Any home that is on the market longer than expected is because of one of the following reasons.
What factors can make or break a sale? If you listed a home on the market and it hasn’t sold after a few weeks, you may be wondering where you could have gone wrong. It's time to put on your detective hat and gather some evidence. Here are the six key pieces of evidence you need to collect:
1. The terms your seller is offering on their listing. Is there anything unique? For example, they need to find a home before they agree to sell their current home. That could create some challenges and push some buyers away. Look at the terms and figure out what might be hindering you from selling that home.
"Look at your seller’s terms and figure out what might be hindering you from selling that home."
2. The quality of your marketing. Is it cutting it? Are you doing what you told the seller that you would do? If you set up a very good plan at the beginning and you have a tried-and-true process, marketing will never be your issue, but it's very important to remind the seller of that at this time. Talk to them about your statistics and reemphasize your marketing works.
3. The amenities in the home. When comparing the home to other homes directly in the neighborhood or directly comparable to it, is it lacking in amenities? For example, maybe your home doesn't have a pool, and every other home in the neighborhood has one. That could create a huge price difference, and you have to ensure that your seller understands that they might not be able to get as much money as they once thought possible because of this reason.
4. The location of the home. Are they located on a busy road? Do they back up to a pond? There may be some sort of location factor that’s causing the home not to sell. This may require your seller to focus on price because they obviously can't pick up their house and move it.
5. The condition of the home. Is it set up properly for showings? Is it clean? Does it smell nice? Are the pets put away? Are the lights on? Oftentimes, you can have a good conversation with your sellers about this because you may have received some feedback about the house before.
6. The price of the home. It's strategically the last one because it's usually the culprit to why the home isn't selling. However, it's important to go through those first five pieces of evidence before you get to the price. If all the other factors are in good condition, the only other thing keeping it from selling is the price. You want to come prepared with comparable sales and show them what has been happening since that home was listed for sale.
This may be a lot to keep track of. To help you with this, we have a free custom home report card which I can send you by going to this link. For any other questions about this topic or anything else, please feel free to call or email me. I can set up a 30-minute zoom call. I look forward to hearing from you.
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