7 Reasons A Home Didn't Sell
Your home didn't sell? This will help.
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1. Price & Value
If your home didn't sell the first thing you'll hear from agents is "it was listed too high". And this may be the case, however, I find the majority of the time it was a marketing problem.
Selling a home is all about the perceived value by the buyer. Do they see more value and benefits with your home than any other in this price range?
If we can highlight the value of your home, while the home is presented to other agents and potential buyers, then we boost the demand for the home and, ultimately, maximize your sale price. This is a very important point.
Justifying the price is often needed. Your agent should be in your corner, believe in your listing price, and be able to clearly show the value the buyer is getting with your home. If this is presented correctly, the home will sell.
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2. Marketing and Online Presence
How your home shows online is critical, just about every buyer starts their search online. If the property was not displayed online in the best way, then you're losing buyer interest and demand for the property.
Was there professional photography? Was there a professional video? Did you know that 89% of buyers love and view the video and only 5% of agent offer video?
Since your home didn't sell, it makes sense to review the online profile of the home and try to determine if anything was missed.
Did you have video email marketing? Did you have lifestyle marketing?
Did you have Ads online for your home?
If the answers to all the above questions are no or not sure, chances are you did not. Marketing is the key to a property selling.
This is where I excel. I'm an expert marketer. I don't stop marketing until there is a SOLD sign. I would love to sit down with you and explain what I think needs to be done to improve the way your home shows online.
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3. First Impression
While the first impression often comes with an online viewing it may also come with an open house or showing.
The questions to answer are:
1. What does the buyer see when they drive up and approach your house?
2. While they walk up to your front door... what are they seeing and feeling?
3. What kind of reaction are the buyers having when they enter the door? What they see in the first 10-20 seconds can quickly eliminate the potential buyer.
All 3 of these points are VERY important. From the drive up, walk to the front door, and into the house. At each point, homes are being evaluated by the buyers and agents.
Since your home did not sell, you have to ask: Is there anything that we can do to make the home more appealing?
A fresh evaluation of your home presentation may be what is needed.
Get "new set of eyes" on it to determine what steps to take to improve the first impression. A few simple steps to improve the impression in these 3 stages can often make the difference between an offer and the buyer moving on to another property.
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4. Boost The Value
Once you understand how your home will be viewed by the market you may be able to take steps to improve the perceived value of your home. Start by asking yourself and (an experienced agent) Me!
Was there anything that impacted buyers negatively?
Are there simple upgrades to do before listing your home for sale again?
Are there any "must do" repairs?
Which repairs/upgrades will bring the best return & boost your sale price?
Most sellers have restrictions on time & budget when getting a home ready for sale. We understand this and can help you choose the best approach.
We will work with you to stretch both your time and money in the best way possible to improve the appeal of your home for buyers.
We can not only help you get your list of repairs/upgrades together but we can also offer resources to get it done fast and for the lowest cost.
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5. Home Presentation
When selling your home these 3 questions must be addressed properly.
1. How will my home show online?
2. How will my home show in person?
3. What will the buyer think?
Did you know that buyer perception is a very clean home is well maintained? Do you need to de-clutter? Do you need de-personalize? Do you know that clean, de-cluttered and de-personalized homes receive the highest sales price?
Unfortunately, buyers cannot see past these problems and will not make an offer on the home.
If this isn't handled properly, potential buyers are lost. This is one area where I can definitely help you.
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6. Agent Networking
Actively contacting local agents about your property makes a difference especially when you list the property a second time.
When we relist the property, we will work our network of agents and explain why they need to take a look and bring their buyers to your property.
Just listing it again on the MLS is not enough. Working with successful buyer agents and expressing the value your property offers for their buyers is a must.
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7. Market & Value Review
When a home doesn't sell, the homeowner needs to take a seriously look at all of the recent sales in the area and reevaluate where and how your property measures up.
For example...
What were the comparable sales prices?
Why did these homes sell & not yours?
Are there any recent changes in the local market since you listed the property?
What are the numbers like in terms of current listings on the market and upcoming listings?
All of this must be reviewed and understood to see what was missed with the listing of your home and how to move forward to a successful sale.
