My Home Didn’t Sell! Now What?
When it comes to listing your home, most home sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple. And homeowners who try to do it themselves—or receive bad advice—can end up stuck (months later) with a property that hasn’t sold.
If that’s you, don’t panic! I have outlined the top five reasons a home doesn’t sell—and action steps you can take to overcome each of these issues.
Not sure why your property didn’t sell? If you’re not already working with an agent or your listing has expired or been withdrawn, give me a call! We’d be happy to offer a free, no-obligation assessment and create an action plan to get your home SOLD.
This marketing piece is not intended as a solicitation for properties currently in an exclusive agreement with another Broker.
- BAD TIMING
If your home didn’t sell after several months on the market, timing could’ve been a factor. Markets are driven by the law of supply and demand, and real estate is no exception.
When there are a lot of people who want to buy homes (demand) and a shortage of inventory (supply), it’s considered a seller’s market. During a seller’s market, listings tend to get snapped up quickly. In a buyer’s market, however, there are more homes for sale than active buyers. This can cause homes to sell for less money and to sit on the market for a longer period of time before receiving an offer.
What causes the shift between a seller’s market and a buyer’s market? Economic factors like interest rates, affordability, domestic growth, and the unemployment rate can all impact buyer demand. Over the past year, for example, higher mortgage rates have not only made it harder for some borrowers to qualify for a home loan, they have also sharply pushed up homebuyers' anticipated...
