How Do I Get My House To Sell?
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~ HOME SELLERS REAL ESTATE LEARNING CENTER ~
Home Sellers Real Estate Learning Center
You put your home up for sale and it simply didn’t sell. Undoubtedly, this has created a lot of stress, inconvenience and anxiety for you and your family. Perhaps you already bought another home. Maybe you needed this home sold because of a job change. Regardless of the reason, it’s a burden!
What Should You Do?
The first thing to do is take a step back and analyze the situation. Try to assess what factors led to your home not selling. Below are the top four reasons why homes tend to languish on the market:
Is The Property Overpriced?
Overpricing your property is usually the number one reason it did not sell. Assuming your neighborhood or area has homes with similar features (number of bedrooms and baths, lot size, etc.) on the market for a lower price, buyers will naturally buy those properties first. The price of your property should be competitively priced with these other homes. That means if you want to sell your home, price the home at or slightly below the comparables. Your real estate agent will help you establish the best price based on the competition. Again, pricing your property above comparable properties can easily cause it to languish.
Another problem with pricing higher than competitive
properties is the price reductions. Most homeowners will reduce the
price once they realize their home is priced higher than the competition.
When your real estate agent enters the price reduction in the MLS, the
property is probably at or near where it should have been priced in
the first place. The problem now is you missed a lot of the buyers the
first round that bought comparable homes for the same price you have
just reduced your home to....
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