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Why Didn't My House Sell????

Selling a house can be an emotional roller coaster. You are so excited and so full of hope when you list your house.  Each time a potential buyer looks at your house, your hope is renewed that "This could be the one!". Then when the buyer doesn't make an offer, you start to become disheartened and frustrated. If your listing does expire, you want to know why. Let me help explain the 3 most critical factors that will help you avoid becoming an "expired listing".

Price

The reality is as a seller you want the highest price for your home. After all, you have invested time and money into it and it's full of priceless memories. Unfortunately, sellers and agents do not set the price of homes. The prices are set based on what buyers are willing to pay. If you over price your home, buyers will not even look at it. If it sits on the market too long, it becomes stigmatized and potential buyers wonder what's wrong with it. You also want to avoid pricing your home too low so you don't lose money. So, how do you fix this problem? This is where you need a professional. Real estate agents use a technique called a Comparable Market Analysis (CMA) to compare the your home to similar ones that have recently sold in the same area. This process gives you the best idea of the selling price. However, not all CMAs are created the same. The agent must take into account the differences such as square footage, bedrooms, bathrooms,garages, location, condition and features. Appraisers use the same process in helping banks determine how much they will loan for a mortgage on the property. Keep in mind though, an agent's CMA is not the same as an appraisal. The CMA can only be used in determining the asking price for a property as agents typically are not appraisers.

Condition

We are currently in a market where buyers have a lot of choices. There are more houses available for sale then there are buyers. If your home needs improvements, then you should consider completing them before listing. However, before starting costly improvements, you should discuss them with a professional. We can help you determine if you might be able to recoup the cost or if it would make the difference in selling or not. Overall, your home should be neat and inviting. For example, the yard must be clean and appealing regardless of weather conditions. The inside shouldn't have any clutter when being shown to a prospective buyer. Toys, dishes, clothes, and such should be put away, and the house should be bright and inviting. A house that presents well, sells for the best price because it outshines the competition.

Marketing

How your home is marketed is very critical. If the buyers do not know about your home, you can't sell it. Our office believes in effective marketing in order to provide maximum exposure to potential buyers. We have a marketing campaign which consists of the right combination of print advertising, direct mail and the Internet which ensures your home receives maximum exposure, which in turn helps put more money in your pocket sooner.