There are three factors that are within a seller’s control that, if unaddressed, could prevent their home from selling.
1. Whether or not you’ve hired a broker or you’ve hired the right broker. If nobody knows that your home is for sale, nobody is going to buy it. The marketing of your property is what the broker should be doing to get your listing in front of as many consumers as possible. The quality of their marketing strategy matters as well, so evaluate exactly what it is your broker is doing to market your property.
2. The condition of your home. Not every house needs to be upgraded. You could have a house that’s well maintained where increasing the condition might make it sell for more money, but you won’t actually get a return on that investment. There are certain things you can do with regards to the condition that will improve the likelihood of your home’s sale, such as cosmetic repairs, staging, and professional cleaning. Ask your agent whether or not the project you want to begin will actually be worth the investment.
“If your property sits too long beyond the average days on market, studies show that you can end up with a below-market value sale.”
3. Price or patience? If you have a low motivation and don’t really care whether or not your home will sell, you can always wait long enough for the market to appreciated up to your price. Here’s a warning, however: if your property sits too long beyond the average days on market, studies show that you can end up with a below-market value sale. People will start to look at that property with suspicion—what’s wrong with it?—and it will stagnate. With that in mind, we always counsel people to price their property correctly to begin with, which increases the probability of an at-market or even above-market sale.
If you have any questions about these factors or anything else to do with real estate, including a free home value estimate or consultation, feel free to reach out to us. One of our team members will follow up as quickly as possible. Have a great day!