Dear Esther: My house has been for sale for four months and, although we’ve had a few people look at it, we have had no offers. People say they like it, so we’re confused about why no one has placed an offer. Is our agent to blame?
When you hire an agent to sell your home and it does not sell, it is easy to blame the agent. She is the expert, trained and hopefully experienced in how to sell homes. In your confusion, and probably also frustration, I suggest you review price, condition and marketing with her. Make sure all three are in line and eventually your home will sell.
Price – Before deciding on a price, your agent probably showed you properties similar to yours, called comparables, which sold recently. It is important to price your home leaning heavily on the comparables and NOT on the amount of money you have put in the home. An overpriced home is a waste of everyone’s time.
Condition – If you’ve updated your home and maintained it well so it is move-in ready, you can price it on the higher side of these comparables. If it’s a bit run-down and old looking, the price should be on the lower end. Buyers think about what it will cost to make it work for them and figure that amount into their offer. If the condition does not match the price, they will not be interested.
Marketing – A good agent will take excellent photos, preferably hiring a professional photographer. Most buyers are looking online for properties and photographs are what draw them. In addition, the unique features (such as views, fireplaces, walk-out finished basements, desirable location, etc.) are important to emphasize. Many times, the same reasons you love your home are why buyers will also want it.
If you feel your agent has a good understanding of these three and is working hard to sell it, I suggest listening to her advice by adjusting the price, improving on the condition and/or emphasizing features possibly overlooked. In no time, you will be signing a contract and moving on.
If you have real estate questions, feel free to contact me – Esther Prosser, Stoltzfus Realtors – at firstname.lastname@example.org, or by calling 484-269-7153.