There are a number of factors why a home doesn’t sell after it’s listed for sale.
The main factors that determine whether a home sells are its LOCATION, and PRICE compared to other similar homes on the market, and the MARKETING used to promote the home to prospective buyers.
If you want to know why your home didn’t sell, you should get feedback from previous agents who showed your home to their buyer clients to find out why they chose not to make an offer on the home.
You can use this feedback to make the necessary adjustments. For example, a home may not be in as good condition as other homes on the market for the same price. In this case, making some cosmetic updates and repairs can help get the desired price. In another case, the home may not have been represented well online in its marketing. For example, if professional photography wasn’t used in the marketing, prospective buyers may have gotten the impression the home was in poor condition.
I use the “3P Formula” for getting your home sold:
- Preparation – getting the right things ready so buyers will value your homes features.
- Price – pricing your home to avoid Limbo Land, a place where homes sit on the market indefinitely.
- Promotion – marketing your home to get your home found online and generate buyer interest.
I work with my clients to implement the 3 Ps and sell homes for higher, on average, than the typical real estate agent.