Not being able to sell a property is something that can be both disappointing and scary. Maybe you were expecting a speedy sale, or had a price in mind and was already imagining what you were going to do with the profits. Instead, you are stuck with a property that continues to cost you and is losing money every day that it stays on the market. This might be a time for tough decisions, but they have to be informed for you to get results. Here are some of the things you can do if your home has been on the market for too long.
Price it Right
In a large number of cases, valuation is the main sticking point. Valuing a home above market value is a bad idea, and so is waiting indefinitely for the best offer. You have to look at the latest sales of properties similar to yours with your real estate agent. These have to include foreclosures and short sales too. You also have to be open to their suggestions.
If you want more tips like these, realtors Kerby & Cristina offer reliable tips for selling your home. This should give you a few more expert tips that could help you accelerate your home’s sale or identify mistakes you might have been making.
It Doesn’t Look as Good as You Think it Does
Most of us like to think we have impeccable taste in design and decoration, but that may not be the public’s opinion. Sometimes, you may be making some faux-pas or your style may be a bit dated. Or maybe it’s a bit too forward for people’s tastes.
Designing a house to sell is not the same as designing it so that it looks good. The most recent trends in design are not necessarily reflected in the market. Or they might be in another market, but not yours. In this case, it would be a good idea to work with a realtor that understands the market trends well, and look at options such as staging.
If your home has major issues that need to be repaired, there are some cases when selling it as is can be a good option. But you have to be ready to wait and value the house accordingly. You also have to know if making repairs would be the best option.
Something like an unfinished basement, for instance, could put off many buyers. You have to speak with your agent and see what the proper strategy would be. You might be open to losing money if it means you get to sell your house faster.
Relist it Later
Sometimes, the best decision is to simply wait. If you listed your house in fall or winter, this could be your problem right there. The hot times are during summer and spring, so it would be wise to sell it during periods when buyers are the most interested.
If your property has been sitting on the market for too long, these few tips should help. The essential part is having the right people in your team and trusting their experience.