Why Homes Do Not Sell
There are several reasons that a home does not sell and the listing expires. Any one of them or a combination of them may be the cause. Without laying blame on anyone, it is best to examine the most common reasons and adjust the ones that you can.
How many times have we heard "location, location, location." Well let´s face facts, you can´t just pick it up and move it. If your home is not in the most desirable school cluster or is not convenient to shopping or dining you may have a little larger hill to climb. The good news is you probably do not have a mountain to climb. With proper marketing and maximum exposure to agents and buyers your home should sell, it just may take a little longer than you may have hoped.
The one item that every homeowner who is selling can change is the "condition and appearance" of the home. As a seller you should attempt to view your home through the eyes of a prospective buyer. Make the home pleasing to the eyes. Some buyers can not look past clutter. If it appears that your things do not fit in a room, a prospective buyer will probably feel that their things will not fit either. Properly staging your home should help.
It is very important to make your home "accessible." If the listing has stated that there is no lockbox or by appointment only many agents will just show other properties. Yes there are agents who will take the path of least resistance. The best recommendation is to make the home as accessible to as many agents as possible.
In today´s real estate environment, technology plays an every increasing part of an effective marketing plan. Many different surveys have been conducted and it is estimated that over 80 percent of home buyers begin their home search on the internet. Every agent that you talk with will tell you that they have a website. Not every agent can tell you how prospects can find their site. Look for yourself. Perform a search on your favorite search engine for realtor or real estate in your city. For example if you live in Duluth, search for Duluth real estate or Duluth realtor. Examine the results. You will see the same results that potential buyers are seeing. Do yourself a favor and visit the sites that are listed. If you like the site, there is a good chance that a potential buyer will like it also and contact the agent.
The final item that we will examine is the "price". The reason that we will look at it last is because it should be the last adjustment to be made. Perhaps when you listed your home the agent was overly aggressive with the suggested list price or your expectations were to push the envelope a bit wider than was possible. In either instance a complete and thorough market analysis should clear up the guess work. You should also expect an updated market analysis every 30 days so that you can accurately evaluate your competition and developing trends in your area.
While I hope you have not experienced the disappointment of your listing expiring, I will be happy to meet with you to evaluate you situation and offer suggestions on how to best market and sell your home. Please feel free to contact me.
