Why isn’t my home selling?
Dear Phyllis,
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? Unhappy Seller
Dear Unhappy Seller,
When learning why your home isn’t selling, 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? What can 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 that are input into the MLS are then syndicated on real estate websites such as Realtor.com, Trulia, and numerous individual real estate agent and brokerage websites.
A little preparation makes a big difference. Many people think staging only involves rearranging furniture or swapping out bedspreads and towels. In reality, staging goes much further, which is why home builders spend tens of thousands of dollars staging model homes. When you prepare your home for sale, start by decluttering and cleaning thoroughly, and also hire a professional to wash the windows for the best results.
Unfortunately, you and your Realtor failed to establish the correct listing price from the beginning. In today’s competitive real estate market, price your home to attract multiple offers and drive the price up, not down. When you list a home for sale, you make an offer to the market, and you do not have to accept any offer.
I do not believe in “event” pricing because it can leave dozens of buyers disappointed. However, when I represent a seller, I recommend pricing strategically to create competition. In a strong market, a few disappointed buyers often signal that the seller has achieved top dollar.
Your Realtor’s job is to sell your home. It’s time for you to have a frank conversation with your agent.
