What To Do When Your House Didn’t Sell

What To Do When Your House Doesn't Sell: Insights from a Real Estate Agent

It’s totally natural to feel a mix of frustration and disappointment when your house doesn’t sell and your listing expires. As a real estate agent, I've seen this scenario many times, and I can tell you it's not the end of the road. Let’s dive into what might have gone wrong and what steps you can take to get your house sold.

Pricing for Today’s Market

One of the most crucial factors in selling your home quickly is setting the right price from the start. It might be tempting to list your home at a high price, hoping to get the maximum return, but this strategy can backfire. If your house was priced higher than similar homes, it likely turned away potential buyers. Remember, the goal is to attract as many interested buyers as possible when your listing is fresh. As Rocket Mortgage puts it:

“Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one.”

Sentimental value shouldn’t cloud your judgment; the true value is what buyers are willing to pay.

Making Your Home Accessible

Another common pitfall is restricting the days and times when potential buyers can tour your home. While it might be inconvenient to accommodate showings, flexibility is key. Limited access means fewer buyers see your home, which reduces your chances of selling. ShowingTime advises:

“Do your best to be as flexible as possible when granting access to your house for showings.”

First Impressions Matter

Take a step back and view your home through the eyes of potential buyers. Are there repairs or cosmetic issues that might be turning them off? Even minor fixes can make a big difference. Small upgrades, tidying up landscaping, a fresh coat of paint, and removing personal items can help your home shine. Consider staging your home to make it more appealing.

Willingness to Negotiate

Were there offers that you turned down because they weren’t exactly what you wanted? While aiming for top dollar is natural, being realistic and open to negotiation is essential in today’s market. With increasing supply and higher mortgage rates affecting buyers, flexibility can be crucial. Ramsey Solutions suggests:

“If you don’t have the money or time to fix home issues, consider offering some other form of incentive to buyers. An experienced real estate agent can help you arrange a deal where you and your buyer both come out on top.”

Listening to Your Agent

If your house didn’t sell, it’s time to have an open and honest conversation with your real estate agent. Whether you stick with your current agent or choose a new one, their expertise is invaluable. A great agent will listen to your concerns, analyze what went wrong, and suggest effective strategies for re-listing your home. Better Homes & Gardens advises:

“If you’re frustrated with the timeline of your sale, chat with your real estate agent. Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key.”

Bottom Line

It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Connect with a reliable real estate agent to determine what happened, and what changes you should make to get your house back on the market. Together, we can create a new plan to attract buyers and close the deal.

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