Reason #1: 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 demand outpaces supply, it’s considered a seller’s market and homes 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.
Now What?
In most cases, buyers can be motivated to act with a combination of improvements, incentives, and pricing. If you suspect timing played a role in your inability to sell, consult with a knowledgeable real estate agent. We can estimate how long a home like yours should take to sell given current market conditions.
Reason #2: Ineffective Marketing
Did your home get a steady stream of showings when it was on the market? If not, you may need to try a new promotional strategy.
Take a look at your listing description and photos. A clear description and high-quality photos are crucial. Many buyers use these to decide whether or not to visit your home. Another factor to consider is whether your listing reached the right audience. Some properties require a more robust marketing approach to be found by the most interested buyers.
Now What?
If you suspect ineffective marketing, consider turning to a skilled professional with a proven approach. We employ the latest technologies to seed the marketplace, optimize for search engine placement, and position your home for the best possible impression right out of the gate.
Want to learn more? View our complete Property Marketing Plan.
Reason #3: Poor Impression
If your property received a lot of foot traffic but no offers, you may need to examine the impression you made on buyers who visited your property.
Start with your home’s structure and systems. Are there any “red flags” that could’ve scared away buyers, such as large cracks in the foundation or water stains on the ceiling? What about neglected maintenance and repairs? Finally, was your home properly prepped to maximize its appeal? A clean and decluttered space helps buyers more easily picture themselves living in your home.
Now What?
When we take on a new listing, we always walk through it with the homeowner and point out any steps that should be taken to boost its sales potential. In some cases, we will recommend that you utilize staging techniques that are shown to help homes sell faster and for more money. We can help you determine the appropriate budget and effort required to get your home sold.
Reason #4: Price Is Too High
It’s possible your home’s original asking price was set using sales data from before a market shift. But regardless of the economic climate, pricing a home is always tricky because so many factors can impact how much buyers are willing to pay.
Many homeowners are reluctant to drop their listing price. But the reality is, buyers may not seriously consider your property if they think your home is overpriced. If your home sat on the market for months without an offer, then chances are good that your asking price needs to be reevaluated.
Now What?
If you aren’t in a rush to sell, adjustments to timing or marketing may bring in a new pool of potential buyers. And repairs, upgrades, and staging can increase the perceived value of your home, which may be enough to bring a buyer to the table at your original list price.
However, if you need to sell quickly, or you’ve already exhausted those options, a price reduction may be necessary to get your home the attention it needs. We can help you determine a realistic asking price given today’s market conditions.
Reason #5: You Hired the Wrong Agent (Or No Agent At All)
If you suspect that your previous real estate agent didn’t do enough—or used the wrong approach—to sell your home, you’re not alone. Many sellers whose listings languish until they expire or are withdrawn feel this way.
Or, perhaps you chose not to hire a listing agent at all and have been trying to sell your home yourself. That can be an equally frustrating experience—and research shows it can actually cost you time and money in the long run.
Now What?
If either of those scenarios sounds familiar, we should talk. By now, you owe yourself more than the status quo when it comes to your real estate representation. Our multi-step Property Marketing Plan can help you sell your home for the most money possible, and in the process reconnect you with the excitement you originally felt upon first listing. It’s time for a new agent, new marketing, new buyers, and most of all… new possibilities.
Ready to Make a Move?
Kim Thomson
After working her way up to the position of Controller of a $150 Million-dollar manufacturing firm, Kim Thomson decided it was time to move on. Her desire to apply over 20 years of experience in accounting and finance to build a business of her own, led Kim to the southern California real estate industry. In June 2001, she created a practical, 5-year business plan to gradually move from her full-time Controller position to full-time real estate agent.
Planning makes perfect. Kim left the corporate world to focus solely on real estate within 2 years of starting her real estate career. Her highly developed analytical and leadership skills, along with her keen ability to listen and interpret her clients’ home buying and selling requirements, are the secrets to her success. Kim prides herself on making excellence as a minimum standard and putting the client’s interest first, which is why almost 70 percent of her business is generated from referrals. As Kim says, "I treat each client’s transaction as if they were my own."
Kim continually studies real estate market trends and makes adjustments to her real estate practice to keep up with the most important trends. She maximizes the Internet for the obvious benefits of her home sellers and buyers. Kim keeps in touch with the local business community by her involvement in the Valley Industry Association (VIA), Women’s Council of Realtors and Soroptimist International. This commitment to her profession has consistently placed Kim in the Top 1% of Realtors nationally.
Kim’s spare time is dedicated to her husband Lee, their 5 children, 9 grandchildren and 4 great grandchildren. Kim along with her husband Lee love to RV travel as much and as often as possible. Her other passions include spending time at the beach, water sports (boating and jet skiing) and pottery.
Kim’s greatest satisfaction in her real estate business is watching her clients fulfill their dreams. A multi-million dollar profit and loss statement is no match for the satisfaction of helping her clients find the property they can call "home." Kim says "I’m blessed to have the finest clients and to have found a business which gives me so much satisfaction."
Equity Union - Real Estate
Suite 100
Valencia, CA 91355
United States