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Why Didn't My House Sell?
Sellers have been asking this question for decades!
Use this example to help you understand what may have happened....
Seller:
"About seven weeks ago, I listed my house for sale with
a local agent of a large franchise brokerage firm. The Realtor
put the listing in the multiple listing service (MLS) and on the
Internet, held an open house for the areas local brokers, and
also had a busload of Realtors come through my house. In about
six weeks, I had around twelve Realtors bring their prospective
buyers to look at my home. They all said it looked in top shape,
however, no offers ever materialized! What especially concerns
me is that the Realtor I gave the listing to didn't’t bring
a single prospect to look at the house. Is this unusual? My house
was priced competitively with one just down the block, which sold
within a few days of the yard sign installation. I decided to
take my house off the market because of what I felt was a lack
of buyers. My home has the original roof, about 14 years old.
Do I need to replace the roof on the house?"
Real Estate Professional:
 "It's
important to price the home correctly at the start. The property
will attract considerable attention in the first few weeks of
it's market start. Should you list at a realistic price, your
chances of generating multiple offers and a quick sale a increased."
"Also, six weeks is not enough time for a home to be exposed
to the market. You should have left it on the market for at least
ninety days. With the lowest mortgage interest rates in years,
homes are selling especially well. But one thing for certain--your
house won’t sell if it’s not listed for sale. Many studies
have been done, in relation to home marketing. One such survey
points out that a home receives the most amount of showings in
the third and fourth week! This is contrary to popular believe
that most showings are at the start. Your 14-year old roof, especially
if the shingles look curled, hurts the salability of your home.
While you are taking a hiatus, put a new roof on. When you’re
ready to attempt to sell the home again, please interview an agent
who sells homes in your vicinity. Request a new CMA (competitive
market analysis) form. Each CMA shows recent sales prices of comparable
nearby homes, expired listings, asking prices of neighborhood
homes now listed for sale, and the Realtors recommended listing
price."
"Furthermore, numerous Realtors specialize in home listings
and don’t often work with home buyers. It is not unusual
for this type of Realtor to not bring any buyers to see your home.
However, your Realtor should be a strong networker in and around
his profession. That means talking up your home among buyer’s
agents who do have prospects! Also, you said 12 Realtors told
you your home looked in top shape. Does that mean you were there
when the Realtors were working with a prospective purchaser? If
so, you made a very major mistake. Always "go for a cup of
coffee" when a Realtor brings a prospect to your home. Buyers
won’t spend any extra time viewing your home as they will
feel uncomfortable and Realtors have others in a lineup to show.
As experienced Realtors know, buyers are not serious until they
start critiquing a home, and they won't do this in front of you!"
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