If you have a house that didn’t sell and is now expired, you need to first review 4 major areas where there might be a problem. What were the failures in your previous home marketing and how can these be solved?
1. TEAMWORK
Your relationship with your REALTOR® should be a partnership where your wishes and needs are heard. You are trusting your valuable asset with someone who needs to be in full communication with you every step of the way, with feedback on the progress of the sale of your home. You need detailed and dependable feedback from the agents who previously showed your home, so that together, you and your agent can decide what the next steps should be to get your home sold. This is the responsibility of your agent. HOW WELL DID THIS HAPPEN THE LAST TIME YOUR HOME WAS FOR SALE?
2. PRICING COULD BE WHY YOU HAD A HOUSE THAT DIDN’T SELL
The “right” price depends on market conditions, the condition of your property, and the current competition. Most Sellers are worried about pricing too low, but pricing too high can be even more dangerous. Your home must compare favorably with other homes in the same pricing bracket where your home falls, or buyers, and any agents who might show it, will not take your home seriously. DID YOUR PRICE WORK FOR, OR AGAINST YOU, THE LAST TIME IT WAS LISTED?
Get accurate statistics from your agent!
- Ask for a competitive market analysis of the latest sales and new listings.
- Get an “average days on the market” report for homes that have been listed, so that you can understand the time frame for selling as of today.
- Review other expired listings to understand issues that kept them from selling.
- It is important to note that what you paid for your home does not reflect what it might sell for today. What a Buyer will pay is going to be tied to current market conditions. Also, some expenditures on your home will increase value, and others will not.
3. HOME CONDITION
Buying a home is almost always an emotional decision. When Buyers enter, will they feel that this is their dream home?
A home in showcase condition invites a sale and will outshine the competition! To get there, you will need to:
- Declutter
- Fix all of the squeaks, cracks, and any other minor or major repairs that will be obvious to Buyers or a Home Inspector
- Keep it clean for all showings, with attention to ceiling fans, baseboards, floors, fingerprints on light switches, and having a spotless kitchen and bathrooms
- Brighten it up with paint, remove heavy curtains, etc.
- Maintain the exterior curb appeal
A great listing agent will know how to assess the things that will be most effective. TRY TO BE THE MOST APPEALING HOME ON THE MARKET IN YOUR PRICE BRACKET!
4. MARKETING
Find the agent who will best represent you. Will they be running ads and spending where the Buyers are? Will your home be made to stand out with customized online marketing, professional photographs, and video? Will drone shots be used to show off the lot, location, and special neighborhood features? Agents who are adept at Social Media, Google Ads, YouTube, and other savvy marketing, and have a custom website that ranks online, will provide much more exposure for your home. Outdated methods of marketing no longer work in today’s market! COULD A MARKETING PLAN THAT WAS LACKING IN SOME WAY, BE THE REASON THAT YOU HAD A HOUSE THAT DIDN’T SELL?
Would you like to talk more about giving your home a fresh start on the Birmingham, Alabama real estate market? Contact me and I will promptly respond to you!
