The year has drawn to a close, and the property you were trying to sell in 2015 just hasn’t budged. What now? You may naturally be a little disappointed or frustrated, but don’t despair; you still have multiple options. In this article I’ll cover some expert advice on what your next step should be. I’ll clearly outline your options to help you make the right decision moving into 2016.
Taking your House off the Market
You can easily justify this decision, sometimes its important to understand that the market just isn’t quite right at the moment. Have your agent recheck the comparable sold and active homes that are for sale in your neighborhood. This is standard practice of a real estate agent but if its been on the market for a while it probably needs to be checked again. The amount you are needing to sell your house for, may not be justified by the past sale data.It that case you definitely need to pull your listing until the market prices rise to within your desired price. Of course in most instances at the right price, any property will sell. So if you are serious about moving you and your family may benefit from re-evaluating your current list price before you consider taking your house off the market. However, making some improvements to your home in order to increase its desirability may be the best move especially if you had negative comments during your open house showings. Making minor repairs or design improvements that will really boost the appeal of your house is alot easier than it sounds. Sometimes just one more unique feature is enough to sell a property, so use your imagination (or the internet) to come up with an idea that will set your property apart or call me for your property specific advice when your no longer represented by a real estate agent. It could be a clever storage concept or a feature wall. Be aware however, that making improvements doesn’t mean you can suddenly bump up the price. There was a reason your house didn’t sell previously, so keep that in mind.
Re-listing your Home
If you are considering re-listing your home with your existing real estate agent, it is worth asking for their advice. They may have a good idea why the home didn’t sell. Again, this may be going back to pricing, which is always a tricky aspect of the home selling process. If its priced to high you may limit the number of buyers that come out to see your home, but on the other hand if its priced too low then you may be leaving money on the table. Here’s a cool fact. In some cases, pricing your home lower than other comparable homes in your area could result in receiving multiple offers for much more than your intended price. This is a phenomena that I have experienced several times. Its caused by a bidding war between interested buyers. When the price is set lower, you typically see much more activity and interest in your property because everyone wants a deal. This is a tactic that I encourage most of my home selling clients to consider because i’ve had great results using it. As a seller, you may feel scared of the thought of leaving money on the table by using this strategy. I see where you would think that, but keep in mind, that as a seller you will only accept an offer that you are comfortable with. If buyers are making ridiculously low offers you need not accept. Your agent will work with you to improve your campaign and bring buyers along.
You need to convince the buyers that your home is worth having. Make sure the pictures on your listing are clear and good quality, really showing the home at its best. If you don’t have the resources it is worth paying a professional photographer to come in and photograph your house. Choose someone with experience in the field who knows how to use light and composition to make rooms appear big and inviting. Make sure the description of your home is detailed and tells the potential buyer all the great features of the property. Describe the advantages of the location and mention the things that drew you to the house in the first place. In your listing, you are not just selling a house but the lifestyle that comes with it as well.
Sell it Yourself?
Maybe you feel like you’re done with real estate agencies altogether. They didn’t sell your house, so you don’t want to pay them more money for another year of failure. Perhaps you think you can do a better job yourself. For sale by owner’ (FSBO) is an option for you.
However, although this option may seem appealing, the time, effort and money that go into planning a marketing strategy to sell a home are actually pretty hefty. You will need to construct the whole campaign yourself and find all the places to list your house. In order to get wide enough coverage to find a buyer you will need to put a lot of effort into running your home selling campaign efficiently.
If you have the time to spare and the expertise to carry this out, then it certainly is feasible. But remember that you are paying an agent to put all the time and effort in for you, as well as dealing with the negotiations with the buyer.
Find a New Agent
Your best bet for selling your home may be to find a new agency to help you. A good agent will be able to review the aspects of your old campaign and make it better this time around. As a Realtor interested in receiving the opportunity to serve you, i would like to say that if i am given a chance, I will make sure of Improving the pictures, adding aerial drone footage,and creating a you tube video, painting the grass greener than it is(if needed), get the windows cleaned and re-screened (if needed), implement a property website,I stage your home if its vacant or I consult if your still rsiding there on the best ways to present your home to the buying public,I send email blast to 6000+ local agents(because agents have buyers), I send Postcard mailings to 500 of your neighbors inviting them to come preview your home and hopefully help choose their own neighbors, and of course mega open houses until the property is sold using 50 for sale signs to direct traffic to your property which always draw a large crowd. Last but not least, I write a compelling property description that catches a prospective buyers attention. Not only will your house be seen by all agents searching for properties like yours on the MLS but it will also be seen on many syndicated sites such as Zillow, realtor.com, homes.com, craigslist.com, and redfin.com just to name a few. This is how I sell homes so I invite you to give me a try. I will work with you to improve the listing and give my expert advice on how to increase your chances of a sale. Even if you have been disappointed by a real estate agency in the past, I believe that using an agent is always the wisest course of action.
I’m a local Realtor covering the areas of Winchester, Temecula, Murrieta, Menifee, Lake Elsinore, Hemet, San Jacinto, Wildomar, Corona, and Fallbrook California. If you or anyone you know is looking to buy or sell real estate please share this article or my contact info with them. I promise to take great care of them.
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