Why Your House Didn’t Sell
If your house didn’t sell before your listing expired, you may be feeling a little discouraged.
With all the housing market news indicating that inventory is low, you might have expected your home to sell quickly and for a high price. If you’re interested in relisting your home on the Multiple Listing Service and you want a better outcome for the next time, here are some questions to consider.
Did You Limit Access to Your House?
One of the biggest mistakes you can make when selling a house is restricting the days and times when potential buyers can tour it. Being as flexible as possible is important because it maximizes your buyer pool. It may be stressful to drop everything and leave when buyers are interested, but as ShowingTime advises:
“… do your best to be as flexible as possible when granting access to your house for showings.”[1]
Sometimes, the most determined buyers might come from farther away. Since they’re traveling to see the house, they may not be able to change their plans easily. Try and be as accommodating as possible.
Talk to your Realtor about creating a Virtual Tour, or short video walkthrough, of the home. This is a great tool for selling and helps potential buyers decide whether they may be interested in scheduling a showing. A Virtual Tour enables you to have more rigid showing availability.
Did You Make Your House Stand Out?
You never get a second chance to make a first impression. Putting in the work to make the exterior of your home look nice is just as important as how you stage it inside. Freshen up your landscaping to improve your home’s curb appeal so you can really make an impact immediately. As U.S. News reported in an article about selling a home while still living in it:
“After all, if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.”[2]
And don’t let the impact stop at the entryway. Remove personal items and reduce clutter inside, to give buyers more freedom to picture themselves making the home their own. New window treatments, a fresh coat of paint, or a professional floor cleaning can also go a long way.
Read our recommendations for steps to take before listing your home on OneKey MLS.
Did You Price Your House Compellingly?
Setting the right price is extremely important when selling your house. Even though it might feel tempting to push the price higher to maximize your profit, overpricing can scare away buyers and make it hard to sell quickly.
Business Insider notes:
“… the biggest mistake sellers make is overpricing their home.”
If your house is priced higher than similar homes on the market, buyers could lose interest. Pay attention to the feedback people give your agent during open houses and showings. If lots of people are saying the same thing, it might be a good idea to think about lowering the price.
Did You Trust the Advice of an Expert?
A REALTOR® should be your trusted advisor throughout your home selling journey. Their insights are extremely valuable when (re)listing your home to sell. They’ll guide you as you prepare to list the home, from overseeing what repairs to prioritize, to valuing the property, and assisting with the showing process. Then, when you receive offers, they’ll be your expert negotiator and contract manager, making sure you get the best deal possible.
How DO real estate professionals decide on a home’s valuation?
Are You Ready to Make a Deal?
The decision to sell your home is a big one with potentially far-reaching consequences. If you’ve lived in the home for more than a year, you likely have memories tied up within its walls. It’s the place you know inside and out, literally. Sometimes, this emotional attachment clouds our ability to recognize a good deal when it’s offered. And sometimes, despite wanting to sell, the question of where to live next is more potent when a good offer comes along.
This is another reason to rely on the assistance of a real estate professional. They think like a salesperson and advocate for your best interests. They’ll know a good offer when its made, and they’ll help you decide between offers or negotiate for better terms.
If you previously listed your house, and it didn’t sell, ask yourself these questions before reaching out to a local real estate expert for assistance.
- Did you limit access to your house?
- Did you make your house stand out?
- Did you price your house compellingly?
- Did you trust the advice of an expert?
- Are you ready to make a deal?
Related Article: Low Housing Inventory is a Sweet Spot for Sellers
Adapted from Keeping Current Matters.
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