Here's a list of important facts we gather from homes that did not sell. Houses do not sell for just 3 reasons:
WRONG PRICE + NO MARKETING + BAD PRESENTATION= NO SALE
"Do you think my Price was too high?" an out of reach price will kill the best marketing tactics all day long. SOLUTION HERE
"My agent did not do enough open houses" Houses that are sold during an open house is a very rare event indeed. The National Association of Realtors (NAR) recently said that only 11% of homes are sold during an open house. What are the chances, you wake up a Sunday morning and you are lured by an open house sign and later you're signed up to buy a house? Buyers plan months ahead before qualifying and getting ready to buy a home. During this time, they have touched at least a dozen Realtors that will be more than willing to show them any house in the market, every day of the week! Open houses attract other sellers and future (6 months) buyers for your agent. See the real truth about open houses...CLICK HERE
"My agent kept me in the dark, with no communication or feedback!"This is bad. I heard agents refusing to answer their phone, hiding form their selling clients, no where to be found. The only reason I see is that they did not have a clue why the listing was not selling. Feedback is important when you are selling anything. Adjusting the presentation of the product is priority #1 for a listing. On the contrary, when one of my listings is not selling, that's when I speak to my clients more often. Insist your agent plans this with to avoid this problem CLICK HERE
"I don't think my agent was doing enough advertising to sell my house"The most important component to advertising a home for sale is really the asking price! If you are "NOT" within the market suggested price range, bikini girls dancing in your front yard will not sell your house. In reality, our Multiple Listing Service (MLS) is the source where all the advertising is stimulated from. Any home listed in the MLS is syndicated across the web to literally thousands of websites, all done automatically. Is in this "extra" advertisement what separates selling agents from listing agents with expired listings. You should watch this video and see these examples CLICK HERE
"I did not have any showings at all!"The easy answer here will be the price, but in some cases is NOT the price. The appeal of the house plays a major role whether your homes gets shown or not. The buyers may come, but they never get out of their car. You must identify the reason why your house was not shown..or suffer the same consequences the second time around. It's a symptom that is particular to your own house. A selling professional should easily identify the problem and, it must be dealt with. These are the hard questions you must ask yourself CLICK HERE
"My agent is giving me the cold shoulder, I can't get a hold of him"Good real estate agents talk about communication at the very first meeting with you and then again during the listing process as needed. I suspect that your agent is avoiding you because he/she has nothing to say. Every successful sale always starts with a first sit-down meeting where the seller and agent discuss the market realities and expectations. We implemented this for our listing clients to be in touch with them CLICK HERE
"Should I change Realtors?"The first thing you should do is address these concerns with your agent. There is a reason why you hired this person. I suggest for you to sit down and have a serious conversation with your agent to see if you can move forward together with another game plan and replace the one that is apparently not working. If you already tried that...then it is certainly fair for you to want to find another agent who may be a better fit. How important is the right agent? THI$ IMPORTANT CLICK HERE
"Should I just lower the price and hope it sells?"Before reducing the price of your home, there are several questions you must ask yourself. Price is NOT the only reason why a home sells. The condition of the house has a major significance, as the overall marketing strategy. Check out the competition with your agent. If 95% of the homes in your market are not selling, then your home needs to outshine to be in the top 5%. There is a formula we use that predicts the selling of a house under these variables. CLICK HERE for more details.
"My house is not selling, should I just put it for rent and try it later?"Make sure you have decided to rent the house because you want to be an investor, and not because you were unable to sell your house because of your agent's ineptitude. Make sure you have what it takes to be a landlord. These are 10 questions to ask BEFORE renting your home CLICK HERE
"Should I take it off the market for a little while? If you wait to sell your house based on the results you are getting now, is probably a bad decision.The same problems will resurface all over again...later. Solve those problems first, make sure your plans justify the wait and the possibility that you may increase the demand for your house. Remember, as market demand increases, so do your competition. Increasing the appeal of your house could be a great reason to take your property off the market for a little while and follow this list: CLICK HERE
"Should I drop my price and re-list it with my agent once again? Often the reason a home doesn't sell is that it wasn't properly positioned to attract to the maximum number of buyers. Your house needs to be in "POSITION TO SELL". So what is the solution? I understand your past agent may be a good agent, but should you consider allowing someone to give you a second opinion on the marketing of your home? What would your agent do different the second time around? The biggest mistake some sellers make is when they use these criteria to choose a listing agent CLICK HERE
"We had several showings, but not one offer. What are we doing wrong? There’s many reasons for this. One of them could be that you as a seller like to follow potential buyers around the house to tell them everything that’s great about your place. Don’t be a HOME SELLER KILLER! that’s what your agent is supposed to do for you. All communicationsshould be between your agent and the buyers. It can also be your price, then you are helping your competition sell their homes instead of selling yours. Is your house cluttered full of stuff, vacation pictures and mug collections? Is your house clean? How is your curb appeal? Is the Internet description of your house matching the actual condition of the house? Does your house SMELLS? Leave nothing to chance anymore...and prepareyour house to sell with this CLICK HERE
"Should I take it off the market, remodel my kitchen with granite counters and put it back for sale? "It depends, Your best bet is to figure out where you stand by taking stock of your home, what needs repairs, what's the current market, and nearby sales activity. The answers to this will give you a clearer answer if you should repair your house or not. Is all about the return on investment. (ROI) If you spend $5000 for a new kitchen, can you sell your house for $10,000 more? Are nearby sales supportive in raising your price $10,000 more? You need guidance and a complete assessment before you spend $20,000 to only sell it for $10,000 more. Most often, a complete clean-out and de-cluttering/staging are the most important elements in selling a home, followed by painting and this CLICK HERE
"Should we keep our higher price so we can have room to negotiate?"Buyers will be then...viewing and favoring your competition's homes by comparison alone. You are no match for more expensive homes. Buyers are normally searching for homes priced within their particular range of what they can afford. At a higher price, you may be missing those buyers..and attracting the 'wrong" buyers who can afford to pay a lot more and compare your house to to those listed "right" at a higher price. You want to compete with other homes on the right price bracket, the one where qualified buyers are searching and buying homes. Don't miss this huge mistake when pricing your property CLICK HERE
"I had it with Realtors, I'm selling it myself!" Before you make that decision, you should consider this: Some sellers are tempted to try a For Sale by Owner (FSBO) transaction after their agent failed to sell their homes. Don't underestimate the process of selling a home for top dollar by a professional with a plan. Your past agent was not a good representation of what Realtors do when selling homes. Doing it alone and you are risking leaving a lot of your equity money at the table. Statistics show that selling your home with the assistance of a professional real estate agent will bring you a higher profit, enough to cover the commission as well as put more money in your pocket. According to the National Association of Realtor’s Profile of Home Buyers and Sellers, the average FSBO sales price was $174,900, while the average price for a home represented by an agent was $215,000, a difference of $40,100. Are you really ready to do all this by yourself...while keepingyour full time job? CLICK HERE
"Should I worry about the Days On the Market (DOM) for my house?"Yes, you should. When buyers are deciding what offer to give you? .. the days on the market plays a huge role on that amount. Buyers are not just offering you an amount based on your homes true and fair market value, but buyers are also judging your level of desperation as of how bad you need to sell it... and the "DOM" is that level of desperation. The higher the "DOM" number, the smaller the offer. What if you have already accumulated more days on the market than your competition? Then your Realtor should help you this way CLICK HERE
"I want to hire another agent but, my sister in law is my agent ..and I really hate to fire her.I can fully understand this, after all, you want to hire someone that you can trust and a family member who is in the business the most trusted person you can find. However, you should always hire someone you can also fire if things don't go very well. How do your fire a family member then? You also need to take in consideration, that your equity is probably thousands of dollars and the level of expertise your agent has to sell your home for top dollar is directly proportional to how much you are getting at the closing table. Hiring a relative who does real estate part-time as a "favor" may be costing you several thousands of dollars at the end. The best way to keep peace and unity in your family circle is, to be honest with them, tell them you have a lot of respect for them, but you need to hire an experienced professional with proven results that can assure you the maximum payoff at the table. Someone that you can also fire if you see sub-par representation. You may also arrange for your agent to pay them a small referral fee to accept your decision and be okay. Regardless, a good agent is hard to find and you should follow this advice when hiring one CLICK HERE
"My house is beautiful and has many "extras" over all other houses in the neighborhood, why is not selling then?"Letting go of an emotional attachment to their homes is possibly one of the biggest reason why homes do not sell after price. Some of these "extras" may be important to you...but have you considered that the buyer may not really care for them? When selling a home, it is not what you see what matters, but what the buyers sees. Beauty lies in the eye of the beholder...in this case, is in the buyer's eyes, not yours...if you want to sell. Find how those "Extras" can be used to target market your home CLICK HERE
"Which home improvements pay-off? The first things you should consider is what needs to be fixed in your house? Buyers are looking for a house, not a project. If you're thinking about sinking some money into your home because it did not sell, you have to keep a few things in mind. What you'll get back on your investment always depends on the value of your house as related to the value of houses in your immediate neighborhood. If you are on the high side and plan to spend more money ....don't! . . Otherwise, you need to be aware of the quality of the project itself and what areas you should spend it on. In general, kitchens & baths will give you the best return on your money, then you should go outside and invest on curb appeal. Every house is different and this advice may or may not apply to you, to be sure CLICK HERE
"Which home improvements "DO NOT" pay-off? This is where a lot of sellers make mistakes. In the majority of cases, the worst home improvements for themoney are as follows:#1 Home offices, wall to ceilingshelving and built-in desks. #2 Garage improvements, sheetrock the walls, paint the floors. #3 A new roof when you don't need one yet. #4 Any tile flooring (outside the bathrooms) may have a negative impact on your house. #5 A pool . In general, you should make a decision with someone that has experience in selling houses in your neighborhood. They know what is selling and what is not. This changes from neighborhood to neighborhood, and the price range of the house. (If you have a $150,000 condo, don't spend $25,000 in a new kitchen with granite counters!) See more information about this CLICK HERE
QUICK FIXES. . .
You are selling it by price and not by monthly payment..
In some price points, specially for first time home buyers. It is better to advertise the monthly payment rather than the sales price of the house. Some buyers can not differentiate a price between $210,000 and $280,000. .but they can relate when they see an estimated monthly payment of $1300 per month!
You are selling a 6 bedroom home and no one is coming..
A small percentage of buyers only look for 6 bedroom homes.. the majority of buyers search between 3 and 4 bedrooms. They have no access to your 6 bedroom house for sale. Advertise your home as a 4 bedroom with 2 extra rooms. That way everyone gets to see your house and not just 6 bedroom home buyers.
You are rejecting low ball offers & feeling insulted. . .
Don't! ....They maybe the only possible buyers that took the time to put an offer together and rejecting them right away is a bad mistake. Remove the emotional aspect and be smart by using this trick to respond to low ball offers WATCH IT HERE
Your house smells & you are not aware of it . . .
Maybe your Realtor is too chicken to tell you directly. If your house smell you will not sell! plain and simple. Maybe your olfactory senses are used to the smell of your house and you are not aware. Here are some quick remedies...Get an honest Realtor first and then fix the smells using these remedies..WATCH IT HERE
A "BAD" neighbor is jeopardizing the sale of your house...
I've seen in some case devalue a property for as much as 10% because they decided for one reason or another to be difficult when you are selling your home. This could escalate quickly if you ignore the problem. This is one way to fix this WATCH IT HERE
Your ZILLOW ZESTIMATE is below your asking price and scaring buyers away....
Most often, when buyers Google your address, Zillow shows up first in Google. There is the asking price of your house and as you scroll down the ZESTIMATE of your house is displayed proudly by Zillow ..thousands of dollars below your asking price! . Buyers get confused as to why your asking price is much higher than it's ZESTIMATE ..and in this case, ZILLOW is not your friend. Here's proof that ZESTIMATES are not accurate WATCH IT HERE