The Madison housing market has been very good for sellers in 2016. Insanely good. It appears to be a true sellers market. There is not enough inventory for the amount of people out there looking to buy a home (see my article to learn what “inventory” means). In this type of market everyone expects that their home will sell right away because the market is “hot”. That is not always the case. What if your home isn’t selling?
Here are 5 reasons your home isn’t selling:
1.PRICING! You priced your house too high. I would say without question that pricing a house too high is the #1 reason why your house may not be selling. Sellers often have an emotional attachment to their home and sometimes do not look at things objectively. Just because you need to get a certain price for your home doesn’t mean that is what it is worth. Quite honestly, your home is only worth what a buyer is willing to pay. That is sometimes hard for a seller to hear. If you haven’t had many showings or inquiries in the first 30 days on the market, this could be a sign that your home is priced too high. I like to make sure I know a neighborhood really well and help my clients with determining the best price that the house will sell. A knowledgeable listing agent will have many resources and tools to assist in getting you the best price possible. At the end of the day the seller has the final say on the price.
2. You’re not marketing your house correctly. Is your home listed on the MLS? Do you have have social media buzz on your home and neighborhood? Do you have a “For Sale” sign in front of your home? Do you have absolutely stunning photographs of your home that stand out online? Does your Realtor have connections and buyers to bring to the table? When I list a home I have a full detailed marketing plan that is tailored to my clients needs and their home.
3. Your house has too much, “you” in it. Let’s face it, our homes are an extension of ourselves. We make our homes to reflect our personalities, put pictures up of people we love, and collect lots of things over our time. If a potential buyer cannot see themselves in the home as “their home” then most likely they will move on to a house that does. I know it sounds cruel but we all don’t have the same tastes. Keeping things neutral, pictures and personal items to a minimal, and a warm and welcoming staging strategy really help.
4. You are not flexible. It’s not easy-peasy selling a home if you want top dollar and a quick sale. You have to keep your home clean, you have to be willing to accommodate showings, open houses, etc… If no one can get in to see the house you wont sell it.
5. You don’t have a professional kick-ass Realtor by your side! Yes, you need a realtor if you want to sell your home for the best price. When I see people try to sell a home on their own, I often see them walk away with a lot less than what could have been. You need an experienced, reasonably competent Realtor. I’m not just saying that because I list homes and want your business. I am saying that because I believe it! Would you decide to perform your own surgery if you needed one to save money? Would you undergo a serious renovation without a professional opinion? Yes, you can sell your home on your own and save money but many studies have proven that Realtors get top dollar and sell homes quickly without giving you the headaches of contracts or mistakes that could be a legal nightmare for you.
If you are currently selling your home without Realtor representation and your home isn’t selling, contact me with any questions at 608-335-8798 or email at firstname.lastname@example.org