Our Real Estate Blog
If you’re selling your home it can be frustrating when you aren’t receiving any offers. Perhaps you’ve heard that it’s a seller’s market and that the offers on your house would be flying in. However, it’s more complicated than that.
Whether or not your house receives offers is determined by a number of reasons--some that in your control, others that aren’t. But, that doesn’t mean you have to give up and sell your house at a low price.
In this article, we’ll discuss what to do if your house just isn’t selling. We’ll talk about some reasons why people may be hesitant to bid, to inquire about a showing, and to seal the deal and purchase your home.
Revisit the comparable properties
If your home has been on the market for a while, it’s a good idea to check out the other recent homes in your neighborhood to see how their prices compare to the listing price of your home. Since the market fluctuates, other sellers could be adjusting the cost to reflect the current rates, leaving yours higher than it should be.
When pricing your home, make sure you are comparing your house to those that have actually sold. Using houses that have been on the market for a while as a baseline might mean you’ve priced your home too high to sell just like theirs.
Also, make sure you are using houses that share many of the common features that yours does. This can include:
The year the house was built
Number of bedrooms and baths
The lot size
The condition of the home
Remember, it isn’t all just about location.
Getting more leads
If people aren’t making inquiries about your home, there are a few things you should check up on. First, make sure your listings are updated and accurate. The contact info should be easy to find, and you or your real estate agent should provide multiple means of contact (email, cell phone, text, etc.).
Next, ensure that you’ve given enough details about the house. If people are searching for a specific number of rooms but your listing doesn’t mention the number of rooms you have, you might be missing out on several inquiries.
Finally, make sure your photos are high resolution and well-lit. You want to make sure visitors to your listing can get a clear idea of what your home looks like. If your photos are small, dark, blurry, or if they make the house look cramped and cluttered, you should retake your photos or consider hiring a photographer.
Getting more offers
If you’ve had plenty of inquiries and showings but you aren’t getting any offers there may be a deeper, underlying issue that needs to be addressed. Usually, this means your home needs important repairs and upgrades that buyers simply don’t want to make.
If your house is priced to be move-in ready but it’s not, you’ll have to make some upgrades or lower the price.
Not working with an agent
Sellers can also have a difficult time getting offers if they attempt to sell the home themselves without using a real estate agent. If your home is FSBO (For Sale by Owner), you’re missing out on a number of listing services and connections that an agent can provide.
Believe it or not, selling a home may prove to be a good idea. In fact, there are many reasons why selling a residence could be beneficial, and these include:
1. You can earn a profit from your home sale.
If you have allocated significant time and resources to maintain your residence, you may find there will be lots of interest in your house if you add it to the real estate market. As such, you could earn a profit from the sale of your home.
Of course, it often helps to craft a home selling strategy before you list your house. This strategy will enable you to determine the steps you'll need to take to optimize your home sale earnings.
2. You can downsize or upgrade.
In some instances, a homeowner may find his or her current residence is now too big or too small. If you encounter this situation, there is no need to worry, as you can always list your residence and downsize or upgrade as needed.
Selling a home allows you to reconsider your living situation. Thus, if your current house is too big, you can sell your home and move into a smaller residence. On the other hand, if you need more space than your current home offers, you can list your residence and pursue a bigger home in the city or town of your choice.
3. You can find a new home close to family members and friends.
If you have to travel great distances to visit family members and friends, you may want to consider moving closer to these loved ones. Thankfully, you can sell your residence and relocate to a new home near family members and friends.
Clearly, there are many reasons why selling a home may be a good idea. If you hire a real estate agent, you can receive comprehensive assistance throughout the property selling journey.
A real estate agent will do whatever it takes to help you achieve the optimal home selling results. First, he or she will meet with you and find out why you are selling your house. A real estate agent next will offer tips to help you prepare your residence for the housing market. Then, when you're ready to sell your home, a real estate agent will promote your residence to prospective buyers. And if you receive an offer to purchase your house, a real estate agent will help you analyze this homebuying proposal and make an informed decision.
In addition, a real estate agent is a home selling expert. He or she will respond to any of your home selling concerns and questions, and by doing so, ensure you can achieve your desired results.
If you decide to sell your residence, you may want to hire a real estate agent. Because if you have a real estate agent at your disposal, you can get the help you need to simplify the property selling journey.
As a first-time home seller, it can be tough to establish a competitive price for your residence. And if you set a price that is too high or too low, you risk alienating potential homebuyers or missing out on an opportunity to maximize the value of your house.
Ultimately, there's a lot to think about as you determine the price for your residence. Lucky for you, we're here to help you take the guesswork out of pricing your home, regardless of the current housing market's conditions.
Let's take a look at three tips to help first-time home sellers set a competitive price for a residence.
1. Study the Real Estate Market
How does your residence stack up against similar houses that are currently available in your city or town? Study the real estate market, and you can find out how your residence compares to the competition.
Evaluate the prices of currently available houses in your city or town. With this housing market data in hand, you can learn how your home ranks against the competition and establish a price range for houses that are similar to your own.
Also, examine the prices of recently sold houses in your area. By doing so, you can find out whether you're about to enter a seller's market or a buyer's market and map out your home selling journey accordingly.
2. Perform a Home Appraisal
A home appraisal can make a world of difference, particularly for a first-time home seller who is uncertain about how to upgrade a residence.
During a home appraisal, a property inspector will examine a home's interior and exterior. After the appraisal is finished, this inspector will provide a home seller with a report that outlines his or her findings.
Take the results of a home appraisal seriously – you'll be glad you did. The appraisal enables a home seller to learn about a home's strengths and weaknesses, and as a result, discover the best ways to transform assorted weaknesses into strengths. Then, a home seller can perform myriad home upgrades and may be better equipped than ever before to optimize the value of a house.
3. Consult with a Real Estate Agent
A real estate agent analyzes housing market patterns and trends closely and is happy to share home selling insights at any time. Thus, this housing market professional can help a home seller establish a competitive price for a home from the get-go.
Moreover, a real estate agent will promote a home to the right groups of homebuyers and work with a home seller at each stage of the property selling journey. He or she will even negotiate with homebuyers on a seller's behalf to increase the likelihood that a seller can get the best price for a residence.
When it comes to selling a home for the first time, there is no need to leave anything to chance. Use the aforementioned tips, and a first-time home seller can set a competitive price for a house and increase his or her chances of a quick home sale.
Family members and friends are loved ones who play important roles in your life. However, when it comes to sharing the news that you've decided to sell your home, it sometimes can be difficult to prevent these loved from sabotaging your home sale.
Lucky for you, there are many simple ways to reduce the risk that loved ones can hinder your ability to sell your residence.
Now, let's take a look at three tips to keep family members and friends involved in the home selling process.
1. Meet with Family Members and Friends
Don't wait to inform family members and friends about your decision to sell your house. Instead, meet with loved ones so you can discuss your home selling plans with them.
Face-to-face meetings with family members and friends are ideal. These meetings will allow you to explain why you decided to sell your home, where you plan to move and much more.
In addition, meeting with family members and friends shows loved ones that you care about their thoughts and feelings. It also sets the stage to involve your loved ones in the home selling process – something that may help you get the best results possible.
2. Respond to Loved Ones' Home Selling Questions
In all likelihood, family members and friends will have lots of questions about your decision to sell your home. If you plan ahead for potential questions, you should have no trouble responding to loved ones' queries accordingly.
It may be tough to move further away from loved ones. But if you prepare before you meet with family members and friends, you can improve your chances of remaining calm, cool and collected as you share your home selling news.
Furthermore, it is important to remember that loved ones might not always agree with your home selling decision.
On the other hand, family members and friends should be ready to stick with you and support your decision, regardless of whether they agree with it. By doing so, your loved ones can provide you with the assistance you need to streamline the home selling process.
3. Discuss Your Options with a Real Estate Agent
For those who want to get their loved ones involved the home selling cycle, meeting with a real estate agent may prove to be a great first step.
A real estate agent can provide recommendations and suggestions about how to share your home selling news with family members and friends. Plus, this housing market professional can respond to your home selling concerns and queries at any time.
Perhaps best of all, a real estate agent will serve as a great guide throughout the home selling process. He or she will help you add your residence to the real estate market, promote your house to potential property buyers and negotiate with homebuyers on your behalf.
Don't worry about telling family members and friends about your decision to sell your house. Conversely, use these tips, and you can prevent your loved ones from sabotaging your home sale.
If you’re planning on buying a new home sometime in the near future, you may be wondering when the best time of year to buy a home really is. There’s many theories about when the best time of year to buy a home is. It’s widely known that inventory on homes available for sale picks up in spring. That means that inventory increases, but so too does the volume of competition for people who are buying homes. Just because spring is busy, in real estate that doesn’t mean that it’s necessarily the best time to buy.
Spring is, however, a great time to sell your home. The same goes for the summer as the buying frenzy continues right into the fall for most home buyers. As a buyer or a seller, you’ll want to have a good understanding of the housing market no matter what time of year you’re making your property transactions. Whether you’re buying or selling, you’ll want to know how to get the best bang for your buck. While many people are ready for a change after the long winter months, yet, many people can hold out through other times of the year.
The Market Changes With The Seasons
As the seasons change, so too do the number of people selling versus the number of people who are looking to buy. If you don’t mind the competition and know what you’re looking for, any time is a good time to buy. As a buyer, you’ll either be facing low inventory, tough competition, or a combination of the two. If you’re scoping out the type of home you’d like to live in, you’ll want to browse in the spring. Have your pre-approval ready just in case you find a home you love at the right price. If you’re not in a rush, spring shopping can give you a good idea of what’s out there for you. You’ll be able to narrow down the type of home you want and where you’d like to live when the time is right.
There’s Really No Golden Rule For Timing
When it comes to buying and selling real estate, there is no sweet spot during the year as to when you’ll have better luck. Being prepared and understanding the trends in your area are a good start. When you hire the right real estate agent, they can be your advocate throughout the process of either buying or selling. Agents can research different trends from the time of year that properties are sold in a certain neighborhood right through to the correct pricing for a home just like yours or the one you are looking for.