Having your home on the market for longer then you planned and not knowing why or if it will sell, can be a frustrating ordeal. Especially when you’re ready to get started in a new home. Having experienced this before, I thought I would share the most common reasons why your home isn’t selling.
✅ Listing Price – The most common reason why your home isn't selling is price. When homeowners are setting the price, they usually have a number in their head of what they think its worth. The job of a good real estate agent is to do the market research and show you honestly what the value of your home is in the current market. To find that out, you need your agent to see what has sold around you with a similar layout and square footage of your home. To compare the best price, the closer to your home the better. Find a home that sold in the same neighborhood with in the last three to six months, add in any upgraded features your home has and you now have the correct listing price.
✅ No Marketing Plan – If you would never go on a road trip without first using google maps to map out how to get there, then why would you sell your home with out a proven plan of success. Not having a detailed marketing plan with a timeline is the best way to not get a home sold. Talk with your agent and see if they have a marketing plan that fits with this day and age. What is next in case no offers come within the next two weeks? Sit down and listen to strategy and the timeline of how your agent plans on getting your home sold.
✅ Market Exposure through Technology – One major factor that tends to get overlooked is market exposure through technology. It is common for people to think that the old way of marketing still works, but we are now in a digital revolution. With everyone’s attention being online, its important to stay up with technology to present your home in the best light. In real estate, Matterport technology is that next level. Matterport technology is having a digital 3d tour blue print of your home that stands you out among the thousands of listings on the market.
✅ Large Brokerages have more reach – Knowing the network reach of my current brokerage RE/MAX, it has shown me the importance of listing a home with a larger broker. Just the reach alone on the RE/MAX website & network, shows why they have more transactions per year, per agent, than any other brokerage in the US. Small unknown real estate companies can’t compete with the reach and resources of the top real estate companies in the US.
So the listing price, the marketing plan, market exposure and a larger brokerage are a few indicators on why your home might not be selling. Another possible reason is that your agent simply just lists your home. It is important to find an agent that has your best interest at heart by actively marketing your home so that you can starting living your life where you were meant to be.
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