What to do when your home just isn’t selling….
You made the decision to list your home, went through the process of getting your home ready, put it on the market and now it’s not selling….What do you do??
There’s 3 main reasons a house doesn’t sell…
1) The condition of the house
2) The marketing of the house
3) The price tag
Of course their could be another reason why your home isn’t selling but usually it will come back to one of these 3 main reasons.
Now that we’ve identified the issue let’s look at what you can do to turn things around.
When it comes to the condition of your home it’s best to look through an outsiders eyes – for example your real estate agent, who knows the market and can point out how you can maximize your selling potential. Basic steps that improve the condition of your home include decluttering, in-depth cleaning, removing any pet odour, depersonalizing, finishing off odd jobs you’ve been procrastinating on, a fresh coat of paint etc.
The next item to review is marketing. You’ll need to know your target buyer so you can determine the best marketing strategy to get your home in front of that buyer. With 90% of buyers searching online-having stellar photos and video is critical since they are the first impression buyers will get of your home and be the determining factor in them booking a viewing. You need your home to stand out amongst the competition and hiring a professional photographer to showcase your homes best assets is a small investment that can yield a big return. Exposure is key, you need to get the word out that your home is for sale, this includes print marketing, targeted online marketing, open houses, signage, etc.
Lastly is the asking price, if you’ve exhausted the first two options and still aren’t getting offers then most likely you’ve put the wrong price tag on your home. Take a step back, look objectively and reassess. A home is only worth what a buyer is willing to pay and a seller is willing to accept. You need to be competitive with the price you put on your home or buyers won’t even step through the door.
Perhaps listings just aren’t selling quickly in your current market, a healthy dose of patience and strong strategy are sometimes all you need to get the deal done! Other options could be to rent your home out or take down your listing and wait till the market changes. Hiring a good real estate agent you can trust to steer you through the ups and downs with knowledge and guidance is your best bet in coming out on top! Happy Selling!