Home has been on the market for months, Listing contract and patience have expired, what to do?

Did you have your home on the market and the listing contract has expired along with your patience? You have your home on the market for months, it has not sold and you do not know why? There are a handful of reasons that homes do not sell, but I have to say the number one reason is price. Following that there is also the home's condition, marketing (or the agent that you hire), location, and other things that can impact your sale. Read over these before you put your home back on the market.

Price: Many sellers now have their home overpriced. With the market being as high as it was two years ago, many of you have neighbors who have sold homes for more money than your home is worth now. Unfortunately, this happens in the real estate market. At this point however; it does not matter what the neighbor's home sold for, how much money you need for your home, or anything else except for the market value of your home today. The market value is determined by what a ready, willing and able buyer is willing to pay for your home. By overpricing it, often you will end up netting less than the value of your home because it has not sold. Buyers than think something is wrong with it.

Condition: To sell a home quickly, the home needs to have been maintained. Many buyers in today's market are looking for homes with new kitchens, new baths, and other upgrades. If you do not have a new kitchen or bath, you can still sell your home at the correct price if it appears that the home has been well maintained. Please declutter and possibly add a fresh coat of paint. You never have a second chance to make a good first opinion.

The agent that you chose:Please be careful about who you hire to represent you in the sale of your home. Your home is probably the biggest investment that you have made. Please be sure what the agent (broker) is going to do to market your home. Are they going to advertise it? Hold Open houses? Where will they put it on the Internet? Virtual tour? Realtor.com? After your home is listed with a broker, please double check and make sure that they have put room sizes in the multiple listing service. Also make sure there are pictures. Buyers like to know approximately how big the rooms are and will possibly eliminate homes that do not have pictures. Make sure some of the pictures are decent interior shots. Usually both buyers and their agents think something is probably wrong with the home if there are a couple exterior shots and none showing the inside of your home. Do not just chose an agent because they say your home is worth more than the other ones did. Chose an agent who wants to SELL your home, not just list it!

If you still would like to sell your home located in the Bucks County real estate market, Marcie Purcell and I would love to meet with you and discuss how we would market you home. Please give us a call or email us for a free market analysis.