Questions and Answers why your home won't sell.

Tools and tips to help to get your home sold.

by NATALIE POTEETE on January 21,2010

I really can't lower the price. Is there anything else I can do?

                This is the most common answer most agents will give you for "Why your home won't sell". In today's market, value or the perception of value, can vary greatly from the listing agent, to the seller, to a potential buyer, or to the 2nd or 3rd agent that takes the listing. A great example of this is a home seller that can't believe the value of his home was once over $300,000 is now being told by his agent that it's value is closer to $200,000, and the buyer interested in buying the home sees the value closer to $150,000.

     As everyone knows a sellers desire, or lots of times a sellers need, does not determine value. Especially in the eyes of a potential buyer.

                So, what's the answer when you can't even reach your bottom line? You should have this discussion with your agent the first time you meet. Be open and honest about where you stand, and hopefully your agent will do the same.

                So, now what? You bottom line can't be reached what are your options? Here is what you can do:

1. Don't sell your home. If you're determined to get your price, and not willing, or feel like you can't take less, just stay. You can always try again when the market gets better.

2. Take a loss. That's the last thing any seller wants to hear. The market is not where is was just one or two years ago, so bringing cash to closing is sometimes the only answer. Make sure your agent shows you a "net to seller" sheet before reducing the price, so you're not overwhelmed days before the closing with the amount of money you are asked to bring.

3.Do a short sale. If you have to sell your home, and you just don't have the money to bring to closing you can always talk to an agent specializing in short sales, and see if you could qualify.

4.Lease it. More and more sellers are turning this option into a reality. You can rent your home for a short time until the market turns around, and hopefully this will cover a good portion of your mortgage each month.

The best thing to do is think about all these options even before putting your home on the market.

Choosing an agent: The 3 most important factors

1.Market knowledge and creativity. What does that mean? Well most agents have a website, and most agents access the MLS, but "marketing skills and knowledge" including proactive communication and social networking.

2.Experience and track record. This is the extent of the agent's marketing skills as it relates to your home and your neighborhood.

3.Ability to communicate. Make sure you trust the agent your working with to effectively communicate what he/she does, and that you trust what they say about the market and conditions affecting your home.

Pictures say a thousand words

                   Sometimes it's hard to believe or even say, but realtors really aren't professional photographers. One piece that is crucial to getting those showings are good photos. Make sure you get your house ready before the photographer arrives. Make it spotless, and get rid of all the clutter. If your serious about getting your home sold, then this is a key piece of the puzzle for getting those showings.

Take a look at the before and after pictures, and see if you would have noticed:

Here are some check points to add to your list when re-listing your home:

-Make sure your home is at or below market value

-Make sure all the obvious repairs are done

-Make sure it's clean and clutter free

-Make sure to have a lock box for easy showings

-Make sure to leave the house for all the showings to make sure the potential buyers feels comfortable

-Make sure to remove pets for showings

-Make sure you home is priced strategically. (ex. $299,900 instead of $305,000)

-Make sure you can show your home on short notice

-Make sure you have a sign in the front yard with 24 hour cell phone service

-Make sure your home has high Internet presence

-Make sure you have top of the line photos and a video tour of your home

-Make sure the description of the house is exciting

-Make sure you offer a full coop split to cooperating agents

If you're trying to sell in the Augusta, Georgia area, and I can be of assistance, please contact me anytime at (706)-533-5970. If you're trying to sell in another market, give me a call and I can help you find an agent in your area that specializes in the best marketing approach.