Solving the Mystery of the Unsold House

Don’t lose hope if your home has been taken off the market for some time without selling. The property itself may be unrelated to the failure to deal. Perhaps your house was among the most sought-after listings. If your listing has expired, but you’re still interested in selling, you should reconsider.

Though it may be uncomfortable, resolving to sell your property requires you to commit to doing whatever it takes. Your home will deal with the help of a competent agent and your collaboration.

Why didn’t buyers snap up your house? Think carefully about your past ads. There are four main reasons why your home did not sell:

First, how readily available is it to display your home? You should get a lock box for your front door if you don’t already have one. Allow buyers and their representatives to schedule showings at times that work best for them. Get out of the house or at least the yard while the buyer and their agent look at it. Because the showing agent is paid only if they successfully sell your home, their primary motivation is to do so. Buyers must be allowed to raise concerns, after which their agent will work to address those concerns. Give the potential buyer and their agent the “freedom” to ask about your home without fear of offending you.

Second, leave a lasting impression on the potential buyer. Most home purchases are made on an emotional rather than rational level. Ready-to-occupy homes are more likely to be purchased. Consider addressing all the issues a buyer might notice during the first ten to fifteen minutes of exploring the house. Always have it spotless for showings, clear the clutter, and make it bright (open the blinds and switch on the lights). Improve the home’s street appeal. The typical homebuyer decides within two minutes if they like a property. Talk to your broker about handling the painting, flooring, etc., that has to be done. Offering an allowance to your potential buyers is not always as desirable as having the job finished because a buyer perceives only their inflated concept of the expense of the renovation. An attractive home will fetch a higher selling price since it will be perceived as more desirable.

Third, set a fair price that considers the market, the competition, the location, and the state of your home. To attract buyers and their agents, your home must stand out from the competition in its price range. If you want to know how much your home is worth in the current market, your realtor can provide a comparative market analysis.

Finding the right agent to represent you is the first step in developing a successful marketing strategy. Ask potential real estate agents to walk you through examples of their marketing for similar properties, and have them outline a plan for selling your house. Look at the marketing budgets to see how the two stack up. Find out if their ads appear in the newspaper, online, or on a call-capture hotline. Your listing agent must invest money, not just money; it must be well spent. To say that all agents are “created equal” is a gross simplification. You need a creative marketer as your real estate agent if you want to get the most money out of the sale of your house. Get rid of any realtor that uses the same old tactics to sell your home; they won’t get you anywhere in today’s market.

Prospective purchasers are waiting to hear from the right agent. Keep the following in mind before relisting your home:

You and your agent must be able to have open and honest conversations.

You should adjust your asking price based on the market, the competition, and the home’s condition.

Third, ensure your house is in selling condition (some agencies even help with staging).

4. Have a solid, forward-thinking marketing strategy in place.

Born and raised in the Golden State, Phyllis Harb now works as a marketing specialist for the La Canada office of Dickson Podley Realtors. Glendale, La Canada, Altadena, Pasadena, and Monrovia are all serviced by Dickson Podley, a small business run by a single family. Harb has been working with house sellers and purchasers in Los Angeles County since 1989, and he also has over a decade of experience in real estate financing. Located at 818 790-7325, Harb’s award-winning website can be found at http://www.RealtorHarb.com.

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