Selling a home is
an emotional process and one of the biggest financial decisions you can make in
your life. It can be disappointing when your listing agreement expires,
especially if you’re no closer to selling the house than when you first
started. It’s time for you to assess your process. Regardless of the length of
listing, the broker/seller working relationship has come to an end and this can
be when sellers ask whose fault it is that the home isn't selling.
Take these
following factors into consideration when deciding what your next move will be.
Motivation - Let’s start with why you chose to list your
home. Why are you selling, and do you really want to sell your house? A seller
with a strong motivation to sell their home will result in a successful sale.
Are you choosing to list your home for the right reasons? Are you fully
invested in the process? Are you truly motivated? Maybe you don't have a reason
to sell and perhaps you should temporarily take your home off the market.
Condition of house
- Your job in preparing your
home for sale is to make it appealing to the widest range of buyers as
possible. Prospective buyers view many properties during their home search.
What improvements can you make so that your property stands out among competition?
How does your home compare to similar properties on the market in your area?
Sometimes all it takes is a few minor repairs, a good clean, fresh coat of
paint or front yard landscaping to attract more buyers.
Buyer objections
- What have buyers said
about your home? Review buyer feedback, which your agent should have obtained
for you when your home first went on the market. Is there validity to what
buyers were saying? How can you compensate for those objections and what can
you do differently? You need to be able to adjust and improve the showing
experience for the next prospective buyer.
Marketing - Marketing is crucial because if no one
knows your property is for sale, you are not going to get any buyers through or
offers. Was there a business plan to sell your home? Review the marketing plan
with your agent, step-by-step. Did your real estate agent implement marketing
strategies to sell your home? Did you employ a variety of strategies to market
your listing? These days, effective marketing includes both online and offline
tactics.
Price - Ultimately, it always comes down to price.
Any house will sell when the price is right – even if the place is full of junk
and falling apart. Sure, it may not sell for the price you want, but there is
usually a buyer for every property, given its priced appropriately. It was your
agent’s job to help you set a list price that would attract the right buyers,
get your home in optimal showing condition, and evaluate the market to put you
in a better negotiating position. Either he or she didn’t do their job, or you
didn’t listen to what they told you.
Consult new real
estate agents - You won't
have to look too far to find agents because they'll all come crawling out of
the woodwork when your listing expires. If you decide to hire and new agent
represent you and relist your property, be sure to describe the history of your
listing.
Interview agents.
Ask the hard questions to determine if the agents are giving you the right
answers. Find out what another agent might do differently.
It's important to
remember that statistics show you net more money when you use a REALTOR®.
Finding a top local real estate agent is crucial to helping your sale. Stay
positive! Keeping a positive mindset is important. Once you determine the
reasons your home didn't sell the first time, change what needs to be fixed and
you'll walk away with a successful transaction!
Lisa DiBiase
Broker/Owner
Landing Real Estate
207-653-0823
lisa@landinghomesmaine.com
www.landinghomesmaine.com
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