What to Do if Your Home Isn’t Selling
October 18th, 2011
October 18th, 2011
If your home has been on the real estate market for several months, and you haven’t gotten any offers, you may be wondering what to do next.
Unfortunately, the market is loaded with lots of homes currently, and the economy is not helping either. Therefore, it’s important to step back, reassess, and perhaps put in a little extra effort to increase your odds of getting your home sold.
Here are five tips you can try to position your home to get it sold:
1. Consider taking your home off the market temporarily
If your home has been on the market for 90 days or more, buyers may wonder why and assume that there’s something wrong with it. By taking your home off of the market for a few months, when you do put it back on the market, your home will appear to be a new listing. Plus, by that time, there will be a new set of buyers looking for homes.
2. Reconsider your listing price
If you’ve received lower offers on your home that you previously didn’t consider, now may be the time to determine what the lowest price is that you’ll accept. Or, review the prices of similar homes in your area and consider reducing your price to an amount slightly lower than the homes comparable to yours. It’s also important to be realistic when an offer does come in. In today’s market, it’s not wise to turn down a potential buyer with solid financing just because you’re expecting to get unrealistic offer.
3. Update your home’s appearance
Ask your real estate agent to get feedback from other agents on your home and what improvements you can make to get your home sold. Quick and not-too-expensive cosmetic improvements, like a fresh coat of paint in a neutral color, cleaning the carpets, removing clutter to make the rooms seem bigger, or adding landscaping, can make a big difference in the eyes of a potential buyer.
4. Ensure your home has a good online presence
According to surveys by the National Association of REALTORS®, 91% of homebuyers start their home search online. Make sure your agent has several photos of your home’s interior on their website that give potential buyers a good impression. You may also want to take out some extra online or print ads to sell your home.
5. Consider getting a new listing agent
All agents are not the same; therefore, you need an agent that’s knowledgeable about the marketplace, has a proven track record in your area, and is willing to give your home extra attention to get it sold.
These are just a few tips to selling your home in this tough economy. Above all, remember you need to give potential buyers a good reason for buying your home with the best deal you can provide.
And when you’re ready to start looking for a new home yourself, contact Grandview Lending for information on financing options.
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