1. Poor Marketing. With the large inventory of homes for sale in the MLS, it is the agent who is responsible for getting your property shown to all potential buyers. You can tell how well your home is being marketed by how many showings you’ve had on your home. Fewer showings mean poor marketing. Few weeks ago, I had an Open House in Burlington and had 43 Buyers come in just 2 hours! If you had less than 40 showings, then marketing is one of the areas to focus on.
2. Poor Condition. Good condition doesn’t necessarily make your home worth more, but the lack of it can keep it from selling because fewer people are prone to fixing up a home today. On a scale from 1-10, how would you rate the condition of your house? Is there anything you can do to improve the rating by spending little or no money?
Curb appeal is the very first impression that a Buyer will have. Do the shrubs need trimming? Is the fence falling down and should be removed?
3. Poor Pricing Strategy. The mistake many sellers make is that they base their asking price on their wants and needs rather than on current market value. They set a higher price because they want to make enough money to pay some bills or buy another home. The price must be updated to take into consideration current market condition and what is important to you about selling your home now.
Especially if you already moved to another home. How much does it cost you every month to keep up with the property? If it takes you 9 months to sell your home, how much will you really make? It is hard to think and accept that your home may be worth less than what you think, but the key is to trust your local Realtor who knows the market and will help you sell the house.
I would love to know what you think about this blog. Feel free to email me your comments or questions at RealtorKustov@gmail.com.