We see you out there...
The For Sale sign is up in your front yard, people have come and gone to your Open House (or maybe the Open House had very little traffic - leaving you feeling defeated).
Your neighbors' homes are selling after only a few days and you are left wondering why you haven't received an offer.
We are sharing a few reasons why you may not have a Sale Pending or Sold sign in your yard yet. Or maybe you don't plan on selling your home yet, but you want to make sure that you aren't left with a For Sale sign in your yard forever when that time does come. Either way, these tips are for you!
You've heard it before. We all have. LOCATION! LOCATION! LOCATION!
People want to be in specific school distrcits, neighborhoods, a certain distance from the city, or maybe they want privacy. Many buyers put a BIG priority on the location of their home.
If your home is in an undesirable location, it's going to need some help! When you take things like square footage, upgrades, and condition into consideration, your home may be worth $300,000 in a popular area. However, if the location is undesirable, you might have to adjust the price to reflect that.
If your home is in need of some TLC, it can lead to a lack of buyer interest. Many buyers want to be able to move right in and avoid taking on big projects - especially when it comes to maintenance. At a listing appointment it's important for the agent to tour your home and make recommendations on things to consider repairing or replacing.
You might want to consider making minor repairs such as chipped paint, torn window screens, worn out carpeting, and an overgrown yard. Many times, simple fixes can make a big difference to the eyes of a buyer.
When you put the location, the condition, and the price into perspective and decide that those are all where they need to be - It could be that your home isn't being seen and needs more exposure to reach the right buyers.
How is your home being marketed? A lot more goes into the marketing strategy of a new listing than sticking a sign in the yard and putting your home on MLS.
How many internet views if your listing getting? Do you have professional photos that show your home in it's best light? Is your home being marketed on social media to the area around which it is located?
The more exposure your home has, the more demand it can create, so marketing is a key piece of the puzzle to evaluate if your home is still sitting for sale.
At the end of the day, the price is going to make or break whether or not your home sells.
Ultimately, the buyer and the market dictate the value of your home. The price you come up with based on the home features, size, location, and upgrades could be slightly off from where you think it should be.
The price of a home is not set in stone because "it's the amount you want" or because "it's reflecting how much money you've put into the house." The value of your house is going to be determined by what a buyer is willing to pay for it.
It's important to have a plan in place as soon as you sign the listing contract so that you can evaluate the activity and adjust the price if needed. In most cases, if your home has been on the market for a few weeks and you haven't had any showings, it's a good indication that your home is priced too high. If you've had several showings but no offers, then you could be slightly overpriced.
Again, this depends on that status of your local market and it ultimately determined by the buyer and what the market is doing. Make sure to keep these things in mind when you are ready to list your home.
If you are thinking of selling and want to avoid ending up in this situation, give us a call! Our agents would love to scheule a free listing consultation with you and walk you through the process in detail.
Bossier City Office 318-747-5411
Shreveport Office 318-861-2461