Home Selling in 46628>Question Details

Lou Ellen Ri…, Home Buyer in Elkhart, IN

How can we sell our home? Was up for 9 months with no response.

Asked by Lou Ellen Ridenour, Elkhart, IN Thu Apr 19, 2012

Our home is in very good condition with many newer features and completely paid for. We have a pleasant neighborhood with a new rebuilding program going on with retail and recreational additions.

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8
I can tell you that whether or not a home sells in today's housing market depends on three factors: presentation, price, and promotion. Let's call them the three Ps. In a less competitive market, you may be able to get away with neglecting one or even two of these areas, but current real estate conditions are unforgiving. To produce a qualified offer on your home, your agent will need to employ an integrated strategy encompassing all three of these components.

Presentation: Most buyers know if they'll be interested in a home within the first five to ten seconds of walking through the door, so making a great first impression is critical. Ask your agent what buyers are looking for, and and have him help you stage your property to make it as appealing to prospective buyers as possible.

Price: Pricing a home correctly is part science and part art. It's also a crucial component of your sales strategy, since your home won't attract buyers if it's priced too high. Have your agent provide you with an expert assessment of your home's market value, but of course the pricing decision is ultimately yours to make.

Promotion: Your agent will need to craft a cutting-edge marketing plan designed specifically for your home. Premier placement on real estate web sites, online and print advertising, toll-free numbers and text messages, email campaigns, direct mail, brochures, flyers, postcards, open houses, and virtual tours are just a few of the strategies that can be utilized to promote your property.
0 votes Thank Flag Link Sat Apr 21, 2012
Lou Ellen,

There could be many reasons why it didnt sell but marketing, price, location and condition are the usual reasons. You need to have up to date information as to the current market activity in your area. I will be glad to speak to you further if you like. If you are still working with the agent you had, you need to have a face to face meeting to discuss your next moves.

If you would like any additional assistance, I would be glad to talk to you!
Good luck!
0 votes Thank Flag Link Thu Apr 19, 2012
A realistic response to your question would be to look at your house, its listed price, and understand what it does not have or does not offer in comparison to other comparable homes on the open market that are currently pending or have recently sold. It may be counter-productive to hone in on what you think are features of the home without first looking at credible and unswerving market data.

A professional and competent agent will be able to tell you within minutes why your home is just sitting on the market for months on end. If you have not received a credible answer from your agent in 9 months, it is absolutely time to re-think your situation and possibly your agent as well. Good luck to you?
0 votes Thank Flag Link Thu Apr 19, 2012
Price it right and it will sell....
0 votes Thank Flag Link Thu Apr 19, 2012
In todays market a home must be at its absolute best to compete for buyers. That means pricing, condition, terms being offered, and several other factors that can set your house above the crowd. Take a moment and read one of my recent blog posts. I think you'll find it informative.
0 votes Thank Flag Link Thu Apr 19, 2012
Do you have a recent comparative market analysis for your home? Likely, your home's listing price was out of sync with the current market conditions in your area. Many real estate agents in your area (including myself) provide a market analysis free of charge. I suggest talking to your agent about your concerns.
0 votes Thank Flag Link Thu Apr 19, 2012
Your price was too high.

Have a Realtor do a CMA on your property to determine what it's worth in today's market.

Hope that helps.
0 votes Thank Flag Link Thu Apr 19, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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If your home didn't sell for 9 months then most likely the problem was the asking price.I would talk to your real estate agent and ask him why they think it didn't sell because they should have a pretty good idea. Have them check to see what similar homes are selling for in your neighborhood to see if maybe your asking price is to high.
0 votes Thank Flag Link Thu Apr 19, 2012
We went through that with our agent and he was surprised it didn't sell. However, I don't think he worked very hard at it. We lowered the price several times.
Flag Thu Apr 19, 2012
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