If your home is sitting on the market without any offers, there are three steps you can take to make sure it’s properly positioned in the market.
If your property is just sitting on the market, luckily, there are a few steps you can take to sell your home.
1. Check your listing. Make sure your home is properly labeled and categorized on the MLS and in all of its marketing materials. I’ve had sellers come to me unable to sell only to find that their four-acre property was listed at 0.04 acres, so people looking for acreages didn’t even know their home was available. So, make sure that your home data is correct.
2. Make sure your home is strategically marketed. If you’re selling on your own, make sure you’re marketing more. Otherwise, go to your agent and see exactly how much exposure your home is getting on the market. If your agent is marketing your home correctly, they will be able to support that data by pulling in supporting information.
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Make sure that your listing data is accurate.
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3. Conduct a comparative market analysis. There’s no better way to find out what the market is doing than by doing a market analysis. Look at what homes are comparable to yours. Find out what’s going contingent or under contract. Most importantly, look at what homes are being closed on in your area that are very comparable to yours.
Now, the National Association of Realtors has said that if your home is active on the market and (no matter which comes first) has had 10 showings or gone 14 days with no offers, then there’s something wrong with the listing.
If you go through the three steps I mentioned above and you don’t have any offers, you may need to go through a price reduction to get to your accurate market price.
You can never predict what your home will sell for, but these steps will properly position your home in the market. If necessary, a price adjustment will help your home move.
If you have any other questions about selling in our current market, just give me a call or send me an email. I would be happy to help you!
