout the process.
What's more, if your agent is rude, arrogant or otherwise difficult to work with, other agents may not want the hassle of showing any of their listings to prospective buyers.
Just because an agent is a top producer in your area does not guarantee that he/she has the respect of other agents in town.
3. NOT PRICED CORRECTLY
If your home is priced too high (even if you manage to find a buyer willing to pay your asking price) the bank may not appraise the property at that figure and the financing will fall apart.
You want to compete with what is available out there among homes similar to yours.
If your home remains on the market for too long, agents and buyers may begin to wonder if there are perhaps more serious reasons why it isn't selling and many times agents will stop showing it.
In setting a price, some sellers think $299,000, for example, will attract more attention because it is less than $300,000. Ditch the retail mentality. That is not how it works.
4. HOME'S CONDITION
Even the best old house needs a little makeover if it hopes to attract a qualified buyer.
The good news is most of the work will be cosmetic and relatively inexpensive: a new coat of paint, a few attractive window boxes, a thorough cleaning of floors and carpets. Voila! The place may look good enough to reconsider.
You might also want to remove things that are really taste specific or personal, such as family photos and little nick-nacks.
A good real estate agent can advise you on where your time and money are best spent.
And remember that potential buyers will keep on driving if poor curb appeal suggests the house may be in bad shape too. You want to make a good first impression.
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