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What Should I Do If My Home Isnt Selling?
Suppose you've been trying to sell your home for months. You haven't had even a nibble from a prospective buyer. What should you do? Call your agent to request a strategy meeting. Tell him or her to bring you information about current sales activity in your neighborhood, as well as any feedback from agents who have shown the property to prospective buyers. What are the current market conditions? Is your home the only one of its kind on the market that isn't selling, or is the market just very slow? How long is it taking similar properties to sell? Are you being impatient or does your marketing plan need to be modified? Find out how many listings similar to yours have sold since your home was listed for sale. What were the asking prices? How did the properties differ from yours in terms of condition and amenities? Why does your agent think competing listings sold and your home didn't? Ask your agent to give you a summary of the feedback from agents who showed your home to prospective buyers. What was the consensus about your list price? Were there any negative comments about the decor of your home? Did agents mention that your home was hard to show? Agents need to be able to show your home easily and on short notice. If you have set up a complicated showing procedure, modify this to make it easier for agents to show and sell your home. If other listings in your area have lock boxes, you should too. There may be something about your decor that buyers don't like. Strong colors and busy wall paper patterns can make a home difficult to sell. First-Time Tip: In most cases, homes don't sell because they are priced too high for the market. Sellers often wonder why buyers don't make offers on over-priced listings. Motivated buyers usually don't have time to waste, and a high price signals that the sellers may be unrealistic. In a buyer's market where there's plenty of inventory, buyers gravitate to the listings with the most competitive prices. If prices are flat or falling, buyers usually won't make offers on over-priced listings for fear they might overpay in a declining market. You and your agent should analyze your entire marketing program, including the list price, and set a new strategy. If your price is too high for the market, reduce the price enough to have an impact. Usually a price reduction equal to five or ten percent of the list price will be necessary to generate new enthusiasm for the property. So if your home is listed for $250,000, you should reduce it $12,500 to $25,000 in order to make a substantial impact. You may have to improve the condition of your property AND make a price reduction. If so, make cosmetic improvements before reducing the price. After the home is fixed up, reduce the price and ask your agent to hold another open house for the real estate agents, as well as another public open house. It's often difficult to get agents back to look at a home that has been on the market for awhile. A cosmetic face-lift combined with a substantial price reduction ought to generate new interest in your home. The Closing: Sometimes a home isn't selling because the agent isn't doing his or her job. A successful home sale requires teamwork between you and your agent. If at the end of the listing period you are not satisfied with the agent's services, change agents. For More Information on Selling your home quickly visithttp://www.webuyhouseshome.com Unlike other so called We Buy Houses websites, Rescue Real Estate gives you every available option for selling your home. Simply complete our short 1 page form, and get anonymous online access to our team of specially trained REALTORS®. Then, in as little as 48 hours, you will begin to receive offers to purchase your home from our nationwide network of real estate investors. Click Here to sell your home quickly and compare agents.
MORE RESOURCES: Mapped: Global Real Estate Bubble Risk in 2024 Visual Capitalist Listed real estate developers trim debt by 54% in Q1 FY25 against peak year FY19-end Hindustan Times Data centers are a hot real estate trend, but will Colorado miss out on big projects? The Denver Post Florida's real-estate market is on edge amid back-to-back hurricanes Business Insider Exclusive | Tom Cruise can rest easy after Florida penthouse survives Hurricane Milton unscathed New York Post Billy Joel Is Selling the Mansion He First Saw While Dredging Oysters The New York Times Mormon Church's Real Estate Arm Buys 46 Farms Across 8 States DTN The Progressive Farmer Welcome to Real Estate Friday! theberkshireedge.com Portsmouth condo sells for record $5.8 million. Seacoast real estate inventory rising. 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East Hampton Star Buzz on Business: New Verdi Production Announced; Big Real Estate Sale East Greenwich News Bachelor of Science in Real Estate Development (BRED) USC Sol Price School of Public Policy This 1940s house on the market in Vermont is a time capsule. Take a look Burlington Free Press What's the most expensive property sold in RI? Oct. 11 real estate transactions The Providence Journal Homeowner turned ‘disaster’ into a stunner. See revamped Sacramento midcentury ‘treehouse’ Sacramento Bee Real Estate Transfers: Oct. 10, 2024 Suffolk Times Quebec Real Estate Market: A Very Active Third Quarter Boosted by Lower Interest Rates and the Return of Buyer Confidence Yahoo Finance Sale closed in Brookline: $4.5 million for a duplex MassLive.com California Realtors Predicting a Rosier 2025 for Local Home Sales The World Property Journal Real estate agent weighs in on 46% property tax increase included in Innamorato’s budget proposal WPXI Pittsburgh News | As San Francisco sees modest job growth, the region's commercial real estate responds CoStar Group SmartCentres Real Estate Investment Trust to Release 2024 Third Quarter Results and Host Conference Call GlobeNewswire Opinion | A lost Trump interview comes back to life The Washington Post Buying A House In 2024: A Step-By-Step Guide Bankrate.com Dollinger Master of Real Estate Development (MRED) USC Sol Price School of Public Policy Mill Creek Once Again Named One of Pensions & Investments' Largest Real Estate Investment Managers Longview News-Journal Stan Lee’s Final Home in Hollywood Is for Sale, a Luxury Development in Austin Breaks Ground, and More Real Estate News Architectural Digest Commercial Real Estate: A Cause for Optimism Connect CRE |
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