Top 3 Reasons Your House Won't Sell

A property that does not sell during the contracted listing period is referred to as an Expired Listing in the real estate world. An Expired Listing can be extremely frustrating for a homeowner who has been attempting to sell a home in order to achieve a major life change or target. These homeowners, on the other hand, aren’t alone. Unfortunately, the average real estate agent only sells 60-70 percent of his or her listing inventory. In a healthy market, this ensures that up to 40% of listing contracts will expire before the home sells.

Here are the top three reasons why a property will not sell during the duration of its listing contract:

Condition

The property’s condition may be a major deterrent or an enticing factor in a buyer’s decision to make a bid. Has the house been renovated in the last 5 to 10 years, or is it still covered in 1970s shag carpet? The retro look is making a comeback, but most buyers aren’t keen on buying a home with countertops and cabinets that have seen 40 years of use. In general, keeping your home up to date with current trends will not only help it sell quicker, but it will also help you sell it for more money. It is not difficult to sell a dated home for the highest possible price; however, you must be “on-point” for the following two reasons.

Marketing

How is your property being promoted? Most agents can list your home on the local MLS system and leave the rest to their broker’s marketing systems. Unfortunately, most brokers use a traditional IDX (Internet Data Exchange) marketing strategy, which simply shares the listing with all other local brokers in the hopes of increasing visibility.

The issue is that we now live in the Information Age, where mobile app, social networking, and social media patterns shift faster than you can tell Twitterpated! If you want to sell your home as quickly as possible in this fast-paced internet era, you’ll need to concentrate on the technologies and applications that will give your property the most market exposure.

Asking Price

Pricing is the number one reason homes do not sell within the first listing contract in a close race with marketing. This is due to a variety of factors. Is a home essentially overpriced if it is priced correctly in relation to the neighborhood but not in relation to the condition of the land in relation to comparable homes? Probably yes.

If the market is trending downward and the property is currently priced well, it will not be priced well in the next 2-4 weeks. If the home is priced correctly but the marketing fails to match, the home becomes overpriced due to the lack of marketing…

Bottom Line

In a nutshell, these three variables combine to either establish a successful listing or another expired one. If you want to make sure your real estate sale goes smoothly, the best thing you can do is consider these and hire my team – we’d be happy to help you out in selling your home for top dollars in this crazy market.

We have systems and team members in place to make sure your home will be sold quickly. Click here now to get your FREE home evaluation report to know your home’s value in today’s market and we’ll start your home selling journey from there!