January 03, 2019
When you put your house on the market and it doesn’t sell, but homes around your house do, it would be very hard not to feel a bit hurt. Even though it’s just a house, the truth is, our homes are extensions of ourselves, a place that’s shared our joys, received our tears and surrounded us in safety through our best and worst days.
Why wasn’t my house good enough for someone to buy? Feelings of being passed over, rejected, expired may be difficult to understand or overcome. You may find yourself wondering “What’s wrong with this house – after all, we love it here!”
Many things can be a hindrance to a successful sale, but like all challenges, under the right conditions the challenge can be met and overcome.
The three main reasons a house lingers so long on the market that a listing contract expires include:
- Lack of demand. This could be anything from having a “2 bedroom bungalow for sale” in a “3 bedrooms or more needed” marketplace to having too small a yard in a neighborhood filled with young families looking for outdoor living space.
- Condition of home unacceptable. Deferred maintenance easily translates to “possible huge repair issues” to someone looking at a home through the eyes of making what amounts to one of the largest purchases they will ever commit to. Even though there may be no repair issues, the impression made on potential buyers has a huge impact on the decision they will make about buying a house.
- PRICE! It cannot be stressed enough. The value of a home is far less about numbers a bank appraiser may come up with and far more about what a home is worth in the eyes of a potential new owner. Every home has that perfect price, which is a perfect blend of what a buyer is willing to pay and what a seller is willing to sell for.
Marketing can also have an unmistakable impact on how much and how fast a home sells. Working with an experienced local marketing specialist ensures your best opportunity for overcoming whatever obstacles may have led to the original condition of becoming an EXPIRED LISTING, bringing you and a happy buyer together at a closing table.