Why Didn't My House Sell?
When you list a lot of homes I like do you hear the same thing from sellers - and I hear these even more when the house hasn't sold with their first agent and then they call me in to determine what went wrong. Here's a few of the things I hear:
- The agent didn't do enough marketing
- The agent never showed the house
- I don't want to give the house away
- The buyers could have made an offer
- The house looks good for its age
- I don't want to do any updates - they can buy it like it is
- The carpet is only 20 years old and we hardly ever walked in that room
- Our house is better than that one that sold
- I need more than that for this house because where we are moving is more expensive
The real truth is this: No amount of MARKETING can overcome an over
or poor condition. And if the house is over priced and not updated - well, that's a tough sell!!! The good news is that the right price can overcome poor condition. Combine the right price with strong marketing to make sure the world knows the house is for sell and you have a WINNER!!!! And a home in beautiful condition, priced right, and marketed properly will equate to a sell!!
It seems that many sellers don't want to take responsibility for why the house didn't sell. Yes, it could be the agent's fault. Perhaps they suggested an unrealistic price because they weren't experienced enough. Perhaps they didn't want to hurt the sellers feelings by being honest about how buyers would react to the condition. Perhaps the agent didn't have the confidence to feel strongly about the price they knew to be correct or didn't know how to present it to the seller in a way that would give the seller confidence that they knew what they were doing!
And the agent never showed the house? My job as a listing agent is to get the word out to everyone - agents and the public- in order to create a 'buzz' about the house. If I'm lucky we get to show the house but my responsibility is not whether we get to show it but to make sure our 3000 members of our board of REALTORS is aware of the house. Would be nice to create a bidding war!!!
So How Do You Make Sure Your House Sells?
First, be Committed to the process. I ask my sellers if they are prepared to do whatever it takes to get their house sold. In a hot market you don't have to do much of anything but in our market, the house has to be well priced and in about as perfect condition as possible with updates. If you can't get the condition correct, then the price will be greatly reduced in order to attract a buyer.
Second, ask your REALTOR to be honest with you and don't get offended if they mention the color of your walls, the wallpaper, the ancient carpet, etc. See what they think it will take to sell the house and go for it!
Third, don't select an agent based on the price they give you to list the house. Remember, the buyer, the buyers agent, the appraiser and the underwriter have to all be on board with the price or the house will not be shown, the loan will not be approved.
What a free market analysis of your home? Just give us a call at 225-298-6900 and schedule a meeting. AND I'll bring you a free copy of our new book - Consider It Sold!