A new year brings new beginnings, especially if you tried to sell your home last year but failed and you wonder what went wrong. You may be feeling disappointment, frustration, and maybe some disbelief especially after the last few years when homes were selling fast and above market. I work with many home owners that we call "expired listings." These are homes that were listed for sale but did not sell by the time their listing contract ended or expired. In my initial consultation the 3 questions I ask them are as follows:
1) Did You Limit Access to Your House? Rare are the days like in COVID that home buyers are buying homes sight unseen and relying on the photos online. If you restricted showing days and times to potential home buyers, you made a big mistake. Schedule flexibility is important, even though it might be inconvenient or stressful to plan around buyer tours. ShowingTime advises: “. . . do your best to be as flexible as possible when granting access to your house for showings.”
Texas continues to be a major home buying destination for out of state and international home buyers. Here in the Dallas/Fort Worth area, we experience a great deal more home buying than most areas of Texas because of our robust local economy, great schools, and high income jobs. Thus, many buyers are not local and travel to our area to see homes for a few days. Each day they are looking at homes, they are not just coming to see 1 house. They are going to see as many homes as possible. Since they’re traveling here to see your house and several other homes across several cities, they may not be able to change their plans easily if you only offer limited times for showings. So, try to make your house available as much as you can to accommodate them. It's simple – if no one’s able to look at it, how will it sell?
2) Did You Make Your House Stand Out? First impressions still matter. When you're selling your house, the old saying "you never get a second chance to make a first impression" is still true. Putting in the work to make the exterior of your home look nice is just as important as how you stage it inside. Freshen up your landscaping to boost your home’s curb appeal so you can make an impact upfront. As an article from U.S. News says: “After all, if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.” But don’t let that impact stop at the front door. Staging your home inside includes removing most personal items, minimizing clutter, and having a deep cleaning before you start showing your home. Your home's presentation should provide home buyers a sense of what it would be like to live in your home. I share with my home seller clients that we only have 15 seconds from the time buyers walk up to your home to the inside to make a good impression.
3) Did You Price Your House at Market Value? We are not in an age of information scarcity. Many online websites attempt to provide home values and price ranges that buyers consider as they house hunt. While those websites are not precise and are error-prone, they do provide a price range. Your Realtor will ensure your home's initial listing price considers all data available, including price and economic forecasting that the online portals cannot do. Work with your Realtor to ensure that you are setting the right price. While it might be tempting to push the price higher to maximize your profit, overpricing your house can actually turn off potential buyers and slow down the selling process. Forbes notes: “Pricing a home too high could lead to a slower sale or force the seller to drop their price.” If your house is priced higher than others like it, it may discourage buyers, resulting in increased time on the market.
Don't discount the feedback people give your agent during open houses and showings. If lots of people are saying the same thing, it might be a good idea to strategize with your agent on what adjustments should be considered to minimize the challenges, including a new price. A great agent will offer expert advice on re-listing your house with effective strategies to get it sold.
I specialize in helping home sellers sell their homes regardless of market conditions. Don't take a chance and re-list with an agent that can't offer you new strategies. Reach out to me today and I promise to re-examine what went wrong and provide you with the right strategies and marketing plan that will get your home sold. Expect a better experience!