If you were one of the unfortunate people who had a home on the market for at least 6 months or more and it didn't sell, there could be one or several factors involved. If your listing has expired on the market and you are still interested in selling it, start making plans today to make a commitment to do what it takes to get it sold! Your first step should be to hire a real estate professional who gives you honest advice on price, condition and market time.
We have prepared this special report for expired listings that will give you 4 possible reasons that your property was not chosen by the many home buyers in the buying market.
4 Possible Reasons Your Mansfield Storrs CT Area Home Didn’t Sell
1.) You Overpriced Your Mansfield Area Home.
This is the most common reason that properties don’t sell. Your agent should have provided a complete overview of the current market conditions at the time of listing. This includes not just sold properties but also current market inventory that compares to yours that remains unsold. It is critical that you establish a realistic price for your property taking into account all of the available data. The most activity that your property will realize will be in the first 21 days of listing. An overpriced property goes stale very quickly in a fast moving market.
2.) You Hired the Wrong Agent to Represent You.
You hired your agent to work as your representative in marketing your home. Did they honor that commitment? Did you listen to your agent's advice? Did your agent provide feedback to you from showings and previews? Some, but not all feedback, can be a very valuable barometer in how your property compares to others on the market. Your agent should work to find out why your property wasn’t the chosen one and keep you in the loop as far as deposits and solds while your property is available for sale.
3.) You Didn't Make A Great First Impression.
A clean, bright home free of debris and obvious deferred maintenance are the first homes to sell. They easily outshine their competition. A home stager can be a great asset to those who are decorating-challenged or are not objective about the appearance of their own home. A stager can provide a fresh outside look and make recommendations for small inexpensive changes that can make for a profitable sale. Ask your agent if they provide stagers for their listings. We also offer a video "How to Price and Prepare Your Home For Sale", which includes tips on cleaning, painting, and de-cluttering before you put your home on the market.
4.) Your Marketing Plan Was Insufficient.
At the listing appointment, you should ask your potential agent for a marketing plan for your property. What do they see as vital to the marketing of your home given your area, price and demographic? Will they offer Facebook or other internet advertising? What repairs and updates do they recommend to get the most money for your home? Do they make it easy for buyers to get information on your home?
The next time you list your home on the market for sale consider these points and ask yourself did I make the right choices? What can I do this time to have a successful outcome?
If you're ready to put your home back on the market, successfully this time, be sure to request your Home Evaluation CMA. Or do you still have questions and need more information? If so, contact us today and you will receive a prompt response from one of our professional realtors.