1 price is too high, I'll repeat that..price is too high!
2. condition isn't great - needs to be decluttered or staged - painted, etc. - ie - it doesn't show well
3 location may be an issue (busy street, steep incline with the driveway, too close to commerical buildings, etc)
4 you aren't listed with an agent and getting the maximum exposure you need through the mls and other marketing options
5 home is difficut to show - agents can't readily get in
6 homes in your area aren't selling, either...maybe there's a large number of short sales or foreclosures in the area which may be turning off potential buyers
With little or no information to go on.......these are some of the possiblities.
With more information, maybe you will get more suggestions.
Prudential NJ Properties
What is your motivation for selling? Are you looking to buy another home? If so you most likely will make up the loss on your sale when buying another home. So if you have to sell below what you owe, don't look at it as a loss since you will make it up in your next purchase. If you are down sizing to an apartment or a smaller home, then you may have to bite the bullet accept a little loss to accomplish your goal. If you are not motivated to sell right now, take it off the market and wait a little while. Winter is the toughest climate to sell in.
2. Another reason your home may not be selling is inadequate marketing. There are several things to consider on this front. First and foremost are the photos you have in the Listing Service; assuming your property is listed in a Multiple Listing service! There are many times that agents will view a listing in the MLS where the photos do a horrible job of representing the space. If the photos don't impress the agent and potential buyer, then they will most likely not want to see the unit. Professional photos are around $100. Don't pay just any old photographer, make sure it is someone who has professional Real Estate Photographing experience. Knowing where to set the angles and which lens to use is paramount! If you have some do-it-yourself photos from your home camera this is detrimental to you! This will be the best $100 you've spent when it comes to marketing your home.
Other than photos, ask your agent what he is doing to market your home. Also when interviewing new agents, as you should absolutely do ask them what they will do to market your property. Some good answers besides putting it on the MLS would be: internet marketing, open houses, broker opens, fliers, etc.
3. Before you have any more showings or your professional photographs taken you need to consider the staging of your home! Better staging (presentation) can make a bad place look great and spacious and a nice place look horrible depending on how your furniture is placed in the house. To quote a wise old agent Â“the way we live in our house is not the way we sell our house. This place is no longer your home it is a commodity! You need to remove any bold paint colors that you may have. Put all of your personal stuff such as family photos etc in a box and get them out of there. The goal is to make your place look like something someone could see themselves in. That is harder to do if you have photos of your trip to Aspen on the wall etc. Take a hard look at your furniture in the house now remove at least one third of it; seriously. Get it out of there! Nothing makes a space look cramped like too much furniture. Add light sources such as lamps to every room and make sure they're all on when you do a showing. This goes without saying, but KEEP YOUR PLACE CLEAN! No clutter, no open toilet seats, no spots on the mirror. Throw some fresh cut flowers on the dining room table (make sure they match the color scheme of their surroundings). If you need to fix something, get it fixed, no one wants to hear oh that'll be cheap to repairÂ… People want a unit that is move-in condition, not something that they will have to put time and money into once they move in. Make sure your agent is pitching the neighborhood amenities along with your home, schools etc. Good luck!
Think outside the Box!
How long has it been on the market?
Ask your Realtor how many homes, like yours, since your home hit the market, have:
lowered their price
come on to the market
This will tell you the truth.
Symptoms of problems:
No showings - lower the price
Showings but no offers - lower the price
Showings but LOW offers - lower the price.
The longer a listing sits on the market, the greater the gap between list price and sale price.
Better to be priced low and get multiple offer, than be overpriced and receive none.
Where is your home located?
What is economy like in your area?
Does it back up to busy street
Are you a FSBO or listing agent represent you?
What does your listing agent state for DOM ?
Are you in a family community where homes are on the market from approx. April - August
What is value of home? Higher priced homes take longer to sale?
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
No buyers or no funds available for the buyers.
To sell a home it must be priced to show value. That is the first step in drawing the attention of a buyer. Then when the buyer comes to see the property is has to look good and not be a problem to see. If all of that is done and the buyer is still intereested it becomes the task of the agent to draw out an offer and negotiate terms and conditions that are acceptable to both principals.
When did you list your home? Selling real estate in upstate New York during the heart of the winter months is an "up hill battle." It's long been known that this is commonly the slow season.
This does not mean it is impossible to sell during this period....only more difficult.
It's important to understant the mentality of today's buyers. To the person....buyers today are seeking value and are being supported by good information available on the internet.
Your task is being made more difficult be the current state of the economy and as well as the large numbers of short sales and foreclosures....a sector of the market that is most appealing to many of today''s buyers.
If you can make your property stand out among the rest and be percieved as a value that can be competitive with short sales and foreclosures you will stand a chance in today's market. Ask your agent to review your property's price relative to other similar propertys that represent your competition. This may help to point you in the right direction.
The Eckler Team
Ask yourself these questions and then adjust your strategy and marketing accordingly. Make your house better than the competition so that it becomes more attractive to buyers.
Funny thing, but home selling is a bit like open seating in an auditorium. If people have had to wait in line to get in, they scramble early for seats, throw down coats to reserve seats for friends that may not even show, and they won't leave once they've settled.
However, if the place is pretty empty, nobody bothers to reserve a seat, sometimes people will just sort of stand along the walls, plenty of seats to go around, nobody seems to care whether they sit or not.
Americorp Real Estate
Brokers Associate, e-PRO
Are there photos of the inside and outside listed on the internet? No photos, less like of being shown.
Is it being shown?
What have been the comments?
Do you make it easy to show?
Is your home always in showing condition?
Does your home boarder something unsightly?
May reasons ---
Usually a house that doesn't sell isn't priced correctly. Sad but true. If you don't get a full price offer within 30 days you probably will not receive a full price offer.
Have your agent take you on a tour of the homes that are similar to yours in condition, then also a tour of the homes priced like yours. You should be able to see the difference and come to a conclusion.
If you say that they are all priced the same for the condition, then you have location or other factors and need to adjust price to compensate.
What was the explanation and suggestions of your realtor when you sat down and had this discussion?