1. Price: It’s understandable that you want to make as much profit on your house as possible. However, if your listing is overpriced it can hurt you more than help you. You don’t want buyers to immediately ignore your property because of a high dollar amount. If the price listed is too high, they won’t come to check it out, even if it’s worth it. A high listing price can also put your house in competition with the wrong market. You want to compete with homes similar to yours. You don’t want your home to compete with other homes that offer more value for the money spent.
2. Condition: You need to be acutely aware of the condition of your home before you list it. You want to show off your home in its best light. It is worth it to invest a little bit of time, money and energy so your house can look its best. You want to make a lasting impression with potential buyers.
3. Marketing: If you don’t market your house properly, you’re not going to get top dollar for it. In worst case scenarios, without good marketing, your house might not sell at all. Professional photography, a strong proactive approach, online syndication of your listing; calling around the neighborhood – these are just some of the marketing techniques that are needed to attract buyers.
All three of these reasons make sense as to why a house wouldn’t sell. The first two are usually things that homeowners are already thinking about and preparing for. The third reason can get a little tricky, so let’s talk more about marketing. When you break it down to the basics, your home is a product that you’re selling. When you want to sell something, the way you are going to get it sold is by creating a demand for it.
If you take a drive through your neighborhood right now, you might notice something peculiar about the housing market. Some of the houses sell like hotcakes while others can sit on the market for months. Why is this? It’s simple, the houses that usually sell faster have a specific marketing plan that makes that house an in-demand commodity.
If you have a real estate agent, their primary goal should be to create a lot of demand for your property. They do this to help generate offers and to be able to sell your house for the highest price possible. It’s important to create a specific marketing plan because of the variety of buyers there are out there. You don’t want your house to fall under the category of “one size fits all” because it is an ineffective strategy that depends on luck. You don’t have any idea whether or not an offer will come in. If you’re having a hard time selling your house, talk to your real estate agent and develop a detailed marketing plan. Think about the pros and cons of your property and community. Try to imagine what type of buyer your home would most likely appeal to. Once you narrow down your target audience, you can alter your marketing plan towards that group and hopefully be receiving offers on your house soon!