Few things can be as frustrating as not getting offers after multiple showings. This can get discouraging for homeowners and have them reevaluate their whole strategy. There are times when they overestimate the market, but in other cases, it might be because of mistakes they’ve made. So, before you assume that the market is the issue, you will take a long hard look at your strategy and see where you could make improvements. Is your home not selling? Try these three things first.
1. Have Your Home Staged
Next to professional real estate photographs, having a well-staged property tops the list of priorities. If you want to get offers, one of the simplest things you could do is having your home staged.
Home stagers do more than just make the house look good. They know the trends in the market and what people want to see. They will design your space to sell and not for aesthetics. This is why it would be a good idea to hire one.
You may be asking yourself, is virtual or physical staging best for your listing? In reality, using both may be the best option. Virtual staging lets you attract people to showings who have already shown interest in our property, as well as people from other markets. It’s also cheaper. So, if you don’t have the funds to have your home physically staged, it could be a good alternative.
2. Adjust Your Price
You also have to think about adjusting your price. This is something your real estate agent will be able to help you with. Ask them if they feel if your asking price is realistic. A good real estate agent will provide you with competitive market analysis (CMA) that will allow you to see how your house stacks up against other properties. A CMA will not only look at prices, however. It will take some of the modifications you’ve made or defects in the property into consideration as well. This will give you an idea of whether your home is overpriced or not.
If the house is priced too high, you should definitely lower it and do so quickly. More frequent smaller price reductions are generally better than larger ones done less often.
3. Hire a New Agent
Simply because your home hasn’t sold quickly, doesn’t automatically mean your agent isn’t doing their job well. But if you aren’t getting quick responses to your questions, you definitely need a new agent. Here are some additional warning signs that you need a new agent.
Make sure to read through the listing contract to understand what your rights are. Just because your agent isn’t very good doesn’t mean you can simply fire them. There are legal ramifications to breaking a contract. Before you can hire that local real estate expert, you may need to speak with a real estate attorney first.
Top agents will have a plan for the best promotion methods for your home and in your market. Take advantage of them!
These are all things that you could do to make your house more desirable to people who are visiting. You should be able to increase showings, which in turn means more offers.
Now if your friends are asking, “Is your home not selling?” You’ll be ready to respond with, “Sure it has!”