Reason #1: Bad Timing
If your home didn’t sell after several months on the market, timing could’ve been a factor. Markets are driven by the law of supply and demand, and real estate is no exception.
When demand outpaces supply, it’s considered a seller’s market and homes get snapped up quickly. In a buyer’s market, however, there are more homes for sale than active buyers. This can cause homes to sell for less money and to sit on the market for a longer period of time before receiving an offer.
Now What?
In most cases, buyers can be motivated to act with a combination of improvements, incentives, and pricing. If you suspect timing played a role in your inability to sell, consult with a knowledgeable real estate agent. We can estimate how long a home like yours should take to sell given current market conditions.
Reason #2: Ineffective Marketing
Did your home get a steady stream of showings when it was on the market? If not, you may need to try a new promotional strategy.
Take a look at your listing description and photos. A clear description and high-quality photos are crucial. Many buyers use these to decide whether or not to visit your home. Another factor to consider is whether your listing reached the right audience. Some properties require a more robust marketing approach to be found by the most interested buyers.
Now What?
If you suspect ineffective marketing, consider turning to a skilled professional with a proven approach. We employ the latest technologies to seed the marketplace, optimize for search engine placement, and position your home for the best possible impression right out of the gate.
Want to learn more? View our complete Property Marketing Plan.
Reason #3: Poor Impression
If your property received a lot of foot traffic but no offers, you may need to examine the impression you made on buyers who visited your property.
Start with your home’s structure and systems. Are there any “red flags” that could’ve scared away buyers, such as large cracks in the foundation or water stains on the ceiling? What about neglected maintenance and repairs? Finally, was your home properly prepped to maximize its appeal? A clean and decluttered space helps buyers more easily picture themselves living in your home.
Now What?
When we take on a new listing, we always walk through it with the homeowner and point out any steps that should be taken to boost its sales potential. In some cases, we will recommend that you utilize staging techniques that are shown to help homes sell faster and for more money. We can help you determine the appropriate budget and effort required to get your home sold.
Reason #4: Price Is Too High
It’s possible your home’s original asking price was set using sales data from before a market shift. But regardless of the economic climate, pricing a home is always tricky because so many factors can impact how much buyers are willing to pay.
Many homeowners are reluctant to drop their listing price. But the reality is, buyers may not seriously consider your property if they think your home is overpriced. If your home sat on the market for months without an offer, then chances are good that your asking price needs to be reevaluated.
Now What?
If you aren’t in a rush to sell, adjustments to timing or marketing may bring in a new pool of potential buyers. And repairs, upgrades, and staging can increase the perceived value of your home, which may be enough to bring a buyer to the table at your original list price.
However, if you need to sell quickly, or you’ve already exhausted those options, a price reduction may be necessary to get your home the attention it needs. We can help you determine a realistic asking price given today’s market conditions.
Reason #5: You Hired the Wrong Agent (Or No Agent At All)
If you suspect that your previous real estate agent didn’t do enough—or used the wrong approach—to sell your home, you’re not alone. Many sellers whose listings languish until they expire or are withdrawn feel this way.
Or, perhaps you chose not to hire a listing agent at all and have been trying to sell your home yourself. That can be an equally frustrating experience—and research shows it can actually cost you time and money in the long run.
Now What?
If either of those scenarios sounds familiar, we should talk. By now, you owe yourself more than the status quo when it comes to your real estate representation. Our multi-step Property Marketing Plan can help you sell your home for the most money possible, and in the process reconnect you with the excitement you originally felt upon first listing. It’s time for a new agent, new marketing, new buyers, and most of all… new possibilities.
Ready to Make a Move?
Tina Lewis
Tina Lewis, the esteemed Broker/Owner of Home Team Real Estate Group LLC, is a true luminary in the world of real estate. With a career spanning nearly two decades, Tina's journey from property management to real estate has been defined by an unyielding commitment to helping individuals and families achieve their dreams of homeownership.
Tina's story in the real estate industry began in 2003 when she embarked on a fulfilling career in property management. During these formative years, she learned the intricacies of property upkeep and management, gaining invaluable insights into the fundamentals of real estate. This experience became the bedrock of her transition into the dynamic world of real estate sales in 2015.
Today, Tina is more passionate than ever about her role in helping people buy and sell homes. Her dedication shines through as she guides clients through the often intricate process of real estate transactions. With a diverse portfolio under her belt, Tina has successfully assisted buyers and sellers with a wide range of properties, including residential real estate, commercial spaces, investment properties, probate and foreclosure sales, and vacant land transactions.
One of Tina's standout features is her commitment to offering a holistic range of services to her clients. Over the years, she has cultivated a valuable partnership with a vacant land specialist, Nicole Osburn. Tina places unwavering trust in Nicole's expertise, and as such, she readily refers her clients for specialized guidance in vacant land transactions.
In addition to her thriving real estate practice, Tina remains actively engaged in property management alongside her trusted business partner, Debbie Kowalski. Together, they oversee a diverse portfolio of properties, including condominiums, single-family homes, and duplexes. With a combined experience spanning over 30 years, Tina and Debbie bring a wealth of knowledge to their property management endeavors.
Tina's dedication to her clients and her unwavering commitment to delivering exceptional results sets her apart as a true industry leader. She eagerly anticipates the opportunity to assist you with all your real estate needs, whether you're buying, selling, or seeking property management services. For Tina, your homeownership dreams are her top priority, and she is steadfastly determined to turn those dreams into reality.
Continually striving for excellence, Tina actively pursues ongoing education in the real estate field. She holds certifications as a Pricing Strategy Advisor and Certified Real Estate Negotiator, and she's diligently working towards acquiring more certifications to better serve her clients.
With Tina Lewis and Home Team Real Estate Group LLC at your side, you can trust in the guidance, professionalism, and passion required to make your real estate goals a reality. Your journey toward homeownership is in expert hands.
Home Team Real Estate Group LLC
Suite 202
West Allis, WI 53227
United States