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Lately, we’ve been getting a lot of questions from home sellers who have
been trying to sell their home with other area Agents.
They say, “I’ve had my home on the market with this other agent, and it’s not
selling. Why isn’t it selling? What’s wrong with my home? Is this the wrong
time to be on the market? Is it my agent?”
These are all valid questions. Let’s figure this out together.
For context as to whether we are a proper “authority” to be answering this
question: In 2016 The Larkin Group sold 56 homes in 1 day or less!
In 2017, we sold 73 homes in under 25 days. I say this not to impress you but
rather to impress upon you that we have a system that routinely beats the
market and routinely works. I am approaching your questions as an
experienced real estate specialist who has sold over 1,100 homes.
“Be very honest with yourself about the market value of your home.”
The likely remedy to your home sale problem falls under one of these 5
options:
1. Check your price. You need to be quite honest with yourself about
your price. Is your home overpriced for the market? Do you love your
home so much that you’re willing to “buy it back” (overprice it) daily?
Your listing price is not about what you need or want, and it’s not what
the appraiser or grandmother told you. Ask yourself, “What is the market
value of my home? What would a real Buyer pay for this home? What
would I PERSONALLY pay if I were in the market and had all sorts of other
options?” You need to be very honest with yourself. This is a real “man
(or woman) in the mirror” moment.
2. Look at the condition and staging. Did your agent give you any
feedback about your house prior to listing? If so, did you ignore that
feedback? Perhaps there is overlooked clutter or you need to update or
neutralize the paint.
It’s fairly likely that there is something you felt you neede3d to fix but
didn’t, and that is what’s keeping your home from selling.
3. Marketing? Did you hire a real estate agent who spends thousands of
dollars on radio, Zillow, Trulia, Realtor.com, and Homes.com? Have you
seen exactly what the agent is doing to attract Buyers? If not, find out!
Is your agent marketing to other real estate agents and incentivizing
those agents to bring buyers to your home? There is a good chance you
don’t know what they are doing, so ask your agent about their marketing
plan.
4. Needed repairs? This goes back to my second point. You may need to
spend some money to fix up your home. I don’t mean decluttering, this
could mean replacing tattered flooring or even more significant repairs.
It will cost you in the short run, but might cost you the entire sale in the
long run.
5. Quit. You always have the option to quit and take your home off the
market.
In most cases, the reason a home doesn’t sell is due to pricing. Be honest
with yourself and your agent.
This market has been great for sellers. INCREDIBLE even. And a good agent
should be able to sell your home in 30 days or less. If your home is still on the
market, it’s time to have a heart-to- heart with your agent.
If you have any other questions or need help selling your home, just give me a
call or send me an email. We’re happy to share our observations free of
charge, and definitely will not solicit your listing if you happen to be actively on
the market with another agent. Our suggestions may even help them get it
sold!
