Page 3
Selling Your Home (cont'd)
VI. Reasons homes do not sell
1. Overpricing
a. Buyers, not sellers determine the ultimate value of a home. Buyers are
not concerned with what a seller needs to net out of the sale of their home.
If your home is overpriced several things will happen. One, the buyer will
be disappointed in your house because they will expect the same features,
square feet, etc. as other homes that they have seen. Secondly, their buyers’
agent will point out that your home is overpriced. Thirdly, agents know the
market. They do not waste their time if they think a home is overpriced. Fourthly,
homes that sit on the market for a long time get labeled with a stigma and
usually sell for below market price.
2. The home does not show well
a. If the complaint is valid and can be addressed do so
b. If it is due to circumstances beyond your control consider reducing the
price, or constructing a fence or whatever is needed to counter the complaint
3. You are in a bad location
a. Heavily trafficked road
b. Difficult lot
c. Other homes in your neighborhood are far inferior to your home
4. You are battling stiff competition or market conditions
a. In a flat market be flexible
5. Re-evaluate your marketing plan and adjust accordingly – have your
agent’s office do another office tour to decipher what is needed to
get a sale.
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