TWO REASONS WHY A HOME WON’T SELL
There are really only two reasons why a home doesn’t sell. People say price, condition, location, that sort of thing. But what I would say is the two reasons why home doesn’t sell is price and the communication between you and your listing agent. The listing agent represents you the best possible way, or should anyway. So simply putting the house on the MLS and waiting for showings to call, and waiting for appointments to be set on your house, is really not enough, right? So let’s focus on the price.
If we don’t think price is the issue on why a home doesn’t sell, let’s put your house up at $100,000 and see how quick it takes, right? It’ll sell in a minute. In fact, I’d probably buy it regardless of where it is. So price is absolutely the reason. People see your home online, they determine at bed bath count, they determine the square footage, and they decide whether they’re going to make the trip.
Meaning, are they going to call their agent say, I’d like to see this house? So people determine the price to value on your home, even before they reach out and talk to somebody about it. So to say that price isn’t an issue as to why your home doesn’t sell or didn’t sell is not really a valid argument based on how consumers search for homes and consumer behavior. The second piece is the communication between your agent. What is your agent doing to communicate with you?
Are they reporting back how many people have looked at your house on Zillow, Truly, or Realtor? How many people have called? What’s the feedback on the house? Now, of course, feedback is only so good, and we’ll have another Russell really to minute on just feedback itself. Because the only feedback that matters is are they going to make an offer or not. You can’t change the layout; you can’t change this, you can’t change that.
Now, if your whole house has an odor, it’s got some ugly carpets, or it’s got some wallpaper or some broken mirrors or things like that. You probably could fix those pieces, so it shows well, but your agent should communicate that prior to putting your home in the market. So part of the agent’s job is to communicate with the buyer agent; when an appointment set, this is the benefit of the house; this is where we priced it. This is what we think are special about the home.
Communication between the listing agent the buyer agent is key, and then delivering that information back to you is also key. You need to make sure that your agent is representing the house the way you want it to be represented. Highlighting the features and the benefits of the house. The fact that it’s got a bathroom upstairs, most cape cods don’t. The fact that it’s got a finished basement most don’t. The fact it has a custom two-car garage. You can’t let people just assume that they’re going to read through the description and understand it.
It’s very important for that listing agent to communicate that and certainly be on the same page with you in regards to what your goals are your time frame. What price range you’re kind of looking for, and how you want that communication to be handled. Whether it’s by phone call, by text, by email, how often, so what we do here at ERA Russell realtor group is we give you a guarantee in writing.
We’re going to call you at this particular time, we’re going to update you as often as we can. This is the feedback we’re going to deliver; this is the marketing we’re going to deliver. So if the house doesn’t sell, it’s not going to be the fault of the marketing, because your home will be exposed in the best possible light. And we will communicate that to the best of our ability. So again, the two reasons why a home won’t sell is price and communication with listing agent. Location? I think there’s a buyer for every house.
Location condition? I think there’s a buyer for every house. Those two could be used, but at the end of day, it is a price-driven market, and it is a communication world. And those are the two things that help a seller sell their house as quick as they possibly can, with the maximum amount of exposure for the least amount of cost.