Reasons Your Home may not have SOLD!!

So you listed your home, and now it didn't sell. Thats a predicament for anyone, especially those who already bought a new home or need to relocate for work or family reasons.....quickly. In Real Estate terminoligy we call this an "Expired Listing". Why? Because it's time simply ran out, and it is now Expired/no longer on the market. There are just a few main reasons why a home may not have sold.

Facts About Expired Listings

Nearly 15% to 25% of all listings do not sell. The market rejects them.

In other words, the market did not accept the Marketing Effort, the Price, the Condition, the Location, or a combination of these areas-perhaps all four of them!

The good thing is that you control two of these areas: Price and Condition. We(as Real Estate Agents) control one: Marketing Efforts.

Marketing Efforts- Here are a few examples that should ALWAYS be used to market a home

Condition: A hundred dollar bill is a great metaphor: they all look good, but people will always choose the nice, clean, crisp one over a dirty wrinkled one. How does your house look to others? This is the crucial important difference between Showing condition and Living condition.

Price: Being overpriced is usually the reason a home did not sell, but condition will help determine what the market is willing to pay. Remember that YOU control price and condition. The wrong price attracts the wrong buyers. It creates a bad reputation for the house in the market place and makes properly priced homes look even better. Would anyone intentionally put their home on the market to help sell the competition?

Location: Nobody can do a thing about their location except to accent the positives and minimize the negatives.

Lets say you havn't yet listed your house, or you did and it already expired. What should you do? Well, if you need to sell, especially if you need to sell in a timely manner....Contact an agent. Be sure to interview your agent, NOT ALL AGENTS ARE ALIKE. Yes, I said interview. Ask them what they are going to do to get your house sold, and ask them why they think it didn't sell the first time. If your home didn't sell the first time, be ready for some tough love. Often the price is just too high...the other most common reason is that it isn't in selling condition for the price being asked. Your agent should advise you on how to prepare your home. Visit our Post Questions To Ask Your Agent BEFORE You Hire Them for more information.

For more information on Home-buying or Selling Contact Me for a sit down consultation. Also, feel free to use my website http://www.thelandryteam.com/ as a real estate resource.

As well, you can visit my website and get set up on Free Market Snapshots!! These can be customized for buyers or sellers. This will help you know your market, know whats going on, and know what your competition is looking at too. For sellers, this is a great tool to help price your home, and scope out the competition.

Liz Landry-Keller Williams Realty First Coast

1.877.886.0849