My Home Didn't Sell! Now What?

The Law of Supply and Demand is the primary driver in all markets, real estate included. If your home did not sell after several months, timing may be a factor.  

When demand is greater than supply, it's considered a seller's market and homes sell quickly. In a buyer's market however, demand is is tempered either through a high inventory of homes or because of interest rates or other market factors. This can cause homes to sit on the market longer, sell for less money, or not sell at all.

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Now What?

In many cases, buyers can be motivated to act through various actions such as property improvements or repairs, incentives, and market-adjusted pricing. If you think timing has played a role in your home not selling, consult with a knowledgeable real estate agent who understands these market nuances. While I don't own a crystal ball, I can estimate how the expected time on market for a home similar to yours, given the current market conditions.

Did your home have a steady stream of showings when it was on the market? If not you may need a new promotional strategy.

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Take a look at your listing description and photos. A clear and engaging description, plus high-quality photos and video are crucial for enticing a potential buyer to want tot see your house in person. Another question to ask is whether or not your listing reached the right audience. Some properties require a robust, multi-faceted marketing approach to be found by the most interested buyers.

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Now What?

If you suspect ineffective marketing, think about turning to a skilled professional with a proven approach. Diane and Realty Texas employ the latest technologies to seed  the marketplace, optimize search engine placement, and position your house for the best possible impression and greatest reach from Day 1 of the listing.

If your house received a steady stream of showings but no offers, you may need to take a fresh look at the impression the house made on buyers who visited the property.

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Beginning with the house's structure & systems, look for any "red flags" that could've scared buyers away such cracks in the foundation or drywall, or evidence of repaired ceiling patches. Next, are there any neglected maintenance items or repairs standing out? Last but not least, was your home properly prepped and staged to highlight it's unique vibe and appeal? A clean, decluttered, and staged space helps buyers more easily picture themselves enjoying life in your house.​

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Now What?

When Diane takes on a new listing, she always walks through it with the homeowner, pointing out any potential areas for improvement and steps that can be taken toward improving the homes sales potential. Staging techniques and/or professional staging may be suggested to help homes sell faster and for the most money possible. Diane can help you determine the appropriate budget and effort required to get your house sold.

It is possible your home's original asking price was set using sales data from before a market shift. In any market phase or economic climate, pricing a home is always part science and part art because so many factors can impact how much buyers ae willing to pay.

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Many sellers are hesitant to "reposition" their listing (that's a nice way of saying "lower the price"). The facts on the ground show, though, buyers may not seriously consider your property if they think it is overpriced. If your home sat on the market for more than 21 days without an offer, chances are good that your asking price needs to be reevaluated.

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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, updates, and staging may help increase the perceived value of your home, which may be enough to bring a buyer to the table at the original asking price.

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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. Diane can help you determine a realistic asking price given today's market conditions.

If  you suspect 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.​

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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 valuable time and money in the long run.

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Now What?

If either of these scenarios sounds familiar, let's talk. By now, you owe yourself more than the status quo when it comes to real estate representation. Diane's Re-Listing Service can help you sell your home for the most money possible, and in the process reconnect you with the excitement you originally felt when you first put your home on the market. It's time for a new agent, new  marketing, new buyers, and new possibilities.