According to your column and everything I read, it’s a seller’s market. Homes are selling quickly, many for more than the asking price. BUT MY HOME IS NOT SELLING! My agent set the price, and my home is freshly painted. Two weeks ago we reduced the price 5% – again per my agent’s recommendation. We had a flurry of showings after the price drop, but no decent offers. Why isn’t my home selling?
Dear Unhappy Seller,
The first thing you should do is check your home’s online presence. Your first showings are online. What do you see when you type the address in Google?
Are the photos of your home attractive? Is the marketing description compelling? Could anything be improved? Your real estate agent’s job is to ensure your online presentation entices home buyers and other Realtors® to view your home in person. The photos and marketing remarks which are input into the MLS are then syndicated on real estate websites such as Reatlor.com, Trulia and numerous individual real estate agent and brokerage websites.
Take a walk to the curb and look at your home. What do you see? Don’t neglect curb appeal – get your front yard in shape. I don’t know why, that after a while most gardeners slack off. It’s not just a matter of planting some flowers, your trees and shrubs should be neatly trimmed.
A little prep work goes a long way. Many people believe staging is simply rearranging the furniture or replacing bedspreads and towels. But there is much more to it and that’s why home builders spend tens of thousands of dollars staging their model homes. Decluttering, a thorough cleaning, including having your windows professionally washed are typically just starting points.
It’s unfortunate that you and your Realtor® failed to establish the correct listing price from the beginning. In today’s competitive real estate market it is wise to price your home at a number which will bid the price up, not down. When a home is listed for sale it’s an offering and a home seller is not obligated to accept any offer. I personally don’t believe in “event” pricing as I don’t think it’s “nice” to have dozens of disappointed buyers. But in order to represent my client when listing a home for sale, sadly there should be a couple of disappointed buyers… that’s how a home seller gets top dollar in this competitive market.
Your Realtor’s® job is to sell your home. It’s time for you to have a frank conversation with your agent.