4 Reasons Why Your Home Didn’t Sell the First Time
Was your house on the market and you had to take it off because it didn’t sell? We’re sure you’ve heard the terms “seller’s market” or “buyer’s market” and either of those could have something to do with why your home didn’t sell. However, there are many other potential reasons your house didn’t sell: here are the top four.
Staging
Home staging is preparing your home and property for sale. The goal is to make your home more appealing to potential buyers by minimizing your personal items and allowing the buyers to imagine their own family living there. This most often results in a quicker sale, at a higher price. According to the 2015 National Association of Realtors Staging Statistics, over 81% of buyers find it “easier to visualize the property as their future home” when it is staged.
Pricing
The price of your home should be in line with the market at the time you list it for sale. It’s important not to overprice and lose appeal within the first few weeks. In contrast, don’t be too afraid to price your house slightly lower, as it could result in multiple offers which drives the selling price up and in your favor. The trick is to find the “right” price that is in line with what other, similar homes, are selling for while accurately reflecting the true value of your home. A real estate agent will help you look at the market and price your house correctly.
Timing
Your home should be put on the market during the right season and in line with the supply and demand. Depending on your location, winter weather can be messy and unappealing for potential buyers to be out and about. However, it is often the best time to list your house for sale if the inventory of available houses is very low. Having your home on the market before the height of moving season is imperative so you don’t miss those looking early. In short, timing is everything. Talk to your agent today and figure out when the time is right for you.
Advertising
If your home isn’t visible to all potential buyers and they aren’t given an opportunity to see it, you are missing the boat. Maximum advertising exposure should include everything from printed materials to numerous online listings from social media to real estate websites. You must reach potential buyers where they shop! At the HodosGroup of Long and Foster, we utilize sites such as Homesnap, Facebook, Twitter, Instagram, Zillow and Trulia, to name a few. Additionally, we use printed advertising, mailings and the Multiple List System. The bottom line is this: For your home to sell, the buyers must know it’s for sale!
When placing your home on the market, especially for a second time, it is imperative that these criteria be looked over in detail. If your agent isn’t addressing them, then perhaps he or she is not working the sale of your home to its fullest potential.
Now is the time to maximize your efforts and ensure that your home is under contract fast!
Tags: Advertising, HodosGroup of Long and Foster, Pricing, Staging, Timing Posted in Buyers, Sellers