Before the home was no longer on the market, the sellers were optimistic and excited. The listing agreement was signed, and the sellers expected a quick sale and a nice return.
When offers don’t come in and the listing is no longer on the market, it can feel like the relationship with the agent and seller has come to a close. Naturally, frustration and disappointment can arise.
However, casting blame on why the house didn’t sell won’t move things forward. This is the time to step back and take a fresh look at the property and the approach used to market it, so that you can avoid the same challenges in the future.
WHAT’S YOUR REASON TO SELL?
Some sellers are curious about what they can get for their house. Others want to sell but don’t make it easy for agents to show the home. Overpricing is another common issue, as it can take the house out of range for comparable homes. There are many factors that can influence a sale. If you’re “not in a rush,” maybe now is the time to reconsider your approach and take a step back.
Selling a house is a two-way effort. A sign in the yard and flyers in the box aren’t enough to make it a success. If you’re not ready to fully commit, it’s okay to wait until you are.
WHAT WAS YOUR MARKETING PLAN?
Did your agent share the marketing plan with you? Was a lock box placed on the property? Did other agents in the area know about your home? What about your digital marketing efforts (nearly 90% of buyers begin their search online)?
Enjoy Reading Essential Questions to Ask When Selling Your Home
PROPERTY CONDITION
If you’ve lived in your home for a while or used it as a rental, it’s likely that some repairs are needed. Why not take a look at similar homes in the area or online to see how they’re staged? Is your home in comparable or better condition? Those homes are your competition.
Simple things like making sure the grass is cut, ensuring the home is welcoming, and fixing small issues like pet odors, paint, or carpeting can go a long way in making a better impression.
BUYER FEEDBACK
While some things—like location—can’t be changed, buyer feedback is extremely valuable. Did you gather any insights on what buyers thought of your home, its condition, or the price? Did you discuss these factors before listing the property? If feedback suggests a valid concern, now is the time to take action and address it.
WHY ARE ALL THESE AGENTS CALLING ME?
When your home was listed, it may have felt like agents weren’t reaching out. Now that the listing is no longer on the market, you might feel like you’re getting more calls than ever. Why? Agents can’t contact sellers while the property is still on the MLS. Once the listing ends, they gain access to your contact information and will reach out.
It’s essential to find an agent who understands what it takes to successfully sell your home. Don’t settle for a discount broker or an agent who agrees to list your home at an unrealistic price just to get their sign in the yard. It’s worth investing time to find someone who truly listens and has a proven strategy.
WHAT YOU CAN DO NOW
Now is the time to honestly assess your property before relisting. Are you likely to get the price you need to move forward? Is your home ready for effective digital marketing? Have you made the necessary repairs to address potential buyer concerns?
Though agents all have access to the MLS, the internet, and marketing plans, we all bring our own unique approach to the table. Interview agents to find out which one aligns best with your needs. Do they take the time to listen to you? Have you checked their credentials and online reviews? Are they competent and experienced? These are important factors to consider.
NOW WHAT?
Selling a home can be challenging, but it’s not uncommon for listings to come off the market without a sale the first time around. Around 40% of homes experience this. It’s not too late to get it right. If your agent did their best to market your home, consider relisting with them. Follow their suggestions, even if it means making repairs or improvements that may not seem appealing at first. Review the marketing plan and reassess your goals. It’s possible that new listings or buyer feedback will lead to a fresh perspective.
If you’d like a second opinion on your property, I’d be happy to help. This consultation is completely free of charge. Feel free to call or fill out the form below, and I’ll reach out to you shortly.
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I hope that you enjoyed this What Happens Now That Your Home Is No Longer On The Market? post!
