Reason #1: Bad Timing
If your home didn’t sell after several months on the market, timing could’ve been a factor. Markets are driven by the law of supply and demand, and real estate is no exception.
When demand outpaces supply, it’s considered a seller’s market and homes get snapped up quickly. In a buyer’s market, however, there are more homes for sale than active buyers. This can cause homes to sell for less money and to sit on the market for a longer period of time before receiving an offer.
Now What?
In most cases, buyers can be motivated to act with a combination of improvements, incentives, and pricing. If you suspect timing played a role in your inability to sell, consult with a knowledgeable real estate agent. We can estimate how long a home like yours should take to sell given current market conditions.
Reason #2: Ineffective Marketing
Did your home get a steady stream of showings when it was on the market? If not, you may need to try a new promotional strategy.
Take a look at your listing description and photos. A clear description and high-quality photos are crucial. Many buyers use these to decide whether or not to visit your home. Another factor to consider is whether your listing reached the right audience. Some properties require a more robust marketing approach to be found by the most interested buyers.
Now What?
If you suspect ineffective marketing, consider turning to a skilled professional with a proven approach. We employ the latest technologies to seed the marketplace, optimize for search engine placement, and position your home for the best possible impression right out of the gate.
Want to learn more? View our complete Property Marketing Plan.
Reason #3: Poor Impression
If your property received a lot of foot traffic but no offers, you may need to examine the impression you made on buyers who visited your property.
Start with your home’s structure and systems. Are there any “red flags” that could’ve scared away buyers, such as large cracks in the foundation or water stains on the ceiling? What about neglected maintenance and repairs? Finally, was your home properly prepped to maximize its appeal? A clean and decluttered space helps buyers more easily picture themselves living in your home.
Now What?
When we take on a new listing, we always walk through it with the homeowner and point out any steps that should be taken to boost its sales potential. In some cases, we will recommend that you utilize staging techniques that are shown to help homes sell faster and for more money. We can help you determine the appropriate budget and effort required to get your home sold.
Reason #4: Price Is Too High
It’s possible your home’s original asking price was set using sales data from before a market shift. But regardless of the economic climate, pricing a home is always tricky because so many factors can impact how much buyers are willing to pay.
Many homeowners are reluctant to drop their listing price. But the reality is, buyers may not seriously consider your property if they think your home is overpriced. If your home sat on the market for months without an offer, then chances are good that your asking price needs to be reevaluated.
Now What?
If you aren’t in a rush to sell, adjustments to timing or marketing may bring in a new pool of potential buyers. And repairs, upgrades, and staging can increase the perceived value of your home, which may be enough to bring a buyer to the table at your original list price.
However, if you need to sell quickly, or you’ve already exhausted those options, a price reduction may be necessary to get your home the attention it needs. We can help you determine a realistic asking price given today’s market conditions.
Reason #5: You Hired the Wrong Agent (Or No Agent At All)
If you suspect that your previous real estate agent didn’t do enough—or used the wrong approach—to sell your home, you’re not alone. Many sellers whose listings languish until they expire or are withdrawn feel this way.
Or, perhaps you chose not to hire a listing agent at all and have been trying to sell your home yourself. That can be an equally frustrating experience—and research shows it can actually cost you time and money in the long run.
Now What?
If either of those scenarios sounds familiar, we should talk. By now, you owe yourself more than the status quo when it comes to your real estate representation. Our multi-step Property Marketing Plan can help you sell your home for the most money possible, and in the process reconnect you with the excitement you originally felt upon first listing. It’s time for a new agent, new marketing, new buyers, and most of all… new possibilities.
Ready to Make a Move?
Deepak Chauhan
Deepak Chauhan is a committed full-time focused on Probate Real Estate. He is a Certified Probate Real Estate Specialist (CPRES) and a Certified Probate Specialist by the California Association of Realtors (C.A.R.). He represents Probate Sellers, and occasionally I help the Probate buyers. The conditions of some of these properties are challenging. He offers an endless number of resources to probate clients, service people, appraisers, auctioneers, contractors and handypersons, trash haulers to attorneys, C.P.A.s, and knowledge and experience to make your challenges less painful as possible.
Personal Representatives often are overwhelmed with the processes and protocols. He serves the clients with empathy, reverence, and respect. His clients feel they are valuable, and he is there to help and rescue them from frustrations and difficulties. Delays related to Covid-19 were brutal on the petitioners. Now things are getting better, and he has the tools and resources to help them, so they don't have to do multitasking.
He is a Graduate of Real Estate Institute (G.R.I.) from the National Association of Realtors. In addition to Master Certified Negotiations Expert designation, and he has multiple Probate Specialist Certifications from very experienced coaches. He is always grateful to his coaches and mentors. He has more than a dozen other Real Estate accreditations and Certifications by the National Association of Realtors. Besides, he holds a Mortgage Loan Originator License by the Nationwide Multistate Licensing System & Registry (NMLS) (aka Loan Officer) and Licensed by C.D.I. (Department of insurance) only to complement his clients’ needs with the best possible loan rates, costs, and services. His special credentials related to the real estate industry help provide better tools and oversight to protect his clients' interests. He can foresee how is clients, and lenders, and other vendors handle prospective buyers.
He is extremely focused on how he can save his clients money and time. He negotiates ahead of time with all service providers for their best prices, so there are no last-minute battles for his clients. He knows how many processes can run simultaneously, so the personal representative does not have to fall behind on their schedules. He has good relations with attorneys and CPAs; now and then, he can connect his clients with these high-ticket professionals if his clients want a first or second opinion on their issues. Understanding the needs of his clients is his second nature. He is always ready to find what is best for his clients.