My Home is Listed….Why hasn’t it SOLD?

I get asked this question all the time even from people that are listed with someone else. In my market the Houston Area it is a complex question that takes much research to accurately answer. But here are some things to ask yourself if you too are pondering this question no matter what market you are in.

#1- Ok so you obviously have a REALTOR right? If you answer NO to this question, then that is your first problem. In a Buyers Market which 90% of the country is in right now, trying to save money and list your home alone is not only a risky proposition but likely one that will ensure your home doesn’t sell for as much as you should get for it.  If you have no one guiding you on where the MARKET shows your home should be listed, then you are likely OVER PRICED and all that money you think you are saving is going down the tubes because you are wasting good time by over listing your home. Buyers have many choices in today’s market and that means they can be picky not only with pricing but with what your home has to offer them. If it doesn’t fit the bill then they can move on to an unlimited number of homes to see until they find exactly what they want. A Realtor will work to make sure you are up to date on the market, your homes actual value and will be able to properly market you listing to buyers that are qualified to purchase your home.

#2 You think your home looks GREAT but you are getting negative feedback from showings….are you LISTENING?

This is a key problem and one that is easily solved. First, have your realtor set up a walk through detailing items that were sited in your showing reports from agents that have toured your home. Seriously consider if it is something that could easily be repaired and rectified and which items will likely make you the most money on your investment. Whether replacing the carpet for say $3000 will be able to bring a buyer at the price you want to sell your home and calculate the difference in leaving it as is… you will see it is worth replacing 9 times out of 10. Or even something as easy as hiring a professional stager…I offer this service to many of my high end clients and will consider it for some of my clients that are living in the home that is for sale. For under $300 (average) you will be SHOCKED and AMAZED at how good your home can look when it is staged using your items…that is right not replacing but likely packing up much of what you have in your home and preparing your home to be shown to buyers. This service is so important and a Professional Realtor will know when it is needed.

Is your home clean??? This one comes up a lot and is also very important to listen to, PLEASE make sure at the very least that you have all beds made, junk picked up and dishes out of the sink. Prepare your home for guest daily, bathrooms should be clean and most importantly the YARD needs to be show ready. Nothing screams distressed property like an unkempt yard full of weeds or burnt grass. Seriously, your REALTOR will be able to give you a list of things that you should do prior to listing.

#3 Photos…exactly what are they telling your Buyers?

So your home looked great the day photos were taken and those are the ones on MLS. Well have you glanced at them lately? If your agent took quick photos the day you signed the listing agreement and the quality looks poor…well BINGO if they look poor to you why on EARTH would you think a BUYER would think otherwise. I offer my client professional photography and Virtual Tours with every listing. This service is instrumental in selling my listings. First impressions are lasting impressions and likely the first thing your buyers are gonna see are the photos on MLS. So make sure they look good and show your home in its best light possible.

#4 Your REALTOR

I will say it again…work with your REALTOR…let them know when you are concerned. They can pull up stats that will show you what the market is doing on a given day and time and give you valuable information that will show you items like: Current homes on the Market, Homes that have sold within the last 30 days, Open House stats. The list is endless all of this info can guide you in what to do next. Your Realtor and you are A TEAM. They need you telling your friends and neighbors and acquaintances that your home is for sale and pass out your Realtors cards so they can give the info to people they may know that are looking for a home.   Your Realtor should be marketing your home online and in print, sending out info to agents in the area where your home is etc. This will help to get attention to your home in a market that is overloaded with great deals and MANY homes. Lastly please communicate with your agent so they can assist you. They will not know you are concerned unless you talk to them and I can promise you they want to sell your home as fast as you do and for as much as they can get for you!

Finally, be patient: this market is fickle and when your home is HOT and your getting massive showings you should have an offer…if you don’t that is a warning sign that your price is too high or something needs to be upgraded in your home to make it show better. I run market analysis monthly for my listings right now because the market is changing so much. This helps my clients understand why their home may not be showing as much as they would like, and we work together to come up with a plan to make the home more attractive in to the current buyers.